Key Points
- Insider sale: Andrew Senn sold 9,408 Integer Holdings shares for approximately $1.19 million at an average price of $126.30, reducing his direct ownership by 63.51% to 5,405 shares.
- Quarterly performance: Integer reported quarterly earnings of $1.60 per share, beating estimates of $1.38, while revenue reached $464.11 million versus expectations of $451.07 million. However, revenue declined 2.6% year over year.
- Analyst sentiment: Integer has an overall “Hold” consensus, with one Buy and 13 Hold ratings, and an average price target of $109.86—below the stock’s reported price of about $126.
Integer Holdings Corporation (NYSE:ITGR - Get Free Report) insider Andrew Senn sold 9,408 shares of the firm's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $126.30, for a total transaction of $1,188,230.40. Following the completion of the sale, the insider directly owned 5,405 shares of the company's stock, valued at approximately $682,651.50. This represents a 63.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Integer Price Performance
Shares of NYSE ITGR opened at $126.11 on Friday. Integer Holdings Corporation has a 1 year low of $62.00 and a 1 year high of $126.79. The stock has a market capitalization of $4.29 billion, a P/E ratio of 34.46, a P/E/G ratio of 2.39 and a beta of 0.62. The company's 50-day moving average is $113.59 and its 200 day moving average is $97.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.73 and a quick ratio of 2.41.
Integer (NYSE:ITGR - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The medical equipment provider reported $1.60 EPS for the quarter, topping the consensus estimate of $1.38 by $0.22. Integer had a net margin of 6.97% and a return on equity of 12.79%. The business had revenue of $464.11 million during the quarter, compared to analyst estimates of $451.07 million. During the same period last year, the business posted $1.55 earnings per share. Integer's quarterly revenue was down 2.6% compared to the same quarter last year. On average, sell-side analysts expect that Integer Holdings Corporation will post 6.09 earnings per share for the current year.
Institutional Trading of Integer
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its holdings in Integer by 8,977.7% in the 2nd quarter. California State Teachers Retirement System now owns 3,702,956 shares of the medical equipment provider's stock worth $346,041,000 after purchasing an additional 3,662,164 shares during the period. Irenic Capital Management LP bought a new stake in Integer during the fourth quarter valued at about $99,109,000. Alliancebernstein L.P. increased its position in Integer by 885.1% in the second quarter. Alliancebernstein L.P. now owns 1,106,091 shares of the medical equipment provider's stock worth $136,016,000 after buying an additional 993,810 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Integer by 1,141.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 819,046 shares of the medical equipment provider's stock worth $72,076,000 after buying an additional 753,081 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Integer by 3,350.2% in the fourth quarter. Millennium Management LLC now owns 677,108 shares of the medical equipment provider's stock worth $53,106,000 after buying an additional 657,483 shares during the period. 99.29% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Raymond James Financial cut Integer from a "moderate buy" rating to a "hold" rating in a research note on Monday, August 3rd. HC Wainwright restated a "buy" rating on shares of Integer in a report on Friday, July 24th. Piper Sandler cut shares of Integer from an "overweight" rating to a "hold" rating and set a $127.00 price objective on the stock. in a report on Monday, August 3rd. Benchmark downgraded Integer from a "buy" rating to a "hold" rating in a report on Thursday, August 13th. Finally, Oppenheimer lowered shares of Integer from an "outperform" rating to a "market perform" rating in a report on Monday, August 3rd. One analyst has rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $109.86.
Read Our Latest Analysis on Integer
Integer Company Profile
(
Get Free Report)
Integer Holdings Corporation (NYSE: ITGR) is a global provider of outsourced medical device design, development and manufacturing solutions. The company partners with leading medical technology firms to deliver complex components, subsystems and finished devices across a range of therapeutic areas. Its services encompass concept and product design, precision machining, microelectronic assembly, terminal sterilization and regulatory support, enabling customers to accelerate time to market and optimize product performance.
Integer's product portfolio is organized into two core segments: Advanced Delivery and MedTech.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
