Alberta Investment Management Corp Has $2.12 Million Holdings in Integer Holdings Corporation (NYSE:ITGR)

Key Points

• Alberta Investment Management Corp has drastically cut its stake in Integer Holdings Corporation by 99.9%, now holding only 17,936 shares after selling 22,500,000 shares during Q1.
• Despite the reduction by one of its major institutional investors, Integer Holdings reported strong quarterly revenue growth of 11.4% year-over-year, totaling $476 million in the latest quarter.
• Analysts remain optimistic about Integer, with upgrades to a "strong-buy" rating from Citigroup and various price adjustments, indicating a consensus target price of $140.25.

Alberta Investment Management Corp reduced its position in Integer Holdings Corporation (NYSE:ITGR - Free Report) by 99.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,936 shares of the medical equipment provider's stock after selling 22,500,000 shares during the quarter. Alberta Investment Management Corp owned about 0.05% of Integer worth $2,117,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE lifted its position in Integer by 2.3% during the first quarter. US Bancorp DE now owns 11,820 shares of the medical equipment provider's stock valued at $1,395,000 after purchasing an additional 271 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Integer by 117.7% in the 1st quarter. Natixis Advisors LLC now owns 94,202 shares of the medical equipment provider's stock worth $11,117,000 after acquiring an additional 50,924 shares during the last quarter. XTX Topco Ltd boosted its position in Integer by 87.1% in the 1st quarter. XTX Topco Ltd now owns 4,190 shares of the medical equipment provider's stock valued at $494,000 after buying an additional 1,951 shares during the period. First National Advisers LLC purchased a new stake in shares of Integer during the 1st quarter worth $436,000. Finally, LPL Financial LLC lifted its position in shares of Integer by 11.4% during the 1st quarter. LPL Financial LLC now owns 49,585 shares of the medical equipment provider's stock worth $5,683,000 after purchasing an additional 5,077 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Martin C. Maxwell sold 8,720 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $120.56, for a total transaction of $1,051,283.20. Following the transaction, the director owned 22,170 shares of the company's stock, valued at approximately $2,672,815.20. This trade represents a 28.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald J. Spence sold 14,739 shares of Integer stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $120.38, for a total transaction of $1,774,280.82. Following the completion of the transaction, the director directly owned 18,781 shares in the company, valued at approximately $2,260,856.78. This represents a 43.97% decrease in their position. The disclosure for this sale can be found here. 2.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ITGR. Benchmark dropped their price objective on shares of Integer from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company lowered their target price on Integer from $152.00 to $132.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Citigroup raised shares of Integer from a "hold" rating to a "strong-buy" rating and boosted their price objective for the company from $133.00 to $140.00 in a research report on Thursday, May 22nd. KeyCorp dropped their price target on shares of Integer from $154.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Truist Financial dropped their price objective on shares of Integer from $145.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $140.25.

Integer Stock Performance

Shares of NYSE:ITGR traded up $0.78 on Tuesday, reaching $107.61. 234,758 shares of the company's stock were exchanged, compared to its average volume of 500,644. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 0.84 and a beta of 1.02. Integer Holdings Corporation has a fifty-two week low of $104.93 and a fifty-two week high of $146.36. The business's 50-day moving average is $117.42 and its two-hundred day moving average is $122.32. The company has a quick ratio of 2.18, a current ratio of 3.41 and a debt-to-equity ratio of 0.72.

Integer (NYSE:ITGR - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.02). Integer had a net margin of 4.61% and a return on equity of 12.27%. The business had revenue of $476.00 million for the quarter, compared to the consensus estimate of $464.37 million. During the same quarter last year, the business posted $1.30 EPS. The business's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, equities research analysts forecast that Integer Holdings Corporation will post 6.01 EPS for the current year.

Integer Company Profile

Integer Holdings Corporation operates as a medical device outsource manufacturer in the United States, Puerto Rico, Costa Rica, and internationally. It operates through two segments, Medical and Non-Medical. The company offers products for interventional cardiology, structural heart, heart failure, peripheral vascular, neurovascular, interventional oncology, electrophysiology, vascular access, infusion therapy, hemodialysis, non-vascular, urology, and gastroenterology procedures.