Ameriprise Financial Inc. Decreases Stock Position in Integer Holdings Corporation $ITGR

Key Points

• Ameriprise Financial Inc. has significantly reduced its stake in Integer Holdings Corporation by 73.1%, selling 3.9 million shares to end up with approximately 1.4 million shares valued at $170.2 million.
• Integer's stock has seen a trading increase of 3.6%, with its last reported share price at $110.6490, after missing analysts' earnings expectations by 2 cents per share.
• Equities analysts have recently adjusted their price targets on Integer, with predictions ranging from a high of $145.00 down to $132.00, reflecting mixed outlooks on the company's performance.

Ameriprise Financial Inc. decreased its stake in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 73.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,442,175 shares of the medical equipment provider's stock after selling 3,927,093 shares during the quarter. Ameriprise Financial Inc. owned about 4.13% of Integer worth $170,191,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CW Advisors LLC lifted its position in Integer by 2.2% during the first quarter. CW Advisors LLC now owns 80,835 shares of the medical equipment provider's stock worth $9,539,000 after buying an additional 1,741 shares in the last quarter. Quantbot Technologies LP purchased a new position in Integer during the first quarter worth approximately $193,000. Versor Investments LP lifted its position in Integer by 48.6% during the first quarter. Versor Investments LP now owns 3,404 shares of the medical equipment provider's stock worth $402,000 after buying an additional 1,113 shares in the last quarter. Raymond James Financial Inc. lifted its position in Integer by 6.9% during the first quarter. Raymond James Financial Inc. now owns 307,141 shares of the medical equipment provider's stock worth $36,245,000 after buying an additional 19,839 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Integer by 14.7% during the first quarter. Russell Investments Group Ltd. now owns 6,749 shares of the medical equipment provider's stock worth $796,000 after buying an additional 863 shares in the last quarter. Hedge funds and other institutional investors own 99.29% of the company's stock.

Insiders Place Their Bets

In other news, Director Martin C. Maxwell sold 8,720 shares of Integer stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $120.56, for a total value of $1,051,283.20. Following the completion of the sale, the director directly owned 22,170 shares of the company's stock, valued at approximately $2,672,815.20. The trade was a 28.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Donald J. Spence sold 14,739 shares of Integer stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $120.38, for a total value of $1,774,280.82. Following the completion of the sale, the director directly owned 18,781 shares of the company's stock, valued at $2,260,856.78. The trade was a 43.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.16% of the company's stock.

Integer Trading Up 3.6%

Shares of NYSE ITGR opened at $110.6490 on Friday. Integer Holdings Corporation has a twelve month low of $104.93 and a twelve month high of $146.36. The company has a current ratio of 3.41, a quick ratio of 2.18 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $113.76 and a 200-day simple moving average of $119.04. The stock has a market capitalization of $3.88 billion, a PE ratio of 48.74, a PEG ratio of 0.87 and a beta of 1.02.

Integer (NYSE:ITGR - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported $1.55 earnings per share for the quarter, missing analysts' consensus estimates of $1.57 by ($0.02). Integer had a net margin of 4.61% and a return on equity of 12.27%. The firm had revenue of $476.00 million during the quarter, compared to analyst estimates of $464.37 million. During the same period in the previous year, the firm posted $1.30 earnings per share. The company's quarterly revenue was up 11.4% compared to the same quarter last year. Integer has set its FY 2025 guidance at 6.250-6.510 EPS. On average, equities analysts forecast that Integer Holdings Corporation will post 6.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial reduced their price objective on Integer from $145.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. Wells Fargo & Company cut their target price on Integer from $152.00 to $132.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Wall Street Zen raised Integer from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Raymond James Financial cut their target price on Integer from $150.00 to $143.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Finally, Citigroup raised Integer from a "hold" rating to a "strong-buy" rating and raised their target price for the stock from $133.00 to $140.00 in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $140.25.

About Integer

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.