Ameriprise Financial Inc. Cuts 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. lessened its stake in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 73.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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 approximately 4.13% of Integer worth $170,191,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ITGR. Jump Financial LLC acquired a new stake in shares of Integer in the 4th quarter worth $354,000. MetLife Investment Management LLC boosted its position in shares of Integer by 4.8% in the 4th quarter. MetLife Investment Management LLC now owns 20,165 shares of the medical equipment provider's stock worth $2,672,000 after purchasing an additional 915 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Integer by 123.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,459 shares of the medical equipment provider's stock worth $591,000 after purchasing an additional 2,465 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Integer by 2.4% in the 4th quarter. Stifel Financial Corp now owns 32,290 shares of the medical equipment provider's stock worth $4,279,000 after purchasing an additional 772 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Integer by 115.8% in the 4th quarter. Hsbc Holdings PLC now owns 12,562 shares of the medical equipment provider's stock worth $1,676,000 after purchasing an additional 6,741 shares in the last quarter. Institutional investors own 99.29% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at Integer

In other Integer news, Director Martin C. Maxwell sold 8,720 shares of Integer stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $120.56, for a total transaction of $1,051,283.20. Following the completion of the transaction, the director owned 22,170 shares in the company, valued at approximately $2,672,815.20. This trade represents a 28.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Donald J. Spence sold 14,739 shares of Integer stock in a transaction dated 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 transaction, the director owned 18,781 shares of the company's stock, valued at $2,260,856.78. The trade was a 43.97% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.16% of the company's stock.

Integer Stock Performance

ITGR traded down $0.04 on Friday, reaching $107.34. 20,652 shares of the stock were exchanged, compared to its average volume of 470,622. The company's 50-day moving average price is $112.91 and its 200 day moving average price is $118.31. Integer Holdings Corporation has a fifty-two week low of $104.93 and a fifty-two week high of $146.36. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.41 and a quick ratio of 2.18. The firm has a market capitalization of $3.76 billion, a PE ratio of 47.25, a PEG ratio of 0.85 and a beta of 1.02.

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

Integer 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.