Integer Holdings Corporation $ITGR Shares Sold by Channing Capital Management LLC

Key Points

• Channing Capital Management LLC has reduced its stake in Integer Holdings Corporation by 3.5%, currently owning approximately 611,597 shares valued at around $72.2 million.
• Multiple large investors are increasing their holdings in Integer, with significant lifts such as 472.9% by Sterling Capital Management LLC and 1,234.8% by Headlands Technologies LLC.
• Integer reported $1.55 earnings per share for the last quarter, missing estimates, but had an 11.4% year-over-year revenue increase to $476 million, indicating ongoing growth potential despite short-term earnings miss.

Channing Capital Management LLC cut its stake in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 611,597 shares of the medical equipment provider's stock after selling 22,283 shares during the quarter. Integer accounts for approximately 2.2% of Channing Capital Management LLC's holdings, making the stock its 17th biggest position. Channing Capital Management LLC owned approximately 1.75% of Integer worth $72,175,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ITGR. Wealth Enhancement Advisory Services LLC purchased a new position in Integer during the fourth quarter worth about $208,000. Teacher Retirement System of Texas purchased a new position in shares of Integer during the 1st quarter worth approximately $579,000. Northern Trust Corp raised its stake in shares of Integer by 14.2% during the 4th quarter. Northern Trust Corp now owns 422,380 shares of the medical equipment provider's stock worth $55,974,000 after buying an additional 52,556 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Integer in the 1st quarter valued at approximately $272,000. Finally, Sterling Capital Management LLC boosted its stake in shares of Integer by 472.9% in the fourth quarter. Sterling Capital Management LLC now owns 338 shares of the medical equipment provider's stock valued at $45,000 after buying an additional 279 shares in the last quarter. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ITGR shares. Raymond James Financial cut 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 target on shares of Integer from $152.00 to $132.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. Wall Street Zen upgraded shares of Integer from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Citigroup raised shares of Integer from a "hold" rating to a "strong-buy" rating and boosted their price objective for the stock from $133.00 to $140.00 in a report on Thursday, May 22nd. Finally, Truist Financial dropped their target price on shares of Integer from $145.00 to $137.00 and set a "buy" rating for the company in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $140.25.

Integer Price Performance

NYSE:ITGR traded up $3.8190 during mid-day trading on Friday, hitting $110.6490. 256,433 shares of the company's stock traded hands, compared to its average volume of 373,536. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.18 and a current ratio of 3.41. The company has a market cap of $3.88 billion, a PE ratio of 48.74, a price-to-earnings-growth ratio of 0.87 and a beta of 1.02. The firm's 50 day simple moving average is $113.76 and its 200 day simple moving average is $118.89. Integer Holdings Corporation has a 1 year low of $104.93 and a 1 year high of $146.36.

Integer (NYSE:ITGR - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The medical equipment provider reported $1.55 EPS 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 during the quarter, compared to analyst estimates of $464.37 million. During the same quarter in the prior year, the company earned $1.30 earnings per share. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. Integer has set its FY 2025 guidance at 6.250-6.510 EPS. Sell-side analysts expect that Integer Holdings Corporation will post 6.01 EPS for the current year.

Insiders Place Their Bets

In other Integer news, Director Martin C. Maxwell sold 8,720 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $120.56, for a total value of $1,051,283.20. Following the transaction, the director directly owned 22,170 shares in the company, valued at approximately $2,672,815.20. This represents a 28.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $120.38, for a total transaction of $1,774,280.82. Following the sale, the director owned 18,781 shares of the company's stock, valued at approximately $2,260,856.78. This trade represents a 43.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.16% of the stock is owned by company insiders.

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.