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 Integer Holdings Corporation (NYSE:ITGR - Free Report) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 611,597 shares of the medical equipment provider's stock after selling 22,283 shares during the quarter. Integer makes up approximately 2.2% of Channing Capital Management LLC's investment portfolio, making the stock its 17th largest position. Channing Capital Management LLC owned approximately 1.75% of Integer worth $72,175,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AdvisorNet Financial Inc purchased a new stake in Integer during the first quarter worth $28,000. Opal Wealth Advisors LLC acquired a new stake in Integer during the first quarter valued at $28,000. Bessemer Group Inc. grew its position in Integer by 73.1% during the first quarter. Bessemer Group Inc. now owns 296 shares of the medical equipment provider's stock valued at $35,000 after buying an additional 125 shares during the period. Sterling Capital Management LLC grew its position in Integer by 472.9% during 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 during the period. Finally, Headlands Technologies LLC grew its position in Integer by 1,234.8% during the first quarter. Headlands Technologies LLC now owns 1,228 shares of the medical equipment provider's stock valued at $145,000 after buying an additional 1,136 shares during the period. Institutional investors and hedge funds own 99.29% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ITGR. Wall Street Zen upgraded Integer from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Truist Financial cut 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. Wells Fargo & Company cut 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. 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. Finally, Citigroup upgraded 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. One investment 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 company's stock. According to MarketBeat, Integer presently has a consensus rating of "Buy" and an average target price of $140.25.

Integer Price Performance

Shares of NYSE:ITGR traded up $0.20 during trading on Tuesday, reaching $108.99. The stock had a trading volume of 46,258 shares, compared to its average volume of 475,780. 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 business has a fifty day moving average price of $113.57 and a 200-day moving average price of $118.67. The stock has a market cap of $3.82 billion, a PE ratio of 47.87, a PEG ratio of 0.87 and a beta of 1.02. 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 issued its quarterly earnings results on Thursday, July 24th. The medical equipment provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.02). The firm had revenue of $476.00 million during 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 earnings per share. 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 fiscal year.

Insider Buying and Selling

In other Integer news, Director Martin C. Maxwell sold 8,720 shares of the business's stock in a transaction on 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 transaction, the director 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Donald J. Spence sold 14,739 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $120.38, for a total value of $1,774,280.82. Following the transaction, the director directly owned 18,781 shares in the company, valued at $2,260,856.78. This trade represents a 43.97% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.16% of the company's stock.

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.