Driehaus Capital Management LLC Cuts Position in Integer Holdings Corporation $ITGR

Key Points

• Driehaus Capital Management LLC has reduced its stake in Integer Holdings Corporation by 41.4%, selling 187,108 shares and now holds approximately 0.76% of the company valued at $31.2 million.
• Several institutional investors have increased their stakes in Integer, including Congress Asset Management Co., which raised its stake by 4.9% to own 522,656 shares.
• Integer's stock currently has a consensus rating of "Buy" with a target price of $140.25, following mixed earnings results in July where it reported missed EPS estimates but exceeded revenue expectations.

Driehaus Capital Management LLC lowered its stake in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 41.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 264,356 shares of the medical equipment provider's stock after selling 187,108 shares during the period. Driehaus Capital Management LLC owned about 0.76% of Integer worth $31,197,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AdvisorNet Financial Inc purchased a new position in shares of Integer during the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of Integer during the 1st quarter valued at about $28,000. Bessemer Group Inc. grew its position in shares of Integer by 73.1% during the 1st quarter. Bessemer Group Inc. now owns 296 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 125 shares during the period. SVB Wealth LLC acquired a new stake in shares of Integer during the 1st quarter valued at about $35,000. Finally, Headlands Technologies LLC grew its position in shares of Integer by 1,234.8% during the 1st quarter. Headlands Technologies LLC now owns 1,228 shares of the medical equipment provider's stock valued at $145,000 after acquiring an additional 1,136 shares during the period. Hedge funds and other institutional investors own 99.29% of the company's stock.

Wall Street Analyst Weigh In

ITGR has been the topic of a number of analyst reports. Raymond James Financial dropped their target price on Integer from $150.00 to $143.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Wall Street Zen upgraded Integer from a "hold" rating to a "buy" rating in a research report on Saturday. Citigroup upgraded Integer from a "hold" rating to a "strong-buy" rating and raised their target price for the company from $133.00 to $140.00 in a research report on Thursday, May 22nd. Truist Financial dropped their target price on Integer from $145.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. Finally, Wells Fargo & Company dropped their target price on Integer from $152.00 to $132.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. One investment 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 company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $140.25.

Integer Price Performance

Shares of Integer stock traded down $0.84 on Tuesday, hitting $107.03. 274,740 shares of the company were exchanged, compared to its average volume of 470,346. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 47.15, a price-to-earnings-growth ratio of 0.85 and a beta of 1.03. The company has a 50-day moving average price of $112.21 and a 200 day moving average price of $117.51. Integer Holdings Corporation has a 1-year low of $104.93 and a 1-year high of $146.36. 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 issued its earnings results 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). The company 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 company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter 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. As a group, sell-side analysts predict that Integer Holdings Corporation will post 6.01 earnings per share for the current fiscal year.

Insider Activity at Integer

In other news, Director Martin C. Maxwell sold 8,720 shares of Integer 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the director directly owned 18,781 shares in the company, valued at approximately $2,260,856.78. The trade was a 43.97% decrease in their position. The disclosure for this sale can be found here. 2.16% of the stock is currently owned by insiders.

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.