Entropy Technologies LP Makes New $719,000 Investment in Integer Holdings Corporation (NYSE:ITGR)

Key Points

• Entropy Technologies LP has acquired a new stake in Integer Holdings Corporation, purchasing 6,093 shares valued at approximately $719,000.
• Integer has seen significant activity from institutional investors, with 99.29% of its stock now owned by these entities, including notable increases from firms like Sterling Capital Management and Headlands Technologies.
• The stock received mixed ratings from analysts, with a consensus target price of $140.25 and varied recommendations, including a "strong buy" from Citigroup and "hold" from Wall Street Zen.

Entropy Technologies LP purchased a new stake in Integer Holdings Corporation (NYSE:ITGR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 6,093 shares of the medical equipment provider's stock, valued at approximately $719,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in shares of Integer by 16.0% during the 4th quarter. Capital Research Global Investors now owns 1,410,803 shares of the medical equipment provider's stock worth $186,960,000 after purchasing an additional 194,895 shares during the last quarter. Congress Asset Management Co. increased its stake in shares of Integer by 4.9% during the 1st quarter. Congress Asset Management Co. now owns 522,656 shares of the medical equipment provider's stock worth $61,679,000 after purchasing an additional 24,306 shares during the last quarter. Driehaus Capital Management LLC increased its stake in shares of Integer by 5.5% during the 4th quarter. Driehaus Capital Management LLC now owns 451,464 shares of the medical equipment provider's stock worth $59,828,000 after purchasing an additional 23,706 shares during the last quarter. Northern Trust Corp increased 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 purchasing an additional 52,556 shares during the last quarter. Finally, Cooke & Bieler LP increased its stake in shares of Integer by 6.3% during the 1st quarter. Cooke & Bieler LP now owns 317,393 shares of the medical equipment provider's stock worth $37,456,000 after purchasing an additional 18,790 shares during the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Integer

In related news, Director Donald J. Spence sold 14,739 shares of the stock in a transaction that occurred 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 transaction, the director owned 18,781 shares of the company's stock, valued at $2,260,856.78. This represents a 43.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin C. Maxwell sold 8,720 shares of the firm's stock in a transaction 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 transaction, the director directly owned 22,170 shares of the company's stock, valued at $2,672,815.20. The trade was a 28.23% decrease in their position. The disclosure for this sale can be found here. 2.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Integer from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. KeyCorp cut their price objective on shares of Integer from $154.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Wells Fargo & Company cut their price objective on shares of Integer from $152.00 to $132.00 and set an "overweight" rating for the company in a report on Friday, July 25th. Truist Financial cut their price objective 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. Finally, Benchmark cut their price objective on shares of Integer from $150.00 to $140.00 and set a "buy" rating for the company in a report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $140.25.

Integer Price Performance

Shares of Integer stock traded up $0.07 on Friday, reaching $106.84. 202,340 shares of the stock were exchanged, compared to its average volume of 471,183. The firm's 50 day moving average is $115.06 and its 200-day moving average is $120.22. Integer Holdings Corporation has a one year low of $104.93 and a one year high of $146.36. 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 firm has a market cap of $3.74 billion, a PE ratio of 47.07, a P/E/G ratio of 0.84 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 earnings per share 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 the consensus estimate 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 last year, the company posted $1.30 EPS. As a group, analysts anticipate that Integer Holdings Corporation will post 6.01 EPS for the current fiscal year.

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.