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

Several other hedge funds also recently modified their holdings of ITGR. Raymond James Financial Inc. acquired a new stake in Integer during the fourth quarter valued at $38,073,000. Sterling Capital Management LLC boosted 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 purchasing an additional 279 shares during the last quarter. Townsquare Capital LLC boosted its position in Integer by 16.3% during the fourth quarter. Townsquare Capital LLC now owns 31,467 shares of the medical equipment provider's stock valued at $4,170,000 after purchasing an additional 4,412 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in Integer by 5.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,488 shares of the medical equipment provider's stock valued at $462,000 after purchasing an additional 175 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Integer in the fourth quarter worth about $354,000. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Integer news, Director Donald J. Spence sold 14,739 shares of the 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 completion of the transaction, the director owned 18,781 shares in the company, valued at approximately $2,260,856.78. This represents a 43.97% 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 Martin C. Maxwell sold 8,720 shares of Integer 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 completion of the sale, the director directly owned 22,170 shares in the company, valued at $2,672,815.20. This represents 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.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ITGR shares. Truist Financial reduced their price target 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 upgraded Integer from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Citigroup raised Integer from a "hold" rating to a "strong-buy" rating and lifted their price objective for the company from $133.00 to $140.00 in a report on Thursday, May 22nd. KeyCorp reduced their target price on Integer from $154.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Wells Fargo & Company reduced their target price on Integer from $152.00 to $132.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Integer currently has an average rating of "Moderate Buy" and an average price target of $140.25.

Integer Trading Down 2.6%

NYSE:ITGR traded down $2.82 during trading hours on Thursday, hitting $106.76. 200,151 shares of the stock were exchanged, compared to its average volume of 488,911. The company's 50 day moving average is $115.34 and its two-hundred day moving average is $120.63. Integer Holdings Corporation has a twelve month low of $104.93 and a twelve month 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. The company has a market capitalization of $3.74 billion, a P/E ratio of 47.03, a price-to-earnings-growth ratio of 0.87 and a beta of 1.02.

Integer (NYSE:ITGR - Get Free Report) last posted 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). Integer had a net margin of 4.61% and a return on equity of 12.27%. The company had revenue of $476.00 million during the quarter, compared to analyst estimates of $464.37 million. During the same period last year, the company earned $1.30 EPS. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Integer Holdings Corporation will post 6.01 earnings per share 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.