Heartland Advisors Inc. Has $4.72 Million Position in Integer Holdings Corporation (NYSE:ITGR)

Key Points

• Heartland Advisors Inc. reduced its stake in Integer Holdings Corporation (NYSE:ITGR) by 11.1%, owning 40,000 shares valued at approximately $4.72 million after selling 5,000 shares in the first quarter.
• Integer Holdings reported $1.55 EPS for the latest quarter, missing analyst estimates, while achieving a revenue of $476 million, which is an 11.4% increase compared to the same quarter last year.
• Multiple institutional investors have adjusted their holdings in Integer, with Bessemer Group Inc. making a significant increase of 73.1% in their stake during the first quarter.

Heartland Advisors Inc. trimmed its holdings in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,000 shares of the medical equipment provider's stock after selling 5,000 shares during the period. Heartland Advisors Inc. owned approximately 0.11% of Integer worth $4,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Corient Private Wealth LLC grew its position in shares of Integer by 6.4% in the fourth quarter. Corient Private Wealth LLC now owns 1,969 shares of the medical equipment provider's stock valued at $261,000 after purchasing an additional 118 shares in the last quarter. Xponance Inc. grew its stake in shares of Integer by 9.5% in the fourth quarter. Xponance Inc. now owns 2,396 shares of the medical equipment provider's stock valued at $318,000 after buying an additional 207 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Integer in the fourth quarter valued at $875,000. LPL Financial LLC grew its stake in Integer by 26.0% during the 4th quarter. LPL Financial LLC now owns 44,508 shares of the medical equipment provider's stock worth $6,165,000 after purchasing an additional 9,196 shares in the last quarter. Finally, Artisan Partners Limited Partnership acquired a new position in Integer during the 4th quarter worth $22,775,000. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wells Fargo & Company lowered 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. Benchmark decreased their target price on Integer from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Wall Street Zen raised Integer from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Raymond James Financial reduced their price objective on Integer from $150.00 to $143.00 and set an "outperform" rating for the company in a report on Friday. Finally, KeyCorp reduced their price objective on Integer from $154.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $140.25.

Integer Stock Performance

Shares of ITGR traded up $1.07 during midday trading on Friday, hitting $108.17. 614,623 shares of the stock traded hands, compared to its average volume of 452,854. The business's 50 day moving average price is $118.78 and its two-hundred day moving average price is $123.58. The firm has a market capitalization of $3.77 billion, a PE ratio of 47.65, a price-to-earnings-growth ratio of 0.93 and a beta of 0.98. Integer Holdings Corporation has a 1-year low of $104.93 and a 1-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.

Integer (NYSE:ITGR - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported $1.55 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 company's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 EPS. Equities research analysts predict that Integer Holdings Corporation will post 6.01 EPS for the current fiscal year.

Insider Activity at Integer

In other news, Director Donald J. Spence sold 14,739 shares of the business's 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin C. Maxwell sold 8,720 shares of the business'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 completion of the transaction, the director directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 362,434 shares of company stock worth $44,577,115. 2.16% of the stock is owned by corporate insiders.

Integer Company 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.