Integer Holdings Corporation $ITGR Shares Sold by Choreo LLC

Key Points

• Choreo LLC cut its Integer Holdings stake by 71.7% in the third quarter, selling 15,931 shares and retaining 6,277 shares valued at about $793,000. Institutional investors collectively own 99.29% of the company.
• Integer’s latest quarterly results fell short of expectations: EPS was $1.34 versus $1.68 forecast, while revenue of $449.66 million missed estimates and declined 3.8% year over year.
• Analyst sentiment is mostly cautious: 11 analysts rate the stock Hold and one rates it Buy, with an average price target of $113.67. Two company insiders also sold shares, and insiders sold 40,948 shares worth about $5.17 million over 90 days.

Choreo LLC lessened its position in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 71.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,277 shares of the medical equipment provider's stock after selling 15,931 shares during the quarter. Choreo LLC's holdings in Integer were worth $793,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of Integer by 48.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 360 shares of the medical equipment provider's stock valued at $32,000 after purchasing an additional 117 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Integer by 4.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,180 shares of the medical equipment provider's stock valued at $297,000 after acquiring an additional 142 shares during the period. Glenmede Trust Co. NA grew its stake in Integer by 3.6% in the 1st quarter. Glenmede Trust Co. NA now owns 4,805 shares of the medical equipment provider's stock valued at $423,000 after acquiring an additional 166 shares during the period. Farther Finance Advisors LLC increased its holdings in Integer by 64.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 490 shares of the medical equipment provider's stock worth $62,000 after acquiring an additional 192 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Integer by 4.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,912 shares of the medical equipment provider's stock worth $432,000 after acquiring an additional 219 shares in the last quarter. Institutional investors and hedge funds own 99.29% of the company's stock.

Integer Stock Performance

NYSE:ITGR opened at $126.64 on Thursday. The company's 50-day moving average is $126.32 and its two-hundred day moving average is $101.46. Integer Holdings Corporation has a 1-year low of $66.00 and a 1-year high of $126.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.98 and a quick ratio of 2.60. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 42.50, a PEG ratio of 2.41 and a beta of 0.60.

Integer (NYSE:ITGR - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The medical equipment provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.68 by ($0.34). The firm had revenue of $449.66 million for the quarter, compared to analyst estimates of $456.91 million. Integer had a return on equity of 11.84% and a net margin of 5.68%. The firm's quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.79 EPS. Analysts forecast that Integer Holdings Corporation will post 6.09 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ITGR. Piper Sandler downgraded Integer from an "overweight" rating to a "hold" rating and set a $127.00 target price on the stock. in a research report on Monday, August 3rd. Weiss Ratings upgraded Integer from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 23rd. Citigroup boosted their price target on Integer from $92.00 to $96.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Freedom Capital downgraded Integer from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, KeyCorp lowered shares of Integer from an "overweight" rating to a "sector weight" rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $113.67.

Insider Buying and Selling at Integer

In other news, insider Kirk Thor sold 19,773 shares of Integer stock in a transaction on Monday, September 14th. The stock was sold at an average price of $126.25, for a total value of $2,496,341.25. Following the completion of the sale, the insider directly owned 18,920 shares of the company's stock, valued at approximately $2,388,650. The trade was a 51.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Senn sold 9,408 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $126.30, for a total value of $1,188,230.40. Following the completion of the sale, the insider owned 5,405 shares in the company, valued at $682,651.50. This represents a 63.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 40,948 shares of company stock valued at $5,169,920. Company insiders own 1.10% of the company's stock.

Integer Company Profile

Integer Holdings Corporation NYSE: ITGR is a global medical device and advanced energy technology company. It partners with original equipment manufacturers to design and manufacture components, subassemblies and finished products used in minimally invasive and implantable medical devices.

Its medical technologies include batteries and power systems for pacemakers, implantable cardioverter-defibrillators, neurostimulators and drug-delivery systems, as well as catheter and guidewire components, coated wire, electrodes and other products used in cardiovascular, neuromodulation and other medical applications.

Integer also develops specialty batteries and power solutions for markets such as energy, aerospace and defense.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.