Jefferies Financial Group Inc. Reduces Position in Integer Holdings Corporation (NYSE:ITGR)

Key Points

• Jefferies Financial Group Inc. sold 3,297,945 shares of Integer Holdings Corporation, reducing its stake by 98.9%, and now owns 37,706 shares valued at approximately $4.45 million.
• Integer's stock has a market capitalization of $3.73 billion, with a recent P/E ratio of 46.93 and a 52-week price range of $104.93 to $146.36.
• A number of analysts have upgraded Integer Holdings, with Citigroup raising its rating to "strong-buy" and increasing the target price from $133 to $140.

Jefferies Financial Group Inc. decreased its position in Integer Holdings Corporation (NYSE:ITGR - Free Report) by 98.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 37,706 shares of the medical equipment provider's stock after selling 3,297,945 shares during the period. Jefferies Financial Group Inc. owned about 0.11% of Integer worth $4,450,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITGR. AdvisorNet Financial Inc bought a new position in shares of Integer during the 1st quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new stake in Integer in the 1st quarter worth $28,000. Bessemer Group Inc. grew its position in Integer by 73.1% in the 1st quarter. Bessemer Group Inc. now owns 296 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 125 shares during the last quarter. Sterling Capital Management LLC boosted its position in shares of Integer by 472.9% during the 4th quarter. Sterling Capital Management LLC now owns 338 shares of the medical equipment provider's stock valued at $45,000 after acquiring an additional 279 shares in the last quarter. Finally, Contravisory Investment Management Inc. boosted its position in shares of Integer by 103.9% during the 1st quarter. Contravisory Investment Management Inc. now owns 1,413 shares of the medical equipment provider's stock valued at $167,000 after acquiring an additional 720 shares in the last quarter. Institutional investors and hedge funds own 99.29% of the company's stock.

Integer Stock Performance

NYSE:ITGR traded up $0.80 during mid-day trading on Tuesday, reaching $107.63. 64,584 shares of the company's stock were exchanged, compared to its average volume of 494,427. Integer Holdings Corporation has a one year low of $104.93 and a one year high of $146.36. The firm has a market capitalization of $3.77 billion, a PE ratio of 47.42, a price-to-earnings-growth ratio of 0.84 and a beta of 1.02. The business's fifty day simple moving average is $117.42 and its two-hundred day simple moving average is $122.32. 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 earnings results on Thursday, July 24th. The medical equipment provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.02). Integer had a net margin of 4.61% and a return on equity of 12.27%. The firm had revenue of $476.00 million during the quarter, compared to the consensus estimate of $464.37 million. During the same period in the prior year, the business earned $1.30 earnings per share. Integer's quarterly revenue was up 11.4% compared to the same quarter last year. Analysts anticipate that Integer Holdings Corporation will post 6.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on ITGR. Wells Fargo & Company cut their price target 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. Wall Street Zen raised shares of Integer from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Benchmark decreased 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. Truist Financial reduced their price target 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, KeyCorp reduced their target price 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. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $140.25.

Insider Activity at Integer

In other news, Director Martin C. Maxwell sold 8,720 shares of Integer stock in a transaction on 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 owned 22,170 shares in the company, valued at $2,672,815.20. The trade was a 28.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Donald J. Spence sold 14,739 shares of Integer stock in a transaction on 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 transaction, the director directly owned 18,781 shares in the company, valued at $2,260,856.78. This represents a 43.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.16% of the stock is currently owned by company 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.