Integer Holdings Corporation (NYSE:ITGR) Shares Bought by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Integer Holdings Corporation by 11.4% during the first quarter, acquiring an additional 5,077 shares and bringing its total ownership to 49,585 shares valued at approximately $5.68 million.
• Recent analyst reports indicated mixed ratings for Integer's stock, with prices adjusted; most notably, Citigroup upgraded it to a "strong-buy" and set a target price of $140.00.
• Insider trading activity included the sale of shares by directors Donald J. Spence and Martin C. Maxwell, reducing their holdings by 43.97% and 28.23% respectively, amid a backdrop of 99.29% institutional ownership.

LPL Financial LLC grew its stake in Integer Holdings Corporation (NYSE:ITGR - Free Report) by 11.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,585 shares of the medical equipment provider's stock after buying an additional 5,077 shares during the quarter. LPL Financial LLC owned approximately 0.14% of Integer worth $5,683,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Knights of Columbus Asset Advisors LLC lifted its stake in shares of Integer by 2.7% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 18,685 shares of the medical equipment provider's stock valued at $2,205,000 after purchasing an additional 489 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Integer during the 1st quarter worth $1,527,000. Guidance Capital Inc. increased its holdings in Integer by 5.8% during the 1st quarter. Guidance Capital Inc. now owns 3,819 shares of the medical equipment provider's stock worth $480,000 after purchasing an additional 208 shares during the period. Cooke & Bieler LP increased its holdings in shares of Integer by 6.3% in the 1st quarter. Cooke & Bieler LP now owns 317,393 shares of the medical equipment provider's stock valued at $37,456,000 after acquiring an additional 18,790 shares during the period. Finally, Edgestream Partners L.P. increased its holdings in shares of Integer by 208.4% in the 1st quarter. Edgestream Partners L.P. now owns 36,729 shares of the medical equipment provider's stock valued at $4,334,000 after acquiring an additional 24,819 shares during the period. Hedge funds and other institutional investors own 99.29% of the company's stock.

Integer Stock Performance

ITGR traded down $2.82 during trading on Thursday, reaching $106.76. The company's stock had a trading volume of 200,151 shares, compared to its average volume of 488,911. Integer Holdings Corporation has a 52-week low of $104.93 and a 52-week high of $146.36. The company's fifty day moving average price is $115.34 and its 200-day moving average price is $120.63. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 47.03, a price-to-earnings-growth ratio of 0.87 and a beta of 1.02. 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 announced its quarterly 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). The firm had revenue of $476.00 million for the quarter, compared to analysts' expectations of $464.37 million. Integer had a return on equity of 12.27% and a net margin of 4.61%. Integer's revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $1.30 EPS. On average, equities analysts forecast that Integer Holdings Corporation will post 6.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on ITGR shares. KeyCorp lowered their price target on Integer from $154.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Wall Street Zen raised Integer from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Raymond James Financial cut their target price on Integer from $150.00 to $143.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Citigroup upgraded Integer from a "hold" rating to a "strong-buy" rating and raised their price target for the stock from $133.00 to $140.00 in a research report on Thursday, May 22nd. Finally, Truist Financial decreased their target price on Integer from $145.00 to $137.00 and set a "buy" rating for the company in a report on Friday, July 25th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $140.25.

Insider Activity at Integer

In related news, Director Donald J. Spence sold 14,739 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $120.38, for a total value of $1,774,280.82. Following the sale, the director owned 18,781 shares of the company's stock, valued at approximately $2,260,856.78. This represents a 43.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin C. Maxwell sold 8,720 shares of the company's stock in a transaction that occurred 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 directly owned 22,170 shares in the company, valued at approximately $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 insiders.

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.