LPL Financial LLC Purchases 5,077 Shares of Integer Holdings Corporation (NYSE:ITGR)

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 boosted its holdings in Integer Holdings Corporation (NYSE:ITGR - Free Report) by 11.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.

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

Insider Buying and Selling at Integer

In other Integer news, Director Martin C. Maxwell sold 8,720 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $120.56, for a total transaction of $1,051,283.20. Following the transaction, the director owned 22,170 shares in the company, valued at $2,672,815.20. The trade was a 28.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Donald J. Spence sold 14,739 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $120.38, for a total value of $1,774,280.82. Following the transaction, the director directly owned 18,781 shares of the company's stock, valued at $2,260,856.78. This trade represents a 43.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.16% of the company's stock.

Analysts Set New Price Targets

ITGR has been the subject of a number of research analyst reports. KeyCorp decreased their target price on Integer from $154.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Wells Fargo & Company cut their price target on 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 upgraded Integer from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Benchmark cut their price target on Integer from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Truist Financial lowered their price objective on Integer from $145.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Two 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $140.25.

Integer Price Performance

ITGR stock traded up $0.07 during midday trading on Friday, hitting $106.84. The company's stock had a trading volume of 202,340 shares, compared to its average volume of 471,183. The company has a 50 day moving average of $115.06 and a two-hundred day moving average of $120.22. Integer Holdings Corporation has a 12 month low of $104.93 and a 12 month high of $146.36. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 47.07, a price-to-earnings-growth ratio of 0.84 and a beta of 1.02. The company has a quick ratio of 2.18, a current ratio of 3.41 and a debt-to-equity ratio of 0.72.

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

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.