Malaga Cove Capital LLC Takes Position in Integer Holdings Corporation (NYSE:ITGR)

Key Points

• Malaga Cove Capital LLC acquired a new stake in Integer Holdings Corporation, purchasing 3,858 shares valued at approximately $455,000.
• Institutional investors own 99.29% of Integer's stock, with several firms, including PNC Financial Services Group and Natixis Advisors, significantly increasing their holdings in the company during the first quarter.
• Integer's most recent earnings report showed a slight miss on earnings per share but an 11.4% year-over-year revenue increase, raising analysts' expectations for the current year.

Malaga Cove Capital LLC purchased a new stake in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 3,858 shares of the medical equipment provider's stock, valued at approximately $455,000.

A number of other large investors have also added to or reduced their stakes in ITGR. LPL Financial LLC boosted 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 valued at $6,165,000 after acquiring an additional 9,196 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Integer by 1.0% during the 4th quarter. Alliancebernstein L.P. now owns 42,781 shares of the medical equipment provider's stock valued at $5,669,000 after acquiring an additional 410 shares during the last quarter. HighPoint Advisor Group LLC boosted its stake in Integer by 6.4% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,684 shares of the medical equipment provider's stock valued at $234,000 after acquiring an additional 101 shares during the last quarter. Riverwater Partners LLC bought a new position in Integer during the 4th quarter valued at $1,588,000. Finally, Raymond James Financial Inc. bought a new position in Integer during the 4th quarter valued at $38,073,000. 99.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Integer

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ITGR shares. Truist Financial reduced their price target on shares of Integer from $145.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. Wells Fargo & Company cut their price objective on shares of Integer from $152.00 to $132.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. Citigroup upgraded shares of Integer from a "hold" rating to a "strong-buy" rating and lifted their price objective for the company from $133.00 to $140.00 in a research report on Thursday, May 22nd. Wall Street Zen upgraded shares of Integer from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Finally, Benchmark cut their price objective on shares of Integer from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Two equities research 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $140.25.

Integer Price Performance

Integer stock traded down $1.27 during trading hours on Wednesday, hitting $106.45. 88,979 shares of the company traded hands, compared to its average volume of 492,793. The firm's 50-day simple moving average is $117.14 and its two-hundred day simple moving average is $122.22. The firm has a market cap of $3.73 billion, a P/E ratio of 46.90, a P/E/G 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 Holdings Corporation has a 1-year low of $104.93 and a 1-year high of $146.36.

Integer (NYSE:ITGR - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.02). The business 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 business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 EPS. As a group, analysts forecast that Integer Holdings Corporation will post 6.01 earnings per share for the current fiscal year.

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.