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 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,858 shares of the medical equipment provider's stock, valued at approximately $455,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in shares of Integer by 11.2% during the first quarter. PNC Financial Services Group Inc. now owns 3,605 shares of the medical equipment provider's stock valued at $425,000 after buying an additional 362 shares during the period. US Bancorp DE raised its position in Integer by 2.3% during the first quarter. US Bancorp DE now owns 11,820 shares of the medical equipment provider's stock valued at $1,395,000 after acquiring an additional 271 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Integer by 117.7% in the first quarter. Natixis Advisors LLC now owns 94,202 shares of the medical equipment provider's stock worth $11,117,000 after acquiring an additional 50,924 shares during the last quarter. XTX Topco Ltd boosted its stake in Integer by 87.1% during the first quarter. XTX Topco Ltd now owns 4,190 shares of the medical equipment provider's stock worth $494,000 after buying an additional 1,951 shares during the last quarter. Finally, First National Advisers LLC acquired a new position in Integer during the first quarter worth $436,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Integer

In related 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 transaction of $1,051,283.20. Following the completion of the transaction, the director owned 22,170 shares of the company's stock, 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald J. Spence sold 14,739 shares of Integer stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $120.38, for a total transaction of $1,774,280.82. Following the transaction, the director owned 18,781 shares of the company's stock, 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 corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on ITGR. Raymond James Financial reduced their price target on Integer from $150.00 to $143.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Wall Street Zen upgraded Integer from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Truist Financial cut their target price on Integer from $145.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Wells Fargo & Company cut their price objective on Integer from $152.00 to $132.00 and set an "overweight" rating for the company in a report on Friday, July 25th. Finally, Benchmark decreased their price objective on Integer from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Two 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, Integer has a consensus rating of "Moderate Buy" and a consensus price target of $140.25.

Integer Trading Down 1.8%

Shares of ITGR stock traded down $1.99 on Friday, hitting $106.52. The stock had a trading volume of 379,870 shares, compared to its average volume of 518,273. The firm has a market cap of $3.73 billion, a P/E ratio of 46.93, a PEG ratio of 0.84 and a beta of 1.02. The company has a current ratio of 3.41, a quick ratio of 2.18 and a debt-to-equity ratio of 0.72. Integer Holdings Corporation has a twelve month low of $104.93 and a twelve month high of $146.36. The company has a fifty day moving average price of $117.65 and a two-hundred day moving average price of $122.68.

Integer (NYSE:ITGR - Get Free Report) last announced its earnings results on Thursday, July 24th. The medical equipment provider reported $1.55 earnings per share for the quarter, missing analysts' consensus estimates of $1.57 by ($0.02). The company 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%. Integer's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 earnings per share. 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.