Millennium Management LLC Reduces Holdings in Integer Holdings Co. (NYSE:ITGR)

Millennium Management LLC reduced its stake in shares of Integer Holdings Co. (NYSE:ITGR - Free Report) by 74.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,908 shares of the medical equipment provider's stock after selling 13,947 shares during the quarter. Millennium Management LLC's holdings in Integer were worth $650,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mather Group LLC. raised its holdings in Integer by 304.3% in the fourth quarter. Mather Group LLC. now owns 190 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 143 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in shares of Integer during the 4th quarter worth approximately $27,000. Sterling Capital Management LLC lifted its position in Integer by 472.9% during the fourth 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 during the last quarter. Principal Securities Inc. lifted its position in Integer by 31.2% during the fourth quarter. Principal Securities Inc. now owns 639 shares of the medical equipment provider's stock valued at $85,000 after acquiring an additional 152 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Integer by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 737 shares of the medical equipment provider's stock valued at $98,000 after acquiring an additional 532 shares in the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Oppenheimer lowered shares of Integer from an "outperform" rating to a "market perform" rating in a report on Friday, February 21st. Citigroup raised shares of Integer from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $133.00 to $140.00 in a report on Thursday, May 22nd. Truist Financial set a $150.00 price target on shares of Integer and gave the stock a "buy" rating in a report on Friday, April 25th. KeyCorp cut their price objective on shares of Integer from $154.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Wall Street Zen upgraded shares of Integer from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $145.00.

Insider Activity at Integer

In related news, 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 transaction of $1,051,283.20. Following the sale, the director now directly owns 22,170 shares in the company, valued at approximately $2,672,815.20. This represents a 28.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph W. Dziedzic sold 338,975 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $123.17, for a total transaction of $41,751,550.75. Following the sale, the chief executive officer now owns 47,000 shares in the company, valued at $5,788,990. The trade was a 87.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 362,434 shares of company stock worth $44,577,115. Company insiders own 2.16% of the company's stock.

Integer Stock Performance

ITGR opened at $121.25 on Friday. Integer Holdings Co. has a 12-month low of $104.93 and a 12-month high of $146.36. The company has a current ratio of 2.95, a quick ratio of 2.09 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $4.23 billion, a PE ratio of 36.09, a P/E/G ratio of 1.72 and a beta of 0.98. The firm has a 50 day moving average of $118.81 and a two-hundred day moving average of $128.08.

Integer (NYSE:ITGR - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The medical equipment provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.04. Integer had a net margin of 6.92% and a return on equity of 11.65%. The company had revenue of $437.39 million during the quarter, compared to analyst estimates of $428.51 million. During the same period last year, the firm posted $1.14 EPS. Integer's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts anticipate that Integer Holdings Co. 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.

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