Transmarket Holdings LP Acquires New Shares in Integer Holdings Corporation $ITGR

Key Points

• Transmarket Holdings LP acquired 23,775 shares of Integer Holdings in the third quarter, valued at approximately $3.0 million. Institutional investors collectively own 99.29% of the company.
• Integer’s shares opened at $126.59, near their 52-week high of $126.83, after the company exceeded quarterly earnings expectations with $1.60 EPS versus the $1.38 consensus estimate.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from 12 analysts and an average price target of $113.67, below its current price. Insiders have also sold 40,948 shares worth about $5.17 million over the past 90 days.

Transmarket Holdings LP bought a new position in Integer Holdings Corporation (NYSE:ITGR - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,775 shares of the medical equipment provider's stock, valued at approximately $3,004,000. Integer makes up about 1.7% of Transmarket Holdings LP's holdings, making the stock its 12th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Integer in the second quarter valued at $29,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Integer by 48.1% during the first quarter. EverSource Wealth Advisors LLC now owns 360 shares of the medical equipment provider's stock valued at $32,000 after acquiring an additional 117 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Integer by 987.2% during the third quarter. Fortitude Family Office LLC now owns 424 shares of the medical equipment provider's stock valued at $54,000 after acquiring an additional 385 shares during the period. Harbor Investment Advisory LLC acquired a new stake in shares of Integer in the 2nd quarter valued at $42,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Integer by 64.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 490 shares of the medical equipment provider's stock valued at $62,000 after purchasing an additional 192 shares in the last quarter. Institutional investors own 99.29% of the company's stock.

Integer Price Performance

Shares of ITGR stock opened at $126.59 on Thursday. The stock's fifty day moving average is $126.18 and its 200-day moving average is $100.40. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.41 and a current ratio of 3.73. The stock has a market capitalization of $4.30 billion, a PE ratio of 34.59, a PEG ratio of 2.41 and a beta of 0.58. Integer Holdings Corporation has a 52 week low of $62.00 and a 52 week high of $126.83.

Integer (NYSE:ITGR - Get Free Report) last announced its earnings results on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.22. The company had revenue of $464.11 million during the quarter, compared to analyst estimates of $451.07 million. Integer had a return on equity of 12.79% and a net margin of 6.97%. The firm's quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company posted $1.55 earnings per share. Equities research analysts expect that Integer Holdings Corporation will post 6.09 EPS for the current fiscal year.

Insider Activity

In other news, insider Kirk K. Thor sold 11,767 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $126.23, for a total transaction of $1,485,348.41. Following the transaction, the insider directly owned 7,153 shares in the company, valued at approximately $902,923.19. This represents a 62.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew Senn sold 9,408 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $126.30, for a total transaction of $1,188,230.40. Following the sale, the insider directly owned 5,405 shares in the company, valued at $682,651.50. This trade represents a 63.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 40,948 shares of company stock valued at $5,169,920 in the last 90 days. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ITGR. Zacks Research raised shares of Integer from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. KeyCorp cut shares of Integer from an "overweight" rating to a "sector weight" rating in a research note on Monday, August 3rd. Benchmark cut shares of Integer from a "buy" rating to a "hold" rating in a research note on Thursday, August 13th. Oppenheimer lowered shares of Integer from an "outperform" rating to a "market perform" rating in a report on Monday, August 3rd. Finally, Freedom Capital cut shares of Integer from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $113.67.

About Integer

Integer Holdings Corporation NYSE: ITGR is a global medical device and advanced energy technology company. It partners with original equipment manufacturers to design and manufacture components, subassemblies and finished products used in minimally invasive and implantable medical devices.

Its medical technologies include batteries and power systems for pacemakers, implantable cardioverter-defibrillators, neurostimulators and drug-delivery systems, as well as catheter and guidewire components, coated wire, electrodes and other products used in cardiovascular, neuromodulation and other medical applications.

Integer also develops specialty batteries and power solutions for markets such as energy, aerospace and defense.

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