Trust Point Inc. Sells 3,995 Shares of Integer Holdings Corporation (NYSE:ITGR)

Trust Point Inc. reduced its position in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 37.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,538 shares of the medical equipment provider's stock after selling 3,995 shares during the period. Trust Point Inc.'s holdings in Integer were worth $772,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ITGR. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Integer during the 1st quarter worth approximately $33,337,000. Opal Wealth Advisors LLC purchased a new stake in Integer in the 1st quarter valued at about $28,000. Azzad Asset Management Inc. ADV increased its position in Integer by 3.3% during the first quarter. Azzad Asset Management Inc. ADV now owns 12,544 shares of the medical equipment provider's stock worth $1,480,000 after purchasing an additional 406 shares during the last quarter. Portside Wealth Group LLC raised its position in shares of Integer by 8.7% in the 1st quarter. Portside Wealth Group LLC now owns 3,396 shares of the medical equipment provider's stock worth $401,000 after buying an additional 271 shares during the period. Finally, Congress Asset Management Co. raised its holdings in shares of Integer by 4.9% in the 1st quarter. Congress Asset Management Co. now owns 522,656 shares of the medical equipment provider's stock worth $61,679,000 after purchasing an additional 24,306 shares during the period. 99.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Joseph W. Dziedzic sold 338,975 shares of the 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 directly owns 47,000 shares in the company, valued at $5,788,990. This represents a 87.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin C. Maxwell sold 8,720 shares of the firm's stock in a transaction on 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 sale, the director now owns 22,170 shares of the company's stock, valued at approximately $2,672,815.20. This trade represents a 28.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 362,434 shares of company stock worth $44,577,115 over the last quarter. Company insiders own 2.16% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ITGR. KeyCorp decreased their price objective on shares of Integer from $154.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Raymond James Financial increased their target price on Integer from $145.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Truist Financial set a $150.00 target price on shares of Integer and gave the stock a "buy" rating in a research report on Friday, April 25th. Wall Street Zen upgraded Integer from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Finally, Benchmark dropped their price target 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 investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Integer presently has a consensus rating of "Moderate Buy" and an average price target of $145.00.

Integer Stock Performance

NYSE:ITGR traded down $1.05 during mid-day trading on Friday, hitting $117.91. 804,338 shares of the company's stock traded hands, compared to its average volume of 380,249. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 55.88, a price-to-earnings-growth ratio of 1.02 and a beta of 0.98. The firm has a 50 day moving average of $119.87 and a two-hundred day moving average of $126.94. The company has a current ratio of 3.40, a quick ratio of 2.14 and a debt-to-equity ratio of 0.78. Integer Holdings Corporation has a 12 month low of $104.93 and a 12 month high of $146.36.

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 the consensus estimate of $1.27 by $0.04. Integer had a net margin of 4.38% and a return on equity of 11.95%. The company had revenue of $437.39 million for the quarter, compared to analyst estimates of $428.51 million. During the same period last year, the business posted $1.14 EPS. The business's quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts forecast that Integer Holdings Corporation will post 6.01 earnings per share for the current fiscal year.

About Integer

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.