Integer Holdings Corporation (NYSE:ITGR) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has reduced its stake in Integer Holdings Corporation by 1.6%, now owning approximately 10.82% of the company, valued at $445.52 million.
• A range of hedge funds have adjusted their positions in Integer, with notable increases in stakes by Bessemer Group Inc. and Sterling Capital Management LLC, reflecting ongoing interest from institutional investors.
• Integer's most recent quarterly earnings report showed revenue growth of 11.4% year-over-year, although earnings per share fell short of analysts' expectations.

Vanguard Group Inc. lowered its stake in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 1.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,775,228 shares of the medical equipment provider's stock after selling 60,342 shares during the quarter. Vanguard Group Inc. owned about 10.82% of Integer worth $445,515,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc acquired a new stake in shares of Integer during the first quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new stake in Integer in the 1st quarter valued at approximately $28,000. Bessemer Group Inc. increased its position in shares of Integer by 73.1% during the 1st quarter. Bessemer Group Inc. now owns 296 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 125 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of Integer by 472.9% during the 4th quarter. Sterling Capital Management LLC now owns 338 shares of the medical equipment provider's stock worth $45,000 after purchasing an additional 279 shares during the last quarter. Finally, Contravisory Investment Management Inc. boosted its stake in shares of Integer by 103.9% during the 1st quarter. Contravisory Investment Management Inc. now owns 1,413 shares of the medical equipment provider's stock worth $167,000 after acquiring an additional 720 shares during the period. Institutional investors own 99.29% of the company's stock.

Integer Price Performance

NYSE:ITGR traded up $0.07 on Friday, reaching $106.84. 202,340 shares of the company's stock traded hands, compared to its average volume of 458,150. The company has a quick ratio of 2.18, a current ratio of 3.41 and a debt-to-equity ratio of 0.72. The stock has a 50-day simple moving average of $115.06 and a 200-day simple moving average of $120.05. The firm has a market cap of $3.74 billion, a PE ratio of 47.07, a P/E/G ratio of 0.84 and a beta of 1.02. 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 released its quarterly earnings results on Thursday, July 24th. The medical equipment provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.02). The company had revenue of $476.00 million during the quarter, compared to analysts' expectations of $464.37 million. Integer had a return on equity of 12.27% and a net margin of 4.61%. The company's revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.30 EPS. Equities research analysts forecast that Integer Holdings Corporation will post 6.01 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on ITGR shares. Citigroup upgraded Integer from a "hold" rating to a "strong-buy" rating and lifted their target price for the stock from $133.00 to $140.00 in a research note on Thursday, May 22nd. Benchmark reduced their price target on Integer from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Friday, April 25th. KeyCorp cut their target price on Integer from $154.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. 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. Finally, Wall Street Zen upgraded Integer from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $140.25.

Insider Buying and Selling at Integer

In related news, Director Martin C. Maxwell sold 8,720 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was 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 owned 22,170 shares in the company, valued at $2,672,815.20. This trade represents a 28.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Donald J. Spence sold 14,739 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $120.38, for a total value of $1,774,280.82. Following the sale, the director owned 18,781 shares in the company, valued at $2,260,856.78. This trade represents a 43.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.16% of the company's stock.

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.