Kirk Thor Sells 11,767 Shares of Integer (NYSE:ITGR) Stock

Key Points

• Integer insider Kirk Thor sold 11,767 shares for approximately $1.49 million at an average price of $126.23, reducing his holdings by 62.19% to 7,153 shares.
• Integer’s stock traded near its 52-week high at $126.22, while its latest quarterly results exceeded expectations with $1.60 in EPS and $464.11 million in revenue.
• Analysts maintain a largely cautious view: 13 rate the stock Hold and one rates it Buy, producing an average target price of $109.86; institutional investors own 99.29% of the shares.

Integer Holdings Corporation (NYSE:ITGR - Get Free Report) insider Kirk Thor sold 11,767 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider owned 7,153 shares in the company, valued at approximately $902,923.19. This trade represents a 62.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Integer Stock Performance

ITGR stock traded up $0.01 during mid-day trading on Wednesday, hitting $126.22. 1,124,095 shares of the company were exchanged, compared to its average volume of 707,592. Integer Holdings Corporation has a 1-year low of $62.00 and a 1-year high of $126.79. The stock has a market capitalization of $4.29 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 2.40 and a beta of 0.62. The business has a 50 day simple moving average of $116.25 and a 200-day simple moving average of $98.19. The company has a current ratio of 3.73, a quick ratio of 2.41 and a debt-to-equity ratio of 0.75.

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

Institutional Investors Weigh In On Integer

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Integer by 6.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,484,396 shares of the medical equipment provider's stock valued at $130,620,000 after buying an additional 90,277 shares in the last quarter. Irenic Capital Management LP bought a new position in Integer in the fourth quarter valued at approximately $99,109,000. Geode Capital Management LLC raised its position in Integer by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 832,911 shares of the medical equipment provider's stock valued at $65,336,000 after purchasing an additional 3,664 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Integer by 1,141.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 819,046 shares of the medical equipment provider's stock worth $72,076,000 after purchasing an additional 753,081 shares during the last quarter. Finally, Cooke & Bieler LP boosted its holdings in shares of Integer by 59.5% in the 4th quarter. Cooke & Bieler LP now owns 613,134 shares of the medical equipment provider's stock valued at $48,088,000 after purchasing an additional 228,645 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on ITGR shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Integer in a research note on Thursday, June 18th. Freedom Capital lowered shares of Integer from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Citigroup raised their target price on shares of Integer from $92.00 to $96.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Piper Sandler cut Integer from an "overweight" rating to a "hold" rating and set a $127.00 price target for the company. in a research note on Monday, August 3rd. Finally, Wells Fargo & Company increased their price target on Integer from $84.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $109.86.

Integer Company Profile

Integer Holdings Corporation, doing business as Integer, is a medical device contract development and manufacturing company. The company partners with medical technology companies to design, develop and manufacture components and finished products used in a range of healthcare applications.

Integer's medical products include batteries and power sources, implantable components, electrodes, leads, catheters and other products used in cardiovascular, neuromodulation, vascular, orthopedic, diabetes and minimally invasive medical devices.

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