Integer (NYSE:ITGR) Shares Down 7.3% After Insider Selling

Integer Holdings Co. (NYSE:ITGR - Get Free Report)'s stock price dropped 7.3% during mid-day trading on Monday following insider selling activity. The company traded as low as $118.22 and last traded at $116.55. 623,033 shares changed hands during trading, an increase of 75% from the average session volume of 355,275 shares. The stock had previously closed at $125.66.

Specifically, CEO Joseph W. Dziedzic sold 338,975 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $123.17, for a total value of $41,751,550.75. Following the completion of the sale, the chief executive officer now owns 47,000 shares of the company's stock, valued at approximately $5,788,990. The trade was a 87.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ITGR shares. Oppenheimer lowered Integer from an "outperform" rating to a "market perform" rating in a research note on Friday, February 21st. StockNews.com lowered shares of Integer from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Raymond James raised their price target on shares of Integer from $145.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Benchmark lowered their price objective on shares of Integer from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, KeyCorp cut their target price on Integer from $154.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Integer has a consensus rating of "Moderate Buy" and an average price target of $145.56.

Integer Trading Down 0.9 %

The stock's 50 day moving average is $118.43 and its 200-day moving average is $129.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.95 and a quick ratio of 2.09. The company has a market capitalization of $4.13 billion, a P/E ratio of 35.24, a P/E/G ratio of 1.72 and a beta of 1.03.

Integer (NYSE:ITGR - Get Free Report) last released its earnings results on Thursday, April 24th. The medical equipment provider reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.04. The company had revenue of $437.39 million during the quarter, compared to analysts' expectations of $428.51 million. Integer had a return on equity of 11.65% and a net margin of 6.92%. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS. As a group, equities research analysts anticipate that Integer Holdings Co. will post 6.01 earnings per share for the current year.

Institutional Trading of Integer

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Integer by 4.4% during the fourth quarter. Blue Trust Inc. now owns 1,689 shares of the medical equipment provider's stock worth $220,000 after acquiring an additional 71 shares in the last quarter. TD Private Client Wealth LLC boosted its position in shares of Integer by 5.8% in the 1st quarter. TD Private Client Wealth LLC now owns 1,524 shares of the medical equipment provider's stock worth $180,000 after purchasing an additional 83 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Integer by 0.9% in the 4th quarter. Arizona State Retirement System now owns 9,732 shares of the medical equipment provider's stock worth $1,290,000 after buying an additional 84 shares during the last quarter. HighPoint Advisor Group LLC increased its position in Integer by 6.4% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,684 shares of the medical equipment provider's stock valued at $234,000 after buying an additional 101 shares in the last quarter. Finally, Norden Group LLC raised its stake in Integer by 7.0% during the fourth quarter. Norden Group LLC now owns 1,668 shares of the medical equipment provider's stock valued at $221,000 after buying an additional 109 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

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.