The Manufacturers Life Insurance Company Decreases Stake in Integer Holdings Co. (NYSE:ITGR)

The Manufacturers Life Insurance Company cut its stake in Integer Holdings Co. (NYSE:ITGR - Free Report) by 19.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 152,468 shares of the medical equipment provider's stock after selling 37,451 shares during the period. The Manufacturers Life Insurance Company owned about 0.45% of Integer worth $20,205,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ITGR. Mather Group LLC. lifted its stake in shares of Integer by 304.3% in the 4th quarter. Mather Group LLC. now owns 190 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 143 shares during the last quarter. Lee Danner & Bass Inc. bought a new position in Integer in the fourth quarter worth $27,000. R Squared Ltd purchased a new position in Integer during the 4th quarter valued at about $44,000. Sterling Capital Management LLC boosted its position in shares of Integer by 472.9% in 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 in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Integer by 98.4% in the fourth quarter. Versant Capital Management Inc now owns 369 shares of the medical equipment provider's stock worth $49,000 after acquiring an additional 183 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ITGR has been the subject of several research analyst reports. Raymond James lifted their price objective on Integer from $145.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. StockNews.com lowered Integer from a "hold" rating to a "sell" rating in a report on Friday, April 25th. KeyCorp decreased their price objective on shares of Integer from $154.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Oppenheimer downgraded Integer from an "outperform" rating to a "market perform" rating in a research note on Friday, February 21st. Finally, Benchmark reduced their target price on Integer from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $145.56.

Integer Price Performance

Shares of ITGR stock traded up $1.65 during trading hours on Tuesday, hitting $118.20. 1,069,826 shares of the company's stock were exchanged, compared to its average volume of 358,970. The firm has a 50 day moving average of $118.64 and a two-hundred day moving average of $129.99. Integer Holdings Co. has a fifty-two week low of $104.93 and a fifty-two week high of $146.36. The firm has a market cap of $4.12 billion, a P/E ratio of 35.18, a P/E/G ratio of 1.72 and a beta of 1.03. The company has a quick ratio of 2.09, a current ratio of 2.95 and a debt-to-equity ratio of 0.62.

Integer (NYSE:ITGR - Get Free Report) last issued its earnings results on Thursday, April 24th. The medical equipment provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.04. Integer had a return on equity of 11.65% and a net margin of 6.92%. The business had revenue of $437.39 million during the quarter, compared to the consensus estimate of $428.51 million. During the same period last year, the company earned $1.14 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts forecast that Integer Holdings Co. will post 6.01 EPS for the current year.

Insider Activity at Integer

In other news, CEO Joseph W. Dziedzic sold 338,975 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were 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 directly owns 47,000 shares of the company's stock, valued at approximately $5,788,990. This represents a 87.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.16% of the stock is currently owned by corporate insiders.

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.