Franklin Resources Inc. Trims Holdings in Integer Holdings Corp (ITGR)

Franklin Resources Inc. cut its stake in Integer Holdings Corp (NYSE:ITGR) by 12.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 566,204 shares of the medical equipment provider’s stock after selling 83,060 shares during the period. Franklin Resources Inc. owned approximately 1.75% of Integer worth $46,967,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Integer by 11.3% during the 2nd quarter. BlackRock Inc. now owns 4,415,682 shares of the medical equipment provider’s stock worth $285,473,000 after acquiring an additional 447,347 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of Integer by 90.5% during the 2nd quarter. GSA Capital Partners LLP now owns 32,463 shares of the medical equipment provider’s stock worth $2,099,000 after acquiring an additional 15,421 shares during the period. ClariVest Asset Management LLC lifted its holdings in shares of Integer by 62.6% during the 2nd quarter. ClariVest Asset Management LLC now owns 74,950 shares of the medical equipment provider’s stock worth $4,846,000 after acquiring an additional 28,855 shares during the period. Emerald Advisers Inc. PA lifted its holdings in shares of Integer by 17.8% during the 3rd quarter. Emerald Advisers Inc. PA now owns 287,241 shares of the medical equipment provider’s stock worth $23,827,000 after acquiring an additional 43,411 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in shares of Integer during the 2nd quarter worth about $2,657,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the stock. TheStreet downgraded shares of Integer from a “b” rating to a “c+” rating in a report on Friday, November 2nd. Royal Bank of Canada raised their price objective on shares of Integer to $84.00 in a report on Friday, November 2nd. KeyCorp raised their price objective on shares of Integer from $81.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, November 2nd. Finally, Zacks Investment Research downgraded shares of Integer from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $82.20.

NYSE:ITGR opened at $83.76 on Friday. The stock has a market cap of $2.76 billion, a PE ratio of 23.12 and a beta of 0.90. Integer Holdings Corp has a 52 week low of $42.50 and a 52 week high of $90.03. The company has a quick ratio of 1.32, a current ratio of 2.41 and a debt-to-equity ratio of 0.88.

Integer (NYSE:ITGR) last released its quarterly earnings data on Thursday, November 1st. The medical equipment provider reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The company had revenue of $305.10 million during the quarter, compared to the consensus estimate of $301.95 million. Integer had a net margin of 14.12% and a return on equity of 12.78%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. On average, equities research analysts expect that Integer Holdings Corp will post 3.66 EPS for the current year.

In related news, Director Peter H. Soderberg sold 1,761 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $81.28, for a total transaction of $143,134.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela G. Bailey sold 5,767 shares of the stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $83.16, for a total transaction of $479,583.72. Following the sale, the director now owns 53,562 shares of the company’s stock, valued at approximately $4,454,215.92. The disclosure for this sale can be found here. Insiders have sold a total of 32,330 shares of company stock valued at $2,796,821 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.

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About Integer

Integer Holdings Corp. engages in manufacturing and developing medical devices and components. It operates through Medical and Non-Medical segments. The Medical segment include cardio and vascular; cardiac and neuromodulation; and advanced surgical, orthopedics, and portable medical. The Non-Medical segment focuses on lithium cells, and primary and secondary battery packs for applications in the energy, military and environmental markets.The company was founded by Wilson Greatbatch in 1970 and is headquartered in Frisco, TX.

Further Reading: Quiet Period

Institutional Ownership by Quarter for Integer (NYSE:ITGR)

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