Integer (NYSE:ITGR) Trading Down 7.3% on Insider Selling

Integer Holdings Co. (NYSE:ITGR) dropped 7.3% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $118.22 and last traded at $116.55. Approximately 623,033 shares traded hands during mid-day trading, an increase of 75% from the average daily 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 shares were sold at an average price of $123.17, for a total value of $41,751,550.75. Following the sale, the chief executive officer now directly owns 47,000 shares in the company, valued at approximately $5,788,990. The trade was a 87.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Oppenheimer cut shares of Integer from an “outperform” rating to a “market perform” rating in a research report on Friday, February 21st. Benchmark decreased their price target on Integer from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Truist Financial set a $150.00 price target on Integer and gave the stock a “buy” rating in a research report on Friday, April 25th. StockNews.com downgraded Integer from a “hold” rating to a “sell” rating in a report on Friday, April 25th. Finally, Raymond James lifted their target price on Integer from $145.00 to $150.00 and gave the company an “outperform” rating in a research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $145.56.

Integer Price Performance

The stock’s 50 day moving average is $118.64 and its two-hundred day moving average is $129.99. The stock has a market capitalization of $4.06 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.95 and a quick ratio of 2.09.

Integer (NYSE:ITGR) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $428.51 million. Integer had a net margin of 6.92% and a return on equity of 11.65%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 EPS. As a group, sell-side analysts forecast that Integer Holdings Co. will post 6.01 earnings per share for the current fiscal year.

Institutional Trading of Integer

A number of institutional investors have recently bought and sold shares of ITGR. Cooke & Bieler LP raised its position in shares of Integer by 6.3% during the 1st quarter. Cooke & Bieler LP now owns 317,393 shares of the medical equipment provider’s stock worth $37,456,000 after acquiring an additional 18,790 shares in the last quarter. Edgestream Partners L.P. raised its holdings in Integer by 208.4% during the first quarter. Edgestream Partners L.P. now owns 36,729 shares of the medical equipment provider’s stock worth $4,334,000 after purchasing an additional 24,819 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Integer during the 1st quarter worth approximately $272,000. New York State Common Retirement Fund boosted its holdings in shares of Integer by 7.4% in the 1st quarter. New York State Common Retirement Fund now owns 249,847 shares of the medical equipment provider’s stock valued at $29,484,000 after buying an additional 17,278 shares in the last quarter. Finally, Laurus Global Equity Management Inc. grew its position in shares of Integer by 16.8% in the 1st quarter. Laurus Global Equity Management Inc. now owns 47,770 shares of the medical equipment provider’s stock valued at $5,637,000 after buying an additional 6,855 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Integer Company Profile

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.