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

Integer Holdings Co. (NYSE:ITGR)’s stock price fell 7.3% on Monday after an insider sold shares in the company. The stock 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 Integer stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $123.17, for a total transaction 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. KeyCorp reduced their price objective on Integer from $154.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 21st. StockNews.com downgraded Integer from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Truist Financial set a $150.00 price objective on Integer and gave the stock a “buy” rating in a research report on Friday, April 25th. Raymond James boosted their target price on shares of Integer from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Finally, Benchmark lowered their price target on shares of Integer from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.56.

Integer Trading Up 1.4 %

The business’s 50 day simple moving average is $118.53 and its two-hundred day simple moving average is $129.91. The stock has a market cap of $4.12 billion, a P/E ratio of 35.18, a PEG 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) last posted its earnings results on Thursday, April 24th. The medical equipment provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.27 by $0.04. The firm had revenue of $437.39 million during the quarter, compared to the consensus estimate of $428.51 million. Integer had a return on equity of 11.65% and a net margin of 6.92%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. As a group, analysts expect that Integer Holdings Co. will post 6.01 EPS for the current year.

Hedge Funds Weigh In On Integer

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

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.