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

Integer Holdings Co. (NYSE:ITGR)’s share 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 were traded 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 stock in a transaction dated Thursday, May 1st. The stock was 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 directly owns 47,000 shares in the company, valued at approximately $5,788,990. This trade represents a 87.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

Several equities research analysts recently commented on ITGR shares. Oppenheimer cut 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 research note on Friday, April 25th. Truist Financial set a $150.00 target price on shares of Integer and gave the stock a “buy” rating in a research note on Friday, April 25th. KeyCorp decreased their price target on shares of Integer from $154.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Finally, Benchmark reduced their target price on Integer from $150.00 to $140.00 and set a “buy” rating for the company in a research note 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 an average rating of “Moderate Buy” and an average price target of $145.56.

Integer Price Performance

The stock has a market capitalization of $4.12 billion, a P/E ratio of 35.18, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03. The business has a fifty day simple moving average of $118.53 and a 200 day simple moving average of $129.91. The company has a current ratio of 2.95, a quick ratio of 2.09 and a debt-to-equity ratio of 0.62.

Integer (NYSE:ITGR) last released its quarterly 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 business had revenue of $437.39 million during the quarter, compared to analyst estimates of $428.51 million. Integer had a return on equity of 11.65% and a net margin of 6.92%. Integer’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. On average, analysts expect that Integer Holdings Co. will post 6.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ITGR. Versant Capital Management Inc boosted its stake in shares of Integer by 98.4% in the 4th quarter. Versant Capital Management Inc now owns 369 shares of the medical equipment provider’s stock worth $49,000 after buying an additional 183 shares during the last quarter. GAMMA Investing LLC boosted its position in Integer by 36.0% in the fourth quarter. GAMMA Investing LLC now owns 888 shares of the medical equipment provider’s stock worth $118,000 after purchasing an additional 235 shares during the last quarter. Park Avenue Securities LLC grew its stake in Integer by 26.0% in the 4th quarter. Park Avenue Securities LLC now owns 4,710 shares of the medical equipment provider’s stock valued at $624,000 after purchasing an additional 972 shares during the period. Contravisory Investment Management Inc. raised its stake in shares of Integer by 210.8% during the 4th quarter. Contravisory Investment Management Inc. now owns 693 shares of the medical equipment provider’s stock worth $92,000 after purchasing an additional 470 shares during the period. Finally, Heritage Family Offices LLP boosted its holdings in shares of Integer by 6.9% in the 4th quarter. Heritage Family Offices LLP now owns 3,033 shares of the medical equipment provider’s stock worth $402,000 after buying an additional 197 shares during the last quarter. 99.29% of the stock is owned by 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.