Bessemer Group Inc. Boosts Stake in Integer Holdings Corporation (NYSE:ITGR)

Bessemer Group Inc. increased its position in Integer Holdings Corporation (NYSE:ITGR) by 73.1% in the 1st quarter, Holdings Channel reports. The firm owned 296 shares of the medical equipment provider’s stock after buying an additional 125 shares during the period. Bessemer Group Inc.’s holdings in Integer were worth $35,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lee Danner & Bass Inc. purchased a new stake in Integer during the 4th quarter valued at approximately $27,000. AdvisorNet Financial Inc purchased a new stake in Integer during the 1st quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in Integer during the 1st quarter valued at approximately $28,000. Sterling Capital Management LLC raised its stake in Integer by 472.9% during the 4th quarter. Sterling Capital Management LLC now owns 338 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 279 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Integer by 259.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 737 shares of the medical equipment provider’s stock valued at $98,000 after acquiring an additional 532 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on ITGR shares. Benchmark reduced their price objective on Integer from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Citigroup raised Integer from a “hold” rating to a “strong-buy” rating and upped their price objective for the company from $133.00 to $140.00 in a research note on Thursday, May 22nd. Truist Financial set a $150.00 price objective on Integer and gave the company a “buy” rating in a research note on Friday, April 25th. Wall Street Zen raised Integer from a “sell” rating to a “hold” rating in a research note on Monday, May 19th. Finally, KeyCorp reduced their price objective on Integer from $154.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

Integer Stock Performance

ITGR opened at $121.00 on Friday. The stock has a market cap of $4.22 billion, a P/E ratio of 57.35, a P/E/G ratio of 1.04 and a beta of 0.98. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.40 and a quick ratio of 2.14. The stock’s 50 day simple moving average is $120.46 and its 200 day simple moving average is $125.55. Integer Holdings Corporation has a 1-year low of $104.93 and a 1-year high of $146.36.

Integer (NYSE:ITGR) last released its quarterly earnings results on Thursday, April 24th. The medical equipment provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.04. The business had revenue of $437.39 million for the quarter, compared to analysts’ expectations of $428.51 million. Integer had a return on equity of 11.95% and a net margin of 4.38%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. As a group, equities analysts anticipate that Integer Holdings Corporation will post 6.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Donald J. Spence sold 14,739 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $120.38, for a total value of $1,774,280.82. Following the sale, the director owned 18,781 shares in the company, valued at $2,260,856.78. This represents a 43.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joseph W. Dziedzic sold 338,975 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was 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 owned 47,000 shares in the company, valued at approximately $5,788,990. This represents a 87.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 362,434 shares of company stock worth $44,577,115 in the last quarter. Company insiders own 2.16% of the company’s stock.

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.