Convergence Investment Partners LLC Invests $1.61 Million in Integer Holdings Co. (ITGR)

Convergence Investment Partners LLC acquired a new stake in shares of Integer Holdings Co. (NYSE:ITGR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,445 shares of the medical equipment provider’s stock, valued at approximately $1,608,000. Convergence Investment Partners LLC owned about 0.10% of Integer as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of ITGR. Meeder Asset Management Inc. increased its position in Integer by 411.1% during the third quarter. Meeder Asset Management Inc. now owns 2,034 shares of the medical equipment provider’s stock valued at $104,000 after acquiring an additional 1,636 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Integer by 126.2% in the first quarter. Public Employees Retirement System of Ohio now owns 4,834 shares of the medical equipment provider’s stock worth $194,000 after buying an additional 2,697 shares in the last quarter. Amalgamated Bank purchased a new stake in Integer in the third quarter worth about $212,000. Bessemer Group Inc. purchased a new stake in Integer in the third quarter worth about $220,000. Finally, FMR LLC purchased a new stake in Integer in the first quarter worth about $226,000. Institutional investors own 95.07% of the company’s stock.

In other Integer news, insider Jennifer M. Bolt sold 7,626 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $48.22, for a total transaction of $367,725.72. Following the sale, the insider now directly owns 12,735 shares in the company, valued at $614,081.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Timothy G. Mcevoy sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $49.35, for a total value of $172,725.00. Following the sale, the vice president now owns 32,401 shares in the company, valued at $1,598,989.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,835 shares of company stock valued at $2,557,378. 4.80% of the stock is owned by corporate insiders.

Integer Holdings Co. (NYSE ITGR) traded up $0.05 during midday trading on Wednesday, hitting $46.40. The stock had a trading volume of 153,300 shares, compared to its average volume of 187,088. The company has a market capitalization of $1,467.90, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.18 and a beta of 1.07. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.37 and a current ratio of 2.58. Integer Holdings Co. has a 1 year low of $28.60 and a 1 year high of $55.20.

Integer (NYSE:ITGR) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. Integer had a return on equity of 11.22% and a net margin of 1.42%. The company had revenue of $363.31 million during the quarter, compared to analyst estimates of $354.83 million. During the same period in the prior year, the company earned $0.83 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. sell-side analysts forecast that Integer Holdings Co. will post 2.62 earnings per share for the current fiscal year.

A number of brokerages have commented on ITGR. TheStreet cut Integer from a “b-” rating to a “c+” rating in a research report on Thursday, November 9th. BidaskClub cut Integer from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of Integer in a research note on Friday, October 27th. Northcoast Research lowered Integer from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $62.00 price objective (up previously from $51.00) on shares of Integer in a research note on Monday, September 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $51.00.

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Integer Company Profile

Greatbatch, Inc is a developer and manufacturer of medical devices and components. The Company operates through two segments: Greatbatch Medical and QiG Group (QiG). Greatbatch Medical designs and manufactures products where the Company either owns the intellectual property or has unique manufacturing and assembly expertise.

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Institutional Ownership by Quarter for Integer (NYSE:ITGR)

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