Point72 Asset Management L.P. lessened its position in Integer Holdings Corp (NYSE:ITGR) by 33.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 334,300 shares of the medical equipment provider’s stock after selling 168,700 shares during the period. Point72 Asset Management L.P. owned approximately 1.03% of Integer worth $27,730,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in Integer in the 2nd quarter valued at about $111,000. Federated Investors Inc. PA grew its position in Integer by 236.3% in the 2nd quarter. Federated Investors Inc. PA now owns 2,411 shares of the medical equipment provider’s stock valued at $156,000 after buying an additional 1,694 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in Integer in the 2nd quarter valued at about $194,000. C M Bidwell & Associates Ltd. bought a new position in Integer in the 3rd quarter valued at about $219,000. Finally, Zions Bancorporation bought a new position in Integer in the 2nd quarter valued at about $234,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Joseph F. Flanagan sold 13,633 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $86.42, for a total transaction of $1,178,163.86. Following the completion of the transaction, the executive vice president now owns 12,622 shares in the company, valued at approximately $1,090,793.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Pamela G. Bailey sold 5,767 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $83.16, for a total transaction of $479,583.72. Following the transaction, the director now owns 53,562 shares of the company’s stock, valued at approximately $4,454,215.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,569 shares of company stock valued at $2,653,687. Insiders own 3.60% of the company’s stock.
Integer (NYSE:ITGR) last posted its quarterly earnings data on Thursday, November 1st. The medical equipment provider reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.14. Integer had a net margin of 14.12% and a return on equity of 12.78%. The company had revenue of $305.10 million during the quarter, compared to analyst estimates of $301.95 million. During the same quarter last year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts expect that Integer Holdings Corp will post 3.66 earnings per share for the current year.
ITGR has been the subject of a number of recent analyst reports. TheStreet lowered shares of Integer from a “b” rating to a “c+” rating in a research report on Friday, November 2nd. KeyCorp increased their target price on shares of Integer from $81.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, November 2nd. Royal Bank of Canada increased their target price on shares of Integer to $84.00 in a research report on Friday, November 2nd. Finally, Zacks Investment Research lowered shares of Integer from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Integer currently has a consensus rating of “Buy” and a consensus target price of $82.20.
Integer Company Profile
Integer Holdings Corp. engages in manufacturing and developing medical devices and components. It operates through Medical and Non-Medical segments. The Medical segment include cardio and vascular; cardiac and neuromodulation; and advanced surgical, orthopedics, and portable medical. The Non-Medical segment focuses on lithium cells, and primary and secondary battery packs for applications in the energy, military and environmental markets.The company was founded by Wilson Greatbatch in 1970 and is headquartered in Frisco, TX.
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