Clark Capital Management Group Inc. cut its stake in shares of Integer Holdings Co. (NYSE:ITGR – Get Rating) by 25.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 26,589 shares of the medical equipment provider's stock after selling 9,059 shares during the period. Clark Capital Management Group Inc. owned approximately 0.08% of Integer worth $2,142,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Covestor Ltd raised its position in shares of Integer by 420.6% in the 1st quarter. Covestor Ltd now owns 328 shares of the medical equipment provider's stock valued at $26,000 after purchasing an additional 265 shares in the last quarter. UMB Bank N A MO acquired a new position in shares of Integer in the 4th quarter valued at approximately $34,000. Baltimore Washington Financial Advisors Inc. acquired a new position in shares of Integer in the 4th quarter valued at approximately $51,000. US Asset Management LLC acquired a new position in shares of Integer in the 1st quarter valued at approximately $59,000. Finally, Clearstead Advisors LLC acquired a new position in shares of Integer in the 1st quarter valued at approximately $93,000. 99.26% of the stock is owned by institutional investors and hedge funds.
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Insider Buying and Selling
In related news, insider Carter Houghton sold 2,708 shares of the company's stock in a transaction on Friday, August 12th. The stock was sold at an average price of $74.13, for a total transaction of $200,744.04. Following the completion of the transaction, the insider now directly owns 3,262 shares in the company, valued at approximately $241,812.06. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.01% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Separately, KeyCorp cut their target price on Integer from $109.00 to $97.00 and set an "overweight" rating on the stock in a research report on Friday, July 29th.
Integer Stock Performance
ITGR stock opened at $65.06 on Monday. The company has a current ratio of 2.70, a quick ratio of 1.71 and a debt-to-equity ratio of 0.68. The firm has a market cap of $2.15 billion, a P/E ratio of 27.92 and a beta of 1.23. Integer Holdings Co. has a 12-month low of $59.18 and a 12-month high of $96.35. The stock's 50 day simple moving average is $68.48 and its 200 day simple moving average is $74.26.
Integer (NYSE:ITGR – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.14). The firm had revenue of $350.10 million for the quarter, compared to analyst estimates of $343.57 million. Integer had a net margin of 6.10% and a return on equity of 9.50%. The business's revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.07 earnings per share. As a group, equities research analysts predict that Integer Holdings Co. will post 4.32 EPS for the current year.
Integer Profile
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Integer Holdings Corporation operates as a medical device outsource manufacturer in the United States, Puerto Rico, Costa Rica, and internationally. It operates through Medical and Non-Medical segments. The company offers products for interventional cardiology, structural heart, heart failure, peripheral vascular, neurovascular, interventional oncology, electrophysiology, vascular access, infusion therapy, hemodialysis, urology, and gastroenterology procedures.
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