Martingale Asset Management L P trimmed its position in shares of Integer Holdings Corp (NYSE:ITGR) by 9.6% during the third quarter, HoldingsChannel reports. The firm owned 110,330 shares of the medical equipment provider’s stock after selling 11,705 shares during the quarter. Martingale Asset Management L P’s holdings in Integer were worth $9,152,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ITGR. Point72 Hong Kong Ltd purchased a new stake in shares of Integer in the second quarter valued at $111,000. Federated Investors Inc. PA lifted its position in shares of Integer by 236.3% in the second quarter. Federated Investors Inc. PA now owns 2,411 shares of the medical equipment provider’s stock valued at $156,000 after acquiring an additional 1,694 shares in the last quarter. BlueMountain Capital Management LLC purchased a new stake in shares of Integer in the second quarter valued at $194,000. South State Corp purchased a new stake in shares of Integer in the second quarter valued at $200,000. Finally, Zions Bancorporation purchased a new stake in shares of Integer in the second quarter valued at $234,000. Institutional investors own 94.00% of the company’s stock.
Several brokerages have recently issued reports on ITGR. Royal Bank of Canada restated a “hold” rating and issued a $72.00 price objective on shares of Integer in a research report on Friday, August 3rd. TheStreet downgraded Integer from a “b” rating to a “c+” rating in a research report on Friday, November 2nd. Zacks Investment Research lowered Integer from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Finally, KeyCorp upped their target price on Integer from $81.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Integer currently has an average rating of “Buy” and a consensus price target of $82.20.
Integer (NYSE:ITGR) last released its earnings results on Thursday, November 1st. The medical equipment provider reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.14. The firm had revenue of $305.10 million during the quarter, compared to analyst estimates of $301.95 million. Integer had a return on equity of 12.78% and a net margin of 14.12%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 earnings per share. Research analysts predict that Integer Holdings Corp will post 3.66 EPS for the current year.
In other Integer news, Director Bill R. Sanford sold 11,169 shares of the company’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $89.17, for a total transaction of $995,939.73. Following the completion of the sale, the director now directly owns 77,021 shares in the company, valued at $6,867,962.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bill R. Sanford sold 8,650 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $80.10, for a total value of $692,865.00. Following the sale, the director now owns 74,502 shares of the company’s stock, valued at $5,967,610.20. The disclosure for this sale can be found here. Insiders sold 60,175 shares of company stock valued at $4,967,523 over the last quarter. Insiders own 3.60% of the company’s stock.
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Integer Company Profile
Integer Holdings Corporation operates as a medical device outsource manufacturer worldwide. It operates through two segments, Medical and Non-Medical. The company offers arthroscopic devices and components, such as shaver blades and burrs, ablation probes, and suture anchors; laparoscopic and general surgery products, including trocars, endoscopes and laparoscopes, closure devices, harmonic scalpels, bipolar energy delivery devices, radio frequency probes, thermal tumor ablation devices, and ophthalmic surgery devices; and biopsy and drug delivery products.
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