Channing Capital Management LLC Trims Stock Position in Integer Holdings Co. (NYSE:ITGR)

Channing Capital Management LLC trimmed its stake in Integer Holdings Co. (NYSE:ITGR) by 41.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 450,862 shares of the medical equipment provider’s stock after selling 316,619 shares during the period. Channing Capital Management LLC’s holdings in Integer were worth $44,671,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FourThought Financial Partners LLC purchased a new position in shares of Integer during the fourth quarter worth approximately $264,000. Heritage Wealth Management LLC purchased a new position in Integer during the 4th quarter worth $323,000. Truist Financial Corp increased its stake in Integer by 4.0% in the fourth quarter. Truist Financial Corp now owns 47,015 shares of the medical equipment provider’s stock valued at $4,658,000 after purchasing an additional 1,813 shares during the period. Yousif Capital Management LLC raised its holdings in shares of Integer by 2.3% in the fourth quarter. Yousif Capital Management LLC now owns 17,013 shares of the medical equipment provider’s stock valued at $1,686,000 after buying an additional 386 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Integer by 1.7% during the fourth quarter. Handelsbanken Fonder AB now owns 5,837 shares of the medical equipment provider’s stock worth $578,000 after buying an additional 100 shares during the period. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Integer Trading Up 1.2 %

Shares of NYSE ITGR traded up $1.35 during trading on Friday, hitting $111.27. 224,856 shares of the company traded hands, compared to its average volume of 511,895. The firm has a market capitalization of $3.73 billion, a P/E ratio of 38.50, a P/E/G ratio of 1.65 and a beta of 1.12. The company has a quick ratio of 2.01, a current ratio of 3.32 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $114.24 and a 200-day moving average price of $101.33. Integer Holdings Co. has a 1 year low of $69.40 and a 1 year high of $123.99.

Integer (NYSE:ITGR) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Integer had a net margin of 6.01% and a return on equity of 11.25%. The business had revenue of $414.80 million for the quarter, compared to the consensus estimate of $412.78 million. During the same quarter last year, the firm posted $0.87 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities analysts predict that Integer Holdings Co. will post 5.27 EPS for the current year.

Insiders Place Their Bets

In other Integer news, VP Tommy P. Thomas sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $114.00, for a total transaction of $171,000.00. Following the completion of the sale, the vice president now owns 2,813 shares in the company, valued at approximately $320,682. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on ITGR shares. Benchmark reaffirmed a “buy” rating and set a $130.00 price objective on shares of Integer in a research note on Friday, April 26th. CL King began coverage on Integer in a research note on Thursday, March 14th. They set a “buy” rating and a $137.00 price target for the company. KeyCorp increased their price target on Integer from $123.00 to $139.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Bank of America raised shares of Integer from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $135.00 in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $120.50.

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.