Zacks Investment Research downgraded shares of Integer Holdings Co. (NASDAQ:ITGR) from a hold rating to a sell rating in a research report released on Monday.

According to Zacks, “Integer Holdings derives a significant portion of its revenues from Medicare’s service reimbursement programs. The company expects rental revenue per patient to decline in the future quarters owing to lower reimbursement rates in connection with the nationalization of competitive bidding and continued reimbursement declines. Integer Holdings reported a tepid second-quarter of 2017 missing the Zacks Consensus Estimate on both counts. Over the last one year the company outperformed the broader industry in terms of price performance. Integer Holdings has provided a positive guidance for full-year 2017. The company’s steadfast focus on customer relationship, spotlight on cost reduction, and burgeoning financial performance are the key catalysts in our view. However, revenue headwinds remain a concern, thanks to private insurance rate reductions, higher provisions for rental revenue adjustments, and lower net patient additions.”

Integer Holdings (NASDAQ:ITGR) opened at 45.95 on Monday. Integer Holdings has a 52-week low of $18.10 and a 52-week high of $47.09. The company has a 50-day moving average of $45.04 and a 200 day moving average of $40.83. The company has a market cap of $1.45 billion, a PE ratio of 78.95 and a beta of 1.30.

Integer Holdings (NASDAQ:ITGR) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.11. The company had revenue of $363 million for the quarter, compared to analyst estimates of $353.68 million. Integer Holdings’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. Equities research analysts predict that Integer Holdings will post $2.76 EPS for the current year.

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In other news, insider Jennifer M. Bolt sold 3,626 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $41.04, for a total transaction of $148,811.04. Following the completion of the transaction, the insider now owns 14,834 shares of the company’s stock, valued at $608,787.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC increased its position in Integer Holdings by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 55,536 shares of the medical equipment provider’s stock valued at $1,636,000 after buying an additional 2,023 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Integer Holdings by 21.9% in the first quarter. Capstone Asset Management Co. now owns 13,588 shares of the medical equipment provider’s stock valued at $546,000 after buying an additional 2,438 shares during the period. Louisiana State Employees Retirement System boosted its stake in Integer Holdings by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the medical equipment provider’s stock valued at $450,000 after buying an additional 200 shares during the period. State of Alaska Department of Revenue boosted its stake in Integer Holdings by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 3,040 shares of the medical equipment provider’s stock valued at $122,000 after buying an additional 70 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in Integer Holdings by 7.8% in the first quarter. Nationwide Fund Advisors now owns 24,089 shares of the medical equipment provider’s stock valued at $968,000 after buying an additional 1,734 shares during the period.

About Integer Holdings

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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