Integer Holdings Corp (NYSE:ITGR) has reported a significant stock transaction by one of its top executives. Payman Khales, who serves as the President of C&V for the company, sold a total of 8,712 shares of common stock on May 10, 2024. The transaction is valued at approximately $991,739, with the stock being sold at a price of $113.836 per share.
The sale was disclosed in a regulatory filing with the Securities and Exchange Commission. Following the transaction, Khales still owns 10,431 shares of Integer Holdings Corp, indicating a strong remaining stake in the company. This move by a key executive is often watched closely by investors as it can provide insights into leadership's perspective on the company's current valuation and future prospects.
Integer Holdings Corp, known for its manufacturing of electromedical and electrotherapeutic apparatus, has its business operations under the name 08 Industrial Applications and Services. The company, with a history of name changes, was formerly known as Greatbatch, Inc. and Wilson Greatbatch Technologies Inc., and is incorporated in Delaware with a fiscal year ending December 31.
The sale by Khales represents a notable change in his holdings and could be of interest to investors tracking insider transactions. However, the reasons behind such sales can vary widely and do not necessarily reflect a negative outlook on the company's future performance.
Investors and analysts often look at insider selling and buying as one of many indicators to help them make informed decisions about their investments in the company. It's important to consider these transactions in the context of broader market trends, the company's performance, and other factors that can influence stock prices.
Integer Holdings Corp's shares are publicly traded on the New York Stock Exchange, and the company continues to be a key player in the medical device and electrotherapeutic industry.
InvestingPro Insights
Integer Holdings Corp (NYSE:ITGR) has been a topic of interest for analysts and investors alike, especially following the recent stock transaction by a top executive. To provide a more comprehensive picture, let's delve into some key metrics and insights from InvestingPro.
As of the last twelve months leading up to Q1 2024, Integer Holdings Corp boasts a market capitalization of $3.75 billion. The company's P/E ratio stands at 38.1, which adjusts to 30.84 when considering near-term earnings growth, suggesting that the stock might be trading at a low P/E ratio relative to its near-term earnings growth potential. This aligns with one of the InvestingPro Tips highlighting the company's attractive valuation in this regard.
The revenue growth for the same period shows a healthy increase of 13.07%, with a gross profit margin of 26.6%. These figures are testament to Integer's solid financial performance and efficiency in generating profits from its revenues. Another positive indicator is the company's liquidity position, with liquid assets exceeding short-term obligations, providing financial stability and the ability to meet immediate financial responsibilities.
From a stock performance perspective, Integer Holdings Corp has experienced a significant price uptick of 26.77% over the past six months, and a 43.74% return over the past year, reflecting strong market confidence. Moreover, the stock is currently trading at 90.2% of its 52-week high, which could indicate potential room for growth.
Investors considering this stock should note that Integer does not pay a dividend to shareholders, which may influence investment decisions depending on individual strategies. For those seeking additional insights, there are more InvestingPro Tips available, which could further inform investment choices. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription for access to these valuable tips.
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