Integer Holdings Corp (NYSE:ITGR) director James F. Hinrichs has sold a significant portion of his holdings in the company, according to a recent SEC filing. Hinrichs offloaded a total of 9,603 shares at prices ranging from $122.00 to $122.90, with the weighted average price per share at $122.438. The total value of the sold shares amounted to approximately $1,175,772.
The transactions took place on May 24, 2024, as reported in the filing dated May 28, 2024. In addition to the sale, Hinrichs also acquired shares through the exercise of stock options. A total of 19,955 shares were acquired at an exercise price of $44.6, with the combined transactions valued at $428,293.
Following these transactions, Hinrichs's ownership in Integer Holdings Corp has changed, now holding 7,424 shares directly after the sale. The company, which specializes in electromedical and electrotherapeutic apparatus, has seen its stock perform in accordance with market trends, and these transactions have now been made public for investors to review.
Investors often look to the trading activities of directors and executives as indicators of confidence in the company's future performance. While the reasons behind Hinrichs's decision to sell a portion of his stock are not detailed in the filing, the disclosure provides transparency for those tracking insider trading activities within Integer Holdings Corp.
The sale of shares by a director can be a routine part of personal financial management, including diversification strategies, tax planning, or other personal investment considerations. As with all insider transactions, the market will interpret the potential implications while considering the broader context of the company's performance and market conditions.
For further details on the transactions, Integer Holdings Corp and interested parties can refer to the full information provided in the SEC Form 4 filing, which includes additional footnotes and specifics regarding the executed trades.
InvestingPro Insights
As Integer Holdings Corp (NYSE:ITGR) navigates through the market, recent activities by company director James F. Hinrichs have caught the attention of investors. While insider transactions are often scrutinized for signs of corporate confidence, it's also essential to consider the broader financial context of the company. According to InvestingPro data, Integer Holdings is currently trading near its 52-week high, with a price that is 98.15% of this peak, reflecting a strong performance in the stock market.
The company's market capitalization stands at $4.07 billion, and with a price-to-earnings (P/E) ratio of 41.27, it appears to be trading at a high earnings multiple. However, looking at the adjusted P/E ratio for the last twelve months as of Q1 2024, the figure comes down to a more moderate 33.33. This suggests a potentially more attractive valuation for investors considering the company's earnings potential.
Integer Holdings has also demonstrated solid growth, with a 13.07% increase in revenue over the last twelve months leading up to Q1 2024. This growth is coupled with a substantial price uptick of 37.34% over the last six months, indicating robust market momentum. Furthermore, the company has been profitable over the last twelve months and analysts predict it will maintain profitability this year, according to additional InvestingPro Tips.
For investors seeking more comprehensive analysis and insider perspectives, there are currently 9 additional InvestingPro Tips available for Integer Holdings Corp. These can be accessed through InvestingPro, and by using the coupon code PRONEWS24, readers can enjoy an additional 10% off a yearly or biyearly Pro and Pro+ subscription. This exclusive offer provides an opportunity for a deeper dive into the company's financial health and future prospects.
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