Integer Holdings Corp (NYSE:ITGR) executive John A. Harris, who serves as the EVP of Global Operations and Manufacturing, has recently sold a portion of his company stock. The transaction, which took place on May 7, 2024, involved the sale of 312 shares at a price of $113.0 per share, resulting in a total value of $35,256.
The sale was disclosed in a regulatory filing with the Securities and Exchange Commission (SEC). Following the transaction, Harris still owns a total of 1,157 shares of Integer Holdings Corp, indicating his continued investment in the company despite the recent sale.
Integer Holdings Corp, known for its work in the electromedical and electrotherapeutic apparatus sector, is watched closely by investors for any significant insider trading activity. Transactions by high-level executives can provide insights into their perspective on the company's current valuation and future prospects.
Investors and market watchers often pay attention to such sales as they may reflect the executive's confidence in the company's future performance. However, it is also common for executives to sell shares for personal financial planning, diversification, or other non-company related reasons.
The reported sale by EVP Harris is a routine disclosure, and it is not uncommon for executives to engage in such transactions. The details of the sale are publicly available for investors to review as part of the company's transparent financial practices.
InvestingPro Insights
As Integer Holdings Corp (NYSE:ITGR) navigates the electromedical and electrotherapeutic apparatus sector, its financial metrics and insider trading activities are closely scrutinized by investors. The recent sale of shares by EVP John A. Harris has brought attention to the company's stock performance and valuation.
InvestingPro data reveals that Integer Holdings Corp has a market capitalization of $3.82 billion, with a P/E ratio that stands at 38.7. When adjusted for the last twelve months as of Q1 2024, the P/E ratio comes to a more moderate 31.26. This suggests that while the stock may be trading at a high earnings multiple, its near-term earnings growth could make it an attractive proposition, as indicated by a PEG ratio of 0.94, which implies a fair balance between the company's price and expected earnings growth.
The company's revenue growth has been robust, with a 13.07% increase over the last twelve months as of Q1 2024. This is complemented by a solid gross profit margin of 26.6%. Additionally, the company's stock has experienced a significant uptick, posting a 33.11% total return over the past six months.
InvestingPro Tips highlight that while some analysts have revised their earnings expectations downwards for the upcoming period, the company is trading at a low P/E ratio relative to near-term earnings growth. Moreover, Integer Holdings is profitable over the last twelve months, and analysts predict it will remain profitable this year. It's also noteworthy that the company's liquid assets exceed short-term obligations, yet it does not pay a dividend to shareholders.
For investors seeking further insights, there are additional InvestingPro Tips available for ITGR, which can be accessed via https://www.investing.com/pro/ITGR. By using the coupon code PRONEWS24, users can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable financial information and analysis.
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