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ITGR Integer

eger Holdings Corporation is one of the largest medical device outsource (MDO) manufacturers in the world serving the cardiac, neuromodulation, vascular, portable medical, advanced surgical and orthopedics markets. The company provides innovative, high-quality medical technologies that enhance the lives of patients worldwide. In addition, it develops batteries for high-end niche applications in energy, military, and environmental markets. Greatbatch Medical®, Lake Region Medical™ and Electrochem® comprise the company's brands.

Company profile

Ticker
ITGR
Exchange
Website
CEO
Joseph Dziedzic
Employees
Incorporated
Location
Fiscal year end
Former names
GREATBATCH, INC., WILSON GREATBATCH TECHNOLOGIES INC
SEC CIK
Subsidiaries
Accellent LLC • Brivant Limited • Centro de Construcción de Cardioestimuladores del Uruguay SA • Electrochem Solutions, Inc. • Integer EBDO SA • Greatbatch LLC • Greatbatch Ltd. • Greatbatch Medical, S. de R.L. de C.V. • Greatbatch Medical SA • Greatbatch Netherlands B.V. ...
IRS number
161531026

ITGR stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

28 Oct 21
24 Jan 22
31 Dec 22
Quarter (USD)
Oct 21 Jul 21 Apr 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Integer earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 25.47M 25.47M 25.47M 25.47M 25.47M 25.47M
Cash burn (monthly) 1.7M 6.21M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 6.45M 23.51M n/a n/a n/a n/a
Cash remaining 19.02M 1.96M n/a n/a n/a n/a
Runway (months of cash) 11.2 0.3 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
31 Dec 21 Anthony W Borowicz Common Stock Payment of exercise Dispose F No No 85.59 252 21.57K 21,739
31 Dec 21 Anthony W Borowicz Common Stock Option exercise Acquire M No No 0 358 0 21,991
31 Dec 21 Anthony W Borowicz Common Stock Option exercise Acquire M No No 0 300 0 21,633
31 Dec 21 Anthony W Borowicz RSU Common Option exercise Dispose M No No 0 358 0 358
31 Dec 21 Anthony W Borowicz RSU Common Option exercise Dispose M No No 0 300 0 0
31 Dec 21 Jason K Garland Common Stock Payment of exercise Dispose F No No 85.59 533 45.62K 9,582
31 Dec 21 Jason K Garland Common Stock Option exercise Acquire M No No 0 1,205 0 10,115
31 Dec 21 Jason K Garland Common Stock Option exercise Acquire M No No 0 978 0 8,910
31 Dec 21 Jason K Garland RSU Common Option exercise Dispose M No No 0 1,205 0 1,205
31 Dec 21 Jason K Garland RSU Common Option exercise Dispose M No No 0 978 0 0

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

97.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 235 223 +5.4%
Opened positions 29 21 +38.1%
Closed positions 17 15 +13.3%
Increased positions 85 84 +1.2%
Reduced positions 80 83 -3.6%
13F shares
Current Prev Q Change
Total value 2.89B 3.05B -5.4%
Total shares 32.31M 32.43M -0.4%
Total puts 8.3K 5.6K +48.2%
Total calls 24.8K 34.3K -27.7%
Total put/call ratio 0.3 0.2 +105.0%
Largest owners
Shares Value Change
BLK Blackrock 5.65M $504.73M +3.3%
Vanguard 3.53M $315.66M +0.0%
Dimensional Fund Advisors 1.93M $172.82M +0.1%
BEN Franklin Resources 1.71M $152.43M -4.1%
STT State Street 1.2M $107.3M -0.3%
MCQEF Macquarie 1.04M $92.51M +1.0%
SAMG Silvercrest Asset Management 869.79K $77.71M +0.1%
Fuller & Thaler Asset Management 810.16K $72.38M +17.5%
FMR 801.18K $71.58M -19.3%
SLFPY Standard Life Aberdeen 716.72K $65.25M -7.2%
Largest transactions
Shares Bought/sold Change
Investment Counselors Of Maryland 0 -224.79K EXIT
Hawk Ridge Capital Management 415.89K -193.21K -31.7%
FMR 801.18K -191.11K -19.3%
BLK Blackrock 5.65M +178.9K +3.3%
WFC Wells Fargo & Co. 405.11K -175.4K -30.2%
Fuller & Thaler Asset Management 810.16K +120.45K +17.5%
Tributary Capital Management 125.89K +120.41K +2199.3%
Channing Capital Management 561.25K +100.16K +21.7%
GS Goldman Sachs 122.13K -90.52K -42.6%
Millennium Management 103.31K +90.26K +691.6%

Financial report summary

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Risks
  • Our operations have been and may continue to be adversely impacted by the ongoing global impact of the COVID-19 pandemic.
  • We depend heavily on a limited number of customers, and if we lose any of them or they reduce their business with us, we would lose a substantial portion of our revenues.
  • We are subject to pricing pressures from customers, which could harm our operating results and financial condition.
  • We rely on third party suppliers for raw materials, key products and subcomponents. Increased prices for, or unavailability of, these materials, products or subcomponents could adversely affect our results of operations.
  • Quality problems with our products could result in warranty claims and additional costs, could harm our reputation and could erode our competitive advantage.
  • Our energy market revenues are dependent on conditions in the oil and natural gas industry, which historically have been volatile.
  • Interruptions of our manufacturing operations could delay production and adversely affect our operations.
  • Our operations are subject to cyber-attacks and other information technology disruptions that could have a material adverse effect on our business, consolidated results of operations and consolidated financial condition.
  • We may not be able to attract, train and retain a sufficient number of qualified associates to maintain and grow our business.
  • We are dependent upon our senior management team and key technical personnel and the loss of any of them could significantly harm us.
  • Consolidation in the healthcare industry could result in greater competition and reduce our revenues and harm our business.
  • If we are unable to successfully market our current or future products, our business will be harmed and our revenues and operating results will be adversely affected.
  • We may face intense competition that could harm our business and we may be unable to compete successfully against new entrants and established companies with greater resources.
  • If we do not respond to changes in technology, our products may become obsolete or less competitive and we may experience a loss of customers and lower revenues.
  • We intend to develop new products and expand into new geographic and product markets, which may not be successful and could harm our operating results.
  • If we are not successful in making acquisitions to expand and develop our business, our operating results may suffer.
  • Successful integration and anticipated benefits of acquisitions cannot be assured and integration matters could divert attention of management away from operations.
  • Our operating results may fluctuate, which may make it difficult to forecast our future performance and may result in volatility in our stock price.
  • We have significant indebtedness that could affect our operations, financial condition, and cash flows if we fail to meet certain financial covenants required by our debt agreements or if our access to capital markets is interrupted.
  • Economic and credit market uncertainty could interrupt our access to capital markets, borrowings, or financial transactions to hedge certain risks, which could adversely affect our financial condition.
  • Our international sales and operations are subject to a variety of market and financial risks and costs that could affect our profitability and operating results.
  • We have a complex tax profile due to the global nature of our operations and may experience significant variability in our quarterly and annual effective tax rate due to several factors, including changes in the mix of pre-tax income and the jurisdictions to which it relates, business acquisitions, settlements with taxing authorities, and changes in tax rates.
  • We may never realize the full value of our intangible assets, which represent a significant portion of our total assets.
  • Regulatory issues resulting from product complaints, or recalls, or regulatory audits could harm our ability to produce and supply products or bring new products to market.
  • If we become subject to product liability claims, our operating results and financial condition could suffer.
  • If we are unable to protect our intellectual property and proprietary rights, our business could be harmed.
  • We may be subject to intellectual property claims, which could be costly and time consuming and could divert our management’s attention from our business operations.
  • A failure to comply with customer-driven policies and standards and third-party certification requirements or standards could adversely affect our business and reputation.
  • Our failure to obtain licenses from third parties for new technologies or the loss of these licenses could impair our ability to design and manufacture new products and reduce our revenues.
  • Our business is subject to environmental regulations that could be costly to comply with.
  • Our international operations expose us to legal and regulatory risks, which could adversely affect our business.
  • The healthcare industry is highly regulated and subject to various political, economic and regulatory changes that could increase our compliance costs and force us to modify how we develop and price our products.
  • Our business is indirectly subject to healthcare industry cost containment measures that could result in reduced sales of our products.
Management Discussion
  • Income from continuing operations for 2020 was $77.3 million or $2.33 per diluted share compared to $91.2 million or $2.76 per diluted share for 2019. These variances are primarily the result of the following:
  • •Sales from continuing operations for 2020 decreased 15% primarily due to the impact of the COVID-19 pandemic.
  • •Gross profit for 2020 decreased $69.3 million or 20%, primarily from a decrease in sales volume, price reductions to our customers, and a loss in volume leverage, which resulted from our sales decrease, partially offset by 2019 charges associated with a customer bankruptcy (see Customer Bankruptcy under Our Financial Results below).
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