This Medical Device Stock Is Down 25%. One Fund Just Disclosed Buying $5 Million More
Key Points
Sea Cliff Capital added 55,359 shares of Integer Holdings in the first quarter; the estimated transaction value was $4.71 million (based on quarterly average pricing).
Meanwhile, the quarter-end stake value rose by $6.14 million, reflecting both trading and price movement.
The trade represented a 2.43% shift in 13F reportable AUM.
The quarter-end stake stood at 188,331 shares, valued at $16.57 million.
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Sea Cliff Partners Management disclosed a purchase of 55,359 Integer Holdings (NYSE:ITGR) shares in its May 15, 2026, SEC filing, an estimated $4.71 million trade based on quarterly average pricing.
What happened
According to its SEC filing dated May 15, 2026, Sea Cliff Partners Management increased its position in Integer Holdings (NYSE:ITGR) by 55,359 shares during the first quarter. The estimated value of this trade was $4.71 million, based on the quarter’s average share price. The quarter-end position was worth $16.57 million. The net position change, including market movement, was $6.14 million higher than the prior quarter.
What else to know
- This was a buy; Integer Holdings now accounts for 8.56% of the fund’s 13F assets under management.
- Top five holdings post-filing:
- NASDAQ: BTSG: $33.43 million (17.3% of AUM)
- NYSE: WCC: $23.59 million (12.2% of AUM)
- NYSE: LTH: $17.70 million (9.1% of AUM)
- NASDAQ: OKTA: $17.32 million (8.9% of AUM)
- NYSE: ITGR: $16.57 million (8.6% of AUM)
- As of May 14, 2026, ITGR shares were priced at $89.82, down 25% over the past year and lagging the S&P 500 by over 50 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $1.85 billion |
| Net Income (TTM) | $141.80 million |
| Market Capitalization | $3 billion |
| Price (as of market close 2026-05-14) | $89.82 |
Company Snapshot
- Integer Holdings produces a diverse range of medical devices and components, including products for interventional cardiology, cardiac rhythm management, neuromodulation, orthopedic surgery, and surgical instruments.
- The firm operates as a contract manufacturer, generating revenue by designing, developing, and manufacturing devices and sub-assemblies for original equipment manufacturers in the healthcare sector.
- It serves multinational OEMs and their subsidiaries in cardiac, neuromodulation, orthopedics, vascular, and advanced surgical markets, with a global customer base.
Integer Holdings is a leading medical device outsource manufacturer with a broad portfolio serving the global healthcare industry. The company leverages advanced manufacturing capabilities and deep engineering expertise to deliver high-quality products for complex medical applications. Its scale, technical know-how, and diversified customer relationships underpin a competitive position in the medical device supply chain.
What this transaction means for investors
This buy ultimately looks like a calculated bet that Integer Holdings’ recent weakness may have created an opportunity ahead of a potentially transformative moment for the company. While the purchase happened before management announced a strategic review on April 30, the timing is still notable given the board later said it would explore options including a sale, merger, or other strategic combination.
The market had already been souring on Integer before that announcement. Shares were down 25% over the past year as investors worried about slowing growth and temporary headwinds tied to several new products. First-quarter results reflected some of that pressure. Sales rose just 0.5% to $440 million, while adjusted operating income fell 14% to $61 million. Management also lowered parts of its 2026 outlook and flagged customer forecast changes and broader market dynamics.
For long-term investors, the story now hinges on whether operational growth reaccelerates in 2027 as management said it expects, or whether the strategic review unlocks value sooner through a transaction.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Okta and Wesco International. The Motley Fool has a disclosure policy.
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