Integra LifeSciences (NASDAQ:IART) Trading 4% Higher Following Analyst Upgrade

Shares of Integra LifeSciences Holdings Co. (NASDAQ:IARTGet Free Report) shot up 4% during mid-day trading on Thursday after Citigroup raised their price target on the stock from $24.00 to $28.00. Citigroup currently has a neutral rating on the stock. Integra LifeSciences traded as high as $29.58 and last traded at $29.24. 201,601 shares traded hands during trading, a decline of 77% from the average session volume of 859,413 shares. The stock had previously closed at $28.12.

Several other research analysts have also recently commented on the stock. JMP Securities reduced their target price on shares of Integra LifeSciences from $49.00 to $40.00 and set a “market outperform” rating for the company in a report on Tuesday, May 7th. Bank of America cut their price target on shares of Integra LifeSciences from $42.00 to $26.00 and set an “underperform” rating for the company in a research note on Tuesday, May 7th. Morgan Stanley cut their price target on shares of Integra LifeSciences from $37.00 to $24.00 and set an “underweight” rating for the company in a research note on Tuesday, May 7th. StockNews.com cut shares of Integra LifeSciences from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Finally, Truist Financial cut their price target on shares of Integra LifeSciences from $37.00 to $25.00 and set a “hold” rating for the company in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Integra LifeSciences has a consensus rating of “Hold” and an average price target of $35.80.

View Our Latest Stock Analysis on IART

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC increased its stake in shares of Integra LifeSciences by 248.5% in the 4th quarter. Signaturefd LLC now owns 582 shares of the life sciences company’s stock valued at $25,000 after acquiring an additional 415 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Integra LifeSciences by 123.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 670 shares of the life sciences company’s stock valued at $29,000 after acquiring an additional 370 shares in the last quarter. Gladius Capital Management LP bought a new stake in shares of Integra LifeSciences in the 3rd quarter valued at $47,000. Valley National Advisers Inc. bought a new stake in Integra LifeSciences during the 1st quarter valued at $63,000. Finally, Covestor Ltd increased its stake in Integra LifeSciences by 82.5% during the 3rd quarter. Covestor Ltd now owns 2,037 shares of the life sciences company’s stock valued at $78,000 after purchasing an additional 921 shares in the last quarter. Institutional investors and hedge funds own 84.78% of the company’s stock.

Integra LifeSciences Stock Up 2.1 %

The firm has a market cap of $2.26 billion, a P/E ratio of 56.24, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The stock’s 50 day simple moving average is $30.78 and its 200 day simple moving average is $37.48. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.35 and a current ratio of 4.68.

Integra LifeSciences (NASDAQ:IARTGet Free Report) last announced its quarterly earnings results on Monday, May 6th. The life sciences company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. The business had revenue of $368.90 million during the quarter, compared to analyst estimates of $361.96 million. Integra LifeSciences had a net margin of 2.63% and a return on equity of 14.27%. Integra LifeSciences’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. Research analysts anticipate that Integra LifeSciences Holdings Co. will post 3.03 EPS for the current year.

Integra LifeSciences Company Profile

(Get Free Report)

Integra LifeSciences Holdings Corporation manufactures and sells surgical instruments, neurosurgical products, and wound care products for use in neurosurgery, neurocritical care, and otolaryngology. It operates in two segments, Codman Specialty Surgical and Tissue Technologies. The company offers neurosurgery and neuro critical care products, including tissue ablation equipment, dural repair products, cerebral spinal fluid management devices, intracranial monitoring equipment, and cranial stabilization equipment; and surgical headlamps and instrumentation, as well as after-market services.

Further Reading

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