Short Interest in Integra LifeSciences Holdings Co. (NASDAQ:IART) Decreases By 20.8%

Integra LifeSciences Holdings Co. (NASDAQ:IART) saw a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 4,100,000 shares, a decline of 20.8% from the October 31st total of 5,180,000 shares. Based on an average daily volume of 974,300 shares, the short-interest ratio is presently 4.2 days. Currently, 6.2% of the company’s stock are sold short.

Integra LifeSciences Stock Performance

IART stock traded up $0.04 during midday trading on Friday, hitting $24.58. 249,836 shares of the stock traded hands, compared to its average volume of 1,089,028. The firm has a market cap of $1.90 billion, a P/E ratio of -273.08, a PEG ratio of 0.83 and a beta of 1.08. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.73. The stock’s fifty day simple moving average is $20.77 and its 200-day simple moving average is $24.00. Integra LifeSciences has a 1-year low of $16.81 and a 1-year high of $45.42.

Integra LifeSciences (NASDAQ:IART) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Integra LifeSciences had a negative net margin of 0.42% and a positive return on equity of 12.35%. The company had revenue of $380.80 million for the quarter, compared to analyst estimates of $375.81 million. During the same quarter last year, the business earned $0.76 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. On average, analysts expect that Integra LifeSciences will post 2.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on IART. Bank of America cut their target price on Integra LifeSciences from $26.00 to $18.00 and set an “underperform” rating on the stock in a research note on Monday, October 7th. Truist Financial decreased their price objective on shares of Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Citigroup boosted their target price on shares of Integra LifeSciences from $16.00 to $22.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Finally, BTIG Research raised shares of Integra LifeSciences from a “sell” rating to a “neutral” rating in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.00.

Hedge Funds Weigh In On Integra LifeSciences

Several hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. raised its stake in Integra LifeSciences by 100.5% during the second quarter. Blue Trust Inc. now owns 886 shares of the life sciences company’s stock worth $26,000 after purchasing an additional 444 shares during the period. CWM LLC raised its stake in Integra LifeSciences by 50.8% during the second quarter. CWM LLC now owns 1,262 shares of the life sciences company’s stock worth $37,000 after purchasing an additional 425 shares during the period. KBC Group NV raised its stake in Integra LifeSciences by 65.2% during the third quarter. KBC Group NV now owns 2,839 shares of the life sciences company’s stock worth $52,000 after purchasing an additional 1,120 shares during the period. Northwest Investment Counselors LLC purchased a new position in Integra LifeSciences during the third quarter worth about $73,000. Finally, Canada Pension Plan Investment Board purchased a new position in Integra LifeSciences during the second quarter worth about $114,000. 84.78% of the stock is owned by hedge funds and other institutional investors.

Integra LifeSciences Company Profile

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.