Integra LifeSciences Holdings Co. (NASDAQ:IART) Receives Average Rating of “Reduce” from Brokerages

Shares of Integra LifeSciences Holdings Co. (NASDAQ:IART) have earned an average recommendation of “Reduce” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $23.00.

A number of equities research analysts recently issued reports on IART shares. Bank of America lowered their price objective 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. Morgan Stanley initiated coverage on shares of Integra LifeSciences in a research note on Monday, December 2nd. They set an “underweight” rating and a $20.00 price target on the stock. Truist Financial cut their price objective on shares of Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating for the company in a report on Monday, October 14th. BTIG Research raised shares of Integra LifeSciences from a “sell” rating to a “neutral” rating in a report on Monday, October 7th. Finally, Citigroup raised their price target on Integra LifeSciences from $16.00 to $22.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th.

Integra LifeSciences Stock Performance

NASDAQ IART opened at $23.17 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.73 and a current ratio of 1.20. The company has a market capitalization of $1.79 billion, a PE ratio of -257.42, a price-to-earnings-growth ratio of 0.82 and a beta of 1.15. Integra LifeSciences has a 52-week low of $16.81 and a 52-week high of $45.42. The company has a 50-day simple moving average of $23.17 and a 200 day simple moving average of $22.88.

Integra LifeSciences (NASDAQ:IART) last posted its quarterly earnings results on Monday, November 4th. The life sciences company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $375.81 million. During the same quarter in the previous year, the firm posted $0.76 EPS. Integra LifeSciences’s revenue was down .4% on a year-over-year basis. On average, research analysts predict that Integra LifeSciences will post 2.45 EPS for the current year.

Insider Buying and Selling

In related news, EVP Michael J. Mcbreen sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $24.16, for a total value of $41,072.00. Following the transaction, the executive vice president now directly owns 56,182 shares in the company, valued at approximately $1,357,357.12. This represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Integra LifeSciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. KBC Group NV lifted its holdings in shares of Integra LifeSciences by 65.2% during the 3rd quarter. KBC Group NV now owns 2,839 shares of the life sciences company’s stock worth $52,000 after acquiring an additional 1,120 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in Integra LifeSciences during the third quarter worth about $73,000. Canada Pension Plan Investment Board bought a new stake in Integra LifeSciences during the second quarter worth about $114,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Integra LifeSciences by 58.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,662 shares of the life sciences company’s stock worth $136,000 after purchasing an additional 1,711 shares in the last quarter. Finally, Centiva Capital LP bought a new position in shares of Integra LifeSciences during the 3rd quarter valued at about $192,000. Hedge funds and other institutional investors own 84.78% of the company’s stock.

About Integra LifeSciences

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.