Integra LifeSciences (NASDAQ:IART) Sets New 52-Week Low Following Analyst Downgrade

Shares of Integra LifeSciences Holdings Co. (NASDAQ:IART) hit a new 52-week low during trading on Wednesday after BTIG Research lowered their price target on the stock from $22.00 to $20.00. BTIG Research currently has a sell rating on the stock. Integra LifeSciences traded as low as $20.20 and last traded at $20.25, with a volume of 15340 shares traded. The stock had previously closed at $20.52.

Several other research firms have also recently commented on IART. Truist Financial cut their target price on shares of Integra LifeSciences from $32.00 to $26.00 and set a “hold” rating for the company in a research note on Tuesday, July 30th. Bank of America lowered their price objective on Integra LifeSciences from $42.00 to $26.00 and set an “underperform” rating on the stock in a research report on Tuesday, May 7th. Wells Fargo & Company downgraded shares of Integra LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $45.00 to $25.00 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, Oppenheimer downgraded shares of Integra LifeSciences from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 7th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.63.

Institutional Investors Weigh In On Integra LifeSciences

Several institutional investors and hedge funds have recently made changes to their positions in IART. Capital Research Global Investors lifted its holdings in Integra LifeSciences by 37.7% during the 1st quarter. Capital Research Global Investors now owns 5,918,981 shares of the life sciences company’s stock valued at $209,828,000 after purchasing an additional 1,621,655 shares during the last quarter. Norges Bank acquired a new stake in shares of Integra LifeSciences during the fourth quarter worth approximately $29,272,000. Boston Partners bought a new position in shares of Integra LifeSciences in the first quarter valued at approximately $19,383,000. Cooke & Bieler LP grew its position in Integra LifeSciences by 12.4% during the 2nd quarter. Cooke & Bieler LP now owns 3,514,281 shares of the life sciences company’s stock worth $102,406,000 after acquiring an additional 388,710 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in Integra LifeSciences by 64.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 855,352 shares of the life sciences company’s stock valued at $24,925,000 after purchasing an additional 335,557 shares during the last quarter. Institutional investors and hedge funds own 84.78% of the company’s stock.

Integra LifeSciences Trading Up 1.8 %

The business has a 50 day simple moving average of $26.18 and a 200 day simple moving average of $30.61. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.35. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 41.42, a price-to-earnings-growth ratio of 0.84 and a beta of 1.11.

Integra LifeSciences (NASDAQ:IART) last issued its quarterly earnings results on Monday, July 29th. The life sciences company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The business had revenue of $418.20 million for the quarter, compared to the consensus estimate of $413.07 million. Integra LifeSciences had a net margin of 1.51% and a return on equity of 14.07%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. As a group, equities analysts forecast that Integra LifeSciences Holdings Co. will post 2.45 EPS for the current year.

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.