Citigroup Lowers Integra LifeSciences (NASDAQ:IART) Price Target to $16.00

Integra LifeSciences (NASDAQ:IART) had its price target decreased by equities researchers at Citigroup from $20.00 to $16.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “sell” rating on the life sciences company’s stock. Citigroup’s price target would indicate a potential downside of 9.19% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Morgan Stanley lifted their price objective on Integra LifeSciences from $24.00 to $27.00 and gave the company an “underweight” rating in a report on Monday, July 15th. JMP Securities decreased their price target on Integra LifeSciences from $40.00 to $35.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 30th. Truist Financial decreased their price target on Integra LifeSciences from $32.00 to $26.00 and set a “hold” rating on the stock in a research note on Tuesday, July 30th. Finally, BTIG Research decreased their price target on Integra LifeSciences from $22.00 to $20.00 and set a “sell” rating on the stock in a research note on Wednesday, August 28th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.13.

Integra LifeSciences Stock Performance

Shares of NASDAQ IART traded down $0.55 during midday trading on Tuesday, reaching $17.62. 224,689 shares of the company were exchanged, compared to its average volume of 1,119,509. The company has a current ratio of 3.39, a quick ratio of 2.10 and a debt-to-equity ratio of 1.17. Integra LifeSciences has a 1 year low of $16.96 and a 1 year high of $45.42. The stock has a fifty day simple moving average of $21.06 and a 200 day simple moving average of $27.02. The stock has a market cap of $1.39 billion, a P/E ratio of 35.20, a PEG ratio of 0.60 and a beta of 1.10.

Integra LifeSciences (NASDAQ:IART) last announced its quarterly earnings data on Monday, July 29th. The life sciences company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Integra LifeSciences had a return on equity of 14.07% and a net margin of 1.51%. The company had revenue of $418.20 million for the quarter, compared to analyst estimates of $413.07 million. During the same quarter in the previous year, the company earned $0.71 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, research analysts forecast that Integra LifeSciences will post 2.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Systematic Financial Management LP raised its holdings in Integra LifeSciences by 540.6% in the 2nd quarter. Systematic Financial Management LP now owns 397,474 shares of the life sciences company’s stock valued at $11,582,000 after acquiring an additional 335,424 shares during the last quarter. Algert Global LLC acquired a new position in Integra LifeSciences in the 2nd quarter valued at $1,312,000. D. E. Shaw & Co. Inc. raised its holdings 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 acquiring an additional 335,557 shares during the last quarter. AQR Capital Management LLC raised its holdings in Integra LifeSciences by 90.9% in the 2nd quarter. AQR Capital Management LLC now owns 611,798 shares of the life sciences company’s stock valued at $17,436,000 after acquiring an additional 291,326 shares during the last quarter. Finally, AXA S.A. raised its holdings in Integra LifeSciences by 409.1% in the 2nd quarter. AXA S.A. now owns 96,689 shares of the life sciences company’s stock valued at $2,818,000 after acquiring an additional 77,697 shares during the last quarter. 84.78% of the stock is currently owned by institutional investors and hedge funds.

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.