Morgan Stanley Initiates Coverage on Integra LifeSciences (NASDAQ:IART)

Research analysts at Morgan Stanley assumed coverage on shares of Integra LifeSciences (NASDAQ:IART) in a research note issued on Monday, MarketBeat Ratings reports. The firm set an “underweight” rating and a $20.00 price target on the life sciences company’s stock. Morgan Stanley’s price objective would indicate a potential downside of 18.80% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Citigroup upped their target price on shares of Integra LifeSciences from $16.00 to $22.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. BTIG Research upgraded Integra LifeSciences from a “sell” rating to a “neutral” rating in a report on Monday, October 7th. Truist Financial reduced their price objective on Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Finally, Bank of America lowered their price target on shares of Integra LifeSciences from $26.00 to $18.00 and set an “underperform” rating on the stock in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Integra LifeSciences currently has a consensus rating of “Hold” and an average price target of $23.00.

Integra LifeSciences Trading Up 0.2 %

Shares of NASDAQ IART opened at $24.63 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.73. Integra LifeSciences has a one year low of $16.81 and a one year high of $45.42. The firm has a fifty day moving average of $20.92 and a 200 day moving average of $23.94.

Integra LifeSciences (NASDAQ:IART) last posted its quarterly earnings data on Monday, November 4th. The life sciences company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $380.80 million for the quarter, compared to analysts’ expectations of $375.81 million. Integra LifeSciences had a positive return on equity of 12.35% and a negative net margin of 0.42%. Integra LifeSciences’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 EPS. As a group, analysts forecast that Integra LifeSciences will post 2.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michael J. Mcbreen sold 1,700 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $24.16, for a total value of $41,072.00. Following the sale, the executive vice president now owns 56,182 shares in the company, valued at approximately $1,357,357.12. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by insiders.

Institutional Trading of Integra LifeSciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC raised its stake in shares of Integra LifeSciences by 181.1% in the first quarter. Jane Street Group LLC now owns 124,887 shares of the life sciences company’s stock valued at $4,427,000 after acquiring an additional 80,463 shares in the last quarter. SG Americas Securities LLC raised its position in Integra LifeSciences by 606.9% in the 2nd quarter. SG Americas Securities LLC now owns 67,471 shares of the life sciences company’s stock valued at $1,966,000 after purchasing an additional 57,927 shares in the last quarter. Versor Investments LP purchased a new position in shares of Integra LifeSciences in the 3rd quarter valued at about $612,000. Point72 Europe London LLP grew its position in shares of Integra LifeSciences by 13.8% during the second quarter. Point72 Europe London LLP now owns 546,035 shares of the life sciences company’s stock worth $15,911,000 after buying an additional 66,400 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Integra LifeSciences during the third quarter worth approximately $960,000. 84.78% of the stock is currently owned by hedge funds and other institutional investors.

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.