Integra LifeSciences Holdings Co. (NASDAQ:IART) Receives $23.00 Consensus PT from Analysts

Integra LifeSciences Holdings Co. (NASDAQ:IART) has received an average recommendation of “Reduce” from the eight brokerages that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $23.00.

A number of research firms have recently commented on IART. Morgan Stanley initiated coverage on Integra LifeSciences in a research note on Monday, December 2nd. They issued an “underweight” rating and a $20.00 target price for the company. Bank of America reduced their target price 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. Truist Financial lowered their price target 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. BTIG Research upgraded shares of Integra LifeSciences from a “sell” rating to a “neutral” rating in a report on Monday, October 7th. Finally, Citigroup lifted their target price on shares of Integra LifeSciences from $16.00 to $22.00 and gave the company a “sell” rating in a report on Tuesday, November 5th.

Integra LifeSciences Stock Performance

Integra LifeSciences stock opened at $23.17 on Wednesday. The firm has a 50-day moving average of $23.17 and a 200-day moving average of $22.96. The firm has a market cap of $1.79 billion, a P/E ratio of -257.42, a P/E/G ratio of 0.82 and a beta of 1.15. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 0.79. Integra LifeSciences has a 1-year low of $16.81 and a 1-year high of $45.42.

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

Insiders Place Their Bets

In other Integra LifeSciences news, EVP Michael J. Mcbreen sold 1,700 shares of Integra LifeSciences stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $24.16, for a total transaction of $41,072.00. Following the completion of the transaction, the executive vice president now directly owns 56,182 shares of the company’s stock, valued at $1,357,357.12. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Integra LifeSciences

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Integra LifeSciences by 58.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,662 shares of the life sciences company’s stock valued at $136,000 after purchasing an additional 1,711 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Integra LifeSciences by 7.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,454 shares of the life sciences company’s stock worth $421,000 after purchasing an additional 1,010 shares during the period. Principal Financial Group Inc. increased its holdings in Integra LifeSciences by 32.0% during the second quarter. Principal Financial Group Inc. now owns 338,166 shares of the life sciences company’s stock valued at $9,854,000 after buying an additional 82,056 shares during the period. Rhumbline Advisers lifted its holdings in Integra LifeSciences by 8.8% during the second quarter. Rhumbline Advisers now owns 217,119 shares of the life sciences company’s stock worth $6,327,000 after buying an additional 17,628 shares during the period. Finally, Cooke & Bieler LP boosted 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 valued at $102,406,000 after acquiring an additional 388,710 shares in the last quarter. 84.78% of the stock is 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.