StockNews.com Lowers Integra LifeSciences (NASDAQ:IART) to Hold

Integra LifeSciences (NASDAQ:IARTGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other research analysts have also issued reports on the company. Truist Financial lowered Integra LifeSciences from a “buy” rating to a “hold” rating and reduced their target price for the company from $72.00 to $71.00 in a research report on Wednesday, April 13th. Piper Sandler reduced their target price on Integra LifeSciences from $72.00 to $66.00 in a research report on Wednesday, February 23rd. Finally, Bank of America upped their target price on Integra LifeSciences from $55.00 to $65.00 and gave the company an “underperform” rating in a research report on Tuesday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $75.56.

Shares of IART traded down $3.58 during trading hours on Friday, hitting $60.33. The company had a trading volume of 477,730 shares, compared to its average volume of 453,539. The company has a market capitalization of $5.02 billion, a PE ratio of 30.47, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. The company has a current ratio of 3.39, a quick ratio of 2.46 and a debt-to-equity ratio of 0.89. Integra LifeSciences has a one year low of $60.23 and a one year high of $77.40. The company’s fifty day moving average price is $64.93 and its two-hundred day moving average price is $66.37.

Integra LifeSciences (NASDAQ:IARTGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The life sciences company reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.01. The firm had revenue of $405.52 million during the quarter, compared to analyst estimates of $403.41 million. Integra LifeSciences had a return on equity of 16.93% and a net margin of 10.96%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. Analysts forecast that Integra LifeSciences will post 3.3 earnings per share for the current year.

In other news, COO Glenn Coleman sold 6,268 shares of the company’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $66.04, for a total value of $413,938.72. Following the sale, the chief operating officer now owns 41,288 shares in the company, valued at $2,726,659.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tru St Partnership, L.P. sold 150,000 shares of the company’s stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $64.67, for a total value of $9,700,500.00. The disclosure for this sale can be found here. Insiders sold 231,268 shares of company stock worth $15,050,939 over the last three months. Corporate insiders own 4.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. purchased a new position in Integra LifeSciences during the first quarter worth approximately $329,000. State of New Jersey Common Pension Fund D boosted its position in Integra LifeSciences by 2.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 37,594 shares of the life sciences company’s stock worth $2,574,000 after purchasing an additional 772 shares in the last quarter. Nordea Investment Management AB boosted its position in Integra LifeSciences by 98.9% during the third quarter. Nordea Investment Management AB now owns 197,640 shares of the life sciences company’s stock worth $14,000,000 after purchasing an additional 98,287 shares in the last quarter. Raymond James & Associates boosted its position in Integra LifeSciences by 2.6% during the third quarter. Raymond James & Associates now owns 120,508 shares of the life sciences company’s stock worth $8,252,000 after purchasing an additional 3,060 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in Integra LifeSciences by 1.8% during the third quarter. Retirement Systems of Alabama now owns 94,183 shares of the life sciences company’s stock worth $6,450,000 after purchasing an additional 1,658 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

About Integra LifeSciences (Get Rating)

Integra LifeSciences Holdings Corporation develops, manufactures, and markets surgical implants and medical instruments for use in neurosurgery, extremity reconstruction, and general surgery. 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 asset management software and support, and after-market services.

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