Integra LifeSciences (NASDAQ:IART) Price Target Cut to $24.00 by Analysts at Morgan Stanley

Integra LifeSciences (NASDAQ:IART) had its target price trimmed by Morgan Stanley from $37.00 to $24.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has an underweight rating on the life sciences company’s stock.

Several other research analysts have also recently weighed in on IART. StockNews.com cut shares of Integra LifeSciences from a buy rating to a hold rating in a report on Tuesday, April 30th. Wells Fargo & Company cut Integra LifeSciences from an overweight rating to an equal weight rating and lowered their price target for the company from $45.00 to $25.00 in a report on Tuesday. Truist Financial cut their price objective on Integra LifeSciences from $37.00 to $25.00 and set a hold rating for the company in a report on Tuesday. JMP Securities lowered their target price on Integra LifeSciences from $49.00 to $40.00 and set a market outperform rating on the stock in a report on Tuesday. Finally, Bank of America dropped their target price on Integra LifeSciences from $42.00 to $26.00 and set an underperform rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $36.80.

Integra LifeSciences Price Performance

Shares of NASDAQ IART opened at $25.08 on Tuesday. The firm has a market cap of $1.97 billion, a P/E ratio of 30.22, a PEG ratio of 0.87 and a beta of 1.17. Integra LifeSciences has a twelve month low of $22.36 and a twelve month high of $51.12. The company has a quick ratio of 2.18, a current ratio of 3.45 and a debt-to-equity ratio of 0.94. The company has a 50 day moving average of $32.95 and a 200 day moving average of $38.24.

Integra LifeSciences (NASDAQ:IART) last posted its quarterly earnings results on Monday, May 6th. The life sciences company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Integra LifeSciences had a return on equity of 15.19% and a net margin of 4.39%. The firm had revenue of $368.90 million during the quarter, compared to analysts’ expectations of $361.96 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. As a group, research analysts expect that Integra LifeSciences will post 3.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Integra LifeSciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in Integra LifeSciences by 248.5% during the fourth quarter. Signaturefd LLC now owns 582 shares of the life sciences company’s stock valued at $25,000 after purchasing an additional 415 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in Integra LifeSciences by 123.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 670 shares of the life sciences company’s stock worth $29,000 after buying an additional 370 shares during the period. Gladius Capital Management LP purchased a new stake in Integra LifeSciences in the 3rd quarter worth $47,000. Valley National Advisers Inc. bought a new stake in Integra LifeSciences during the first quarter valued at about $63,000. Finally, Covestor Ltd lifted its position in shares of Integra LifeSciences by 82.5% in the third quarter. Covestor Ltd now owns 2,037 shares of the life sciences company’s stock valued at $78,000 after acquiring an additional 921 shares in the last quarter. 84.78% of the stock is owned by hedge funds and other institutional investors.

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.