Integra LifeSciences Holdings Co. (NASDAQ:IART) Sees Significant Drop in Short Interest

Integra LifeSciences Holdings Co. (NASDAQ:IART) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 3,310,000 shares, a decrease of 16.8% from the March 15th total of 3,980,000 shares. Based on an average trading volume of 678,100 shares, the short-interest ratio is currently 4.9 days. Currently, 5.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On Integra LifeSciences

A number of hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its stake in shares of Integra LifeSciences by 2,418.7% in the first quarter. Assenagon Asset Management S.A. now owns 1,799,944 shares of the life sciences company’s stock valued at $39,581,000 after buying an additional 1,728,480 shares during the period. Paradigm Capital Management Inc. NY raised its stake in Integra LifeSciences by 170.3% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,431,100 shares of the life sciences company’s stock valued at $32,457,000 after acquiring an additional 901,600 shares during the period. Capital Research Global Investors lifted its holdings in Integra LifeSciences by 7.4% during the fourth quarter. Capital Research Global Investors now owns 1,400,559 shares of the life sciences company’s stock valued at $31,765,000 after purchasing an additional 95,944 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Integra LifeSciences by 86.8% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,332,031 shares of the life sciences company’s stock worth $30,210,000 after purchasing an additional 618,773 shares in the last quarter. Finally, Soleus Capital Management L.P. bought a new stake in shares of Integra LifeSciences in the fourth quarter valued at approximately $28,940,000. Institutional investors own 84.78% of the company’s stock.

Integra LifeSciences Stock Performance

IART stock opened at $15.83 on Friday. The business has a 50 day moving average of $21.30 and a 200-day moving average of $22.25. The firm has a market cap of $1.22 billion, a PE ratio of -175.87, a P/E/G ratio of 0.73 and a beta of 1.24. Integra LifeSciences has a 12-month low of $15.46 and a 12-month high of $32.66. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.79.

Integra LifeSciences (NASDAQ:IART) last released its earnings results on Tuesday, February 25th. The life sciences company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. The company had revenue of $442.65 million for the quarter, compared to analysts’ expectations of $445.15 million. Integra LifeSciences had a positive return on equity of 12.35% and a negative net margin of 0.42%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.89 EPS. As a group, sell-side analysts expect that Integra LifeSciences will post 2.45 earnings per share for the current year.

Analysts Set New Price Targets

IART has been the subject of several recent analyst reports. Argus upgraded Integra LifeSciences from a “hold” rating to a “buy” rating in a research note on Monday, March 31st. Truist Financial decreased their target price on Integra LifeSciences from $26.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $22.71.

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.