Envestnet Asset Management Inc. Lowers Holdings in Integra LifeSciences Holdings Co. (NASDAQ:IART)

Envestnet Asset Management Inc. reduced its stake in shares of Integra LifeSciences Holdings Co. (NASDAQ:IART) by 21.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,323 shares of the life sciences company’s stock after selling 7,240 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Integra LifeSciences were worth $597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of IART. Nisa Investment Advisors LLC grew its stake in Integra LifeSciences by 599.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,267 shares of the life sciences company’s stock valued at $74,000 after acquiring an additional 2,800 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Integra LifeSciences during the fourth quarter valued at about $180,000. Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in shares of Integra LifeSciences in the fourth quarter worth about $204,000. Romano Brothers AND Company purchased a new stake in shares of Integra LifeSciences in the fourth quarter worth about $204,000. Finally, LPL Financial LLC bought a new position in Integra LifeSciences during the fourth quarter valued at approximately $255,000. Institutional investors own 84.78% of the company’s stock.

Integra LifeSciences Stock Performance

NASDAQ:IART opened at $16.85 on Friday. The firm has a market capitalization of $1.30 billion, a PE ratio of -187.20, a PEG ratio of 0.73 and a beta of 1.24. The stock’s fifty day moving average is $19.94 and its 200 day moving average is $22.12. Integra LifeSciences Holdings Co. has a fifty-two week low of $14.45 and a fifty-two week high of $32.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.73 and a current ratio of 1.20.

Integra LifeSciences (NASDAQ:IART) last announced its earnings results on Tuesday, February 25th. The life sciences company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.12. The business had revenue of $442.65 million for the quarter, compared to the consensus estimate of $445.15 million. Integra LifeSciences had a negative net margin of 0.42% and a positive return on equity of 12.35%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 earnings per share. On average, sell-side analysts anticipate that Integra LifeSciences Holdings Co. will post 2.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IART shares. Argus raised Integra LifeSciences from a “hold” rating to a “buy” rating in a research note on Monday, March 31st. Truist Financial reduced their price target on shares of 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 equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.71.

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.