Integra LifeSciences (NASDAQ:IART) Hits New 1-Year Low After Earnings Miss

Integra LifeSciences Holdings Co. (NASDAQ:IART)’s stock price reached a new 52-week low during trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $11.60 and last traded at $13.28, with a volume of 7492449 shares trading hands. The stock had previously closed at $16.85.

The life sciences company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The company had revenue of $382.65 million for the quarter, compared to analyst estimates of $381.17 million. Integra LifeSciences had a negative net margin of 0.42% and a positive return on equity of 12.35%. Integra LifeSciences’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $0.55 EPS.

Analyst Ratings Changes

Several analysts have issued reports on IART shares. Argus upgraded Integra LifeSciences from a “hold” rating to a “buy” rating in a report 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 for the company in a research report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.71.

Institutional Investors Weigh In On Integra LifeSciences

Institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB boosted its position in Integra LifeSciences by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 127,908 shares of the life sciences company’s stock valued at $2,919,000 after purchasing an additional 5,032 shares during the last quarter. Romano Brothers AND Company acquired a new stake in shares of Integra LifeSciences during the 4th quarter valued at about $204,000. Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in shares of Integra LifeSciences in the 4th quarter valued at approximately $204,000. Nisa Investment Advisors LLC increased its holdings in Integra LifeSciences by 599.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,267 shares of the life sciences company’s stock worth $74,000 after buying an additional 2,800 shares during the last quarter. Finally, Choreo LLC raised its position in Integra LifeSciences by 29.9% during the fourth quarter. Choreo LLC now owns 22,274 shares of the life sciences company’s stock valued at $500,000 after acquiring an additional 5,123 shares in the last quarter. Institutional investors and hedge funds own 84.78% of the company’s stock.

Integra LifeSciences Price Performance

The stock’s 50 day simple moving average is $19.73 and its 200-day simple moving average is $22.09. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -147.54, a PEG ratio of 0.73 and a beta of 1.27. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.73.

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.