Integra LifeSciences (NASDAQ:IART) Trading 4% Higher After Analyst Upgrade

Shares of Integra LifeSciences Holdings Co. (NASDAQ:IART) were up 4% during trading on Thursday after Citigroup raised their price target on the stock from $24.00 to $28.00. Citigroup currently has a neutral rating on the stock. Integra LifeSciences traded as high as $29.58 and last traded at $29.24. Approximately 201,601 shares traded hands during trading, a decline of 77% from the average daily volume of 859,413 shares. The stock had previously closed at $28.12.

A number of other analysts also recently commented on IART. Morgan Stanley dropped their price objective on Integra LifeSciences from $37.00 to $24.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 7th. Bank of America cut their price target on shares of Integra LifeSciences from $42.00 to $26.00 and set an “underperform” rating for the company in a report on Tuesday, May 7th. Truist Financial reduced their price objective on Integra LifeSciences from $37.00 to $25.00 and set a “hold” rating for the company in a research note on Tuesday, May 7th. Oppenheimer downgraded Integra LifeSciences from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 7th. Finally, Wells Fargo & Company downgraded Integra LifeSciences from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $45.00 to $25.00 in a report on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Integra LifeSciences has a consensus rating of “Hold” and an average price target of $35.00.

Insider Transactions at Integra LifeSciences

In other news, Chairman Stuart Essig purchased 52,641 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average price of $28.49 per share, with a total value of $1,499,742.09. Following the acquisition, the chairman now directly owns 487,922 shares in the company, valued at approximately $13,900,897.78. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Swiss National Bank grew its holdings in Integra LifeSciences by 0.9% during the third quarter. Swiss National Bank now owns 161,994 shares of the life sciences company’s stock valued at $6,187,000 after purchasing an additional 1,500 shares during the period. Cooke & Bieler LP lifted its holdings in Integra LifeSciences by 4.4% during the 4th quarter. Cooke & Bieler LP now owns 2,834,604 shares of the life sciences company’s stock worth $123,447,000 after purchasing an additional 120,410 shares during the last quarter. Cardinal Capital Management increased its position in Integra LifeSciences by 1.6% during the fourth quarter. Cardinal Capital Management now owns 22,101 shares of the life sciences company’s stock worth $962,000 after acquiring an additional 347 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in Integra LifeSciences in the 3rd quarter worth about $43,034,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Integra LifeSciences in the third quarter valued at approximately $25,443,000. Institutional investors own 84.78% of the company’s stock.

Integra LifeSciences Stock Performance

The stock has a market cap of $2.23 billion, a P/E ratio of 56.62, a price-to-earnings-growth ratio of 1.02 and a beta of 1.17. The stock has a 50 day simple moving average of $30.53 and a 200 day simple moving average of $37.35. The company has a current ratio of 4.68, a quick ratio of 3.35 and a debt-to-equity ratio of 1.15.

Integra LifeSciences (NASDAQ:IART) last posted its quarterly earnings results on Monday, May 6th. The life sciences company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Integra LifeSciences had a return on equity of 14.27% and a net margin of 2.63%. The company 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 firm earned $0.74 EPS. Integra LifeSciences’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts expect that Integra LifeSciences Holdings Co. will post 3.03 earnings per share for the current year.

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.