Brokerages Set Integra LifeSciences Holdings Co. (NASDAQ:IART) Price Target at $23.00

Integra LifeSciences Holdings Co. (NASDAQ:IART) has earned a consensus rating of “Reduce” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $23.00.

IART has been the subject of several research analyst reports. Citigroup increased their price objective on shares of Integra LifeSciences from $16.00 to $22.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. BTIG Research upgraded shares of Integra LifeSciences from a “sell” rating to a “neutral” rating in a research note on Monday, October 7th. Bank of America cut their target price on Integra LifeSciences from $26.00 to $18.00 and set an “underperform” rating on the stock in a research report on Monday, October 7th. Morgan Stanley began coverage on Integra LifeSciences in a research note on Monday, December 2nd. They set an “underweight” rating and a $20.00 price target on the stock. Finally, Truist Financial reduced their price objective on Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating for the company in a research note on Monday, October 14th.

Integra LifeSciences Price Performance

Shares of IART opened at $26.34 on Friday. The company has a 50 day moving average of $23.59 and a two-hundred day moving average of $22.28. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -292.63, a price-to-earnings-growth ratio of 0.83 and a beta of 1.16. 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 has a twelve month low of $16.81 and a twelve month high of $45.42.

Integra LifeSciences (NASDAQ:IART) last announced its earnings results on Monday, November 4th. The life sciences company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $380.80 million for the quarter, compared to the consensus estimate of $375.81 million. Integra LifeSciences had a positive return on equity of 12.35% and a negative net margin of 0.42%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.76 EPS. As a group, analysts predict that Integra LifeSciences will post 2.45 earnings per share for the current fiscal year.

Insider Transactions at Integra LifeSciences

In other Integra LifeSciences news, EVP Michael J. Mcbreen sold 1,700 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $24.16, for a total value of $41,072.00. Following the completion of the transaction, the executive vice president now directly owns 56,182 shares of the company’s stock, valued at approximately $1,357,357.12. The trade was a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Integra LifeSciences

Several institutional investors have recently made changes to their positions in the company. KBC Group NV boosted its holdings in Integra LifeSciences by 65.2% during the third quarter. KBC Group NV now owns 2,839 shares of the life sciences company’s stock worth $52,000 after buying an additional 1,120 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of 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 acquiring an additional 2,800 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Integra LifeSciences during the 2nd quarter worth about $114,000. Northwest Investment Counselors LLC acquired a new stake in shares of Integra LifeSciences during the 3rd quarter valued at about $73,000. Finally, Empowered Funds LLC purchased a new position in shares of Integra LifeSciences in the 4th quarter valued at about $180,000. 84.78% of the stock is owned by hedge funds and other institutional investors.

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.