Integra LifeSciences (NASDAQ:IART) Shares Down 2.9% – Here’s What Happened

Integra LifeSciences Holdings Co. (NASDAQ:IART)’s share price fell 2.9% during mid-day trading on Wednesday . The company traded as low as $22.04 and last traded at $21.97. 61,191 shares were traded during trading, a decline of 94% from the average session volume of 999,725 shares. The stock had previously closed at $22.62.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley began coverage on shares of Integra LifeSciences in a research note on Monday, December 2nd. They set an “underweight” rating and a $20.00 price target on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.00.

Integra LifeSciences Stock Performance

The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.79. The company has a market cap of $1.74 billion, a PE ratio of -250.81, a P/E/G ratio of 0.73 and a beta of 1.23. The stock’s 50 day simple moving average is $23.84 and its two-hundred day simple moving average is $22.02.

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

Institutional Investors Weigh In On Integra LifeSciences

Several large investors have recently made changes to their positions in the business. Sachem Head Capital Management LP acquired a new stake in Integra LifeSciences during the 3rd quarter valued at $44,153,000. Paradigm Capital Management Inc. NY grew its holdings in Integra LifeSciences by 170.3% during 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 purchasing an additional 901,600 shares in the last quarter. Capital Research Global Investors grew its holdings in Integra LifeSciences by 7.4% during the 4th 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 in the last quarter. Lord Abbett & CO. LLC grew its holdings in Integra LifeSciences by 86.8% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,332,031 shares of the life sciences company’s stock valued at $30,210,000 after purchasing an additional 618,773 shares in the last quarter. Finally, Soleus Capital Management L.P. acquired a new stake in Integra LifeSciences during the 4th quarter valued at $28,940,000. Institutional investors and hedge funds own 84.78% of the company’s stock.

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.