Integra LifeSciences (NASDAQ:IART) Reaches New 52-Week Low at $39.00

Posted by AM Reporter Staff on May 26th, 2023

Integra LifeSciences Holdings Co. (NASDAQ:IART – Get Rating)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $39.00 and last traded at $40.12, with a volume of 393997 shares. The stock had previously closed at $40.48.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JMP Securities dropped their price target on shares of Integra LifeSciences from $75.00 to $65.00 in a research note on Thursday, April 27th. JPMorgan Chase & Co. downgraded shares of Integra LifeSciences from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $56.00 to $43.00 in a research note on Wednesday. Truist Financial decreased their price objective on shares of Integra LifeSciences from $58.00 to $54.00 in a report on Thursday, May 18th. Citigroup lowered shares of Integra LifeSciences from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $59.00 to $39.00 in a report on Tuesday. Finally, StockNews.com initiated coverage on shares of Integra LifeSciences in a report on Thursday, May 18th. They set a “buy” rating for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $51.14.

Integra LifeSciences Price Performance

The company’s fifty day moving average price is $53.62 and its 200 day moving average price is $55.03. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.40 and a current ratio of 3.65. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15.

Integra LifeSciences (NASDAQ:IART – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The life sciences company reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. Integra LifeSciences had a net margin of 11.00% and a return on equity of 16.29%. The business had revenue of $380.85 million during the quarter, compared to analyst estimates of $373.21 million. During the same period in the previous year, the business posted $0.74 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Equities research analysts expect that Integra LifeSciences Holdings Co. will post 3.42 earnings per share for the current year.

Insider Activity

In other Integra LifeSciences news, EVP Michael J. Mcbreen sold 1,843 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $54.29, for a total transaction of $100,056.47. Following the completion of the transaction, the executive vice president now directly owns 28,796 shares of the company’s stock, valued at approximately $1,563,334.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Integra LifeSciences news, EVP Michael J. Mcbreen sold 1,843 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $54.29, for a total transaction of $100,056.47. Following the completion of the transaction, the executive vice president now directly owns 28,796 shares of the company’s stock, valued at approximately $1,563,334.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Evoli sold 3,767 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $57.00, for a total transaction of $214,719.00. Following the transaction, the executive vice president now directly owns 18,605 shares of the company’s stock, valued at $1,060,485. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Integra LifeSciences

A number of hedge funds and other institutional investors have recently made changes to their positions in IART. Victory Capital Management Inc. raised its position in shares of Integra LifeSciences by 8,208.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,230,064 shares of the life sciences company’s stock worth $70,618,000 after buying an additional 1,215,259 shares in the last quarter. Select Equity Group L.P. bought a new stake in shares of Integra LifeSciences during the 4th quarter worth about $47,199,000. Fuller & Thaler Asset Management Inc. raised its position in shares of Integra LifeSciences by 89.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,512,652 shares of the life sciences company’s stock worth $84,814,000 after buying an additional 713,454 shares in the last quarter. Norges Bank bought a new stake in shares of Integra LifeSciences during the 4th quarter worth about $39,872,000. Finally, Alliancebernstein L.P. raised its position in shares of Integra LifeSciences by 15.3% during the 4th quarter. Alliancebernstein L.P. now owns 2,896,633 shares of the life sciences company’s stock worth $162,414,000 after buying an additional 384,941 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

About Integra LifeSciences

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Integra LifeSciences Holdings Corp. engages in the provision of regenerative tissue technologies and neurological solutions dedicated to limiting uncertainty for clinicians. It operates under the Codman Specialty Surgical (CSS) and Tissue Technologies (TT) segments. The CSS segment includes technologies and instrumentation used for neurosurgery, neurocritical care, and otolaryngology.