Integra LifeSciences (NASDAQ:IART) PT Lowered to $40.00

Integra LifeSciences (NASDAQ:IART) had its price objective reduced by stock analysts at JMP Securities from $49.00 to $40.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “market outperform” rating on the life sciences company’s stock. JMP Securities’ price objective points to a potential upside of 60.58% from the stock’s previous close.

A number of other brokerages have also issued reports on IART. Wells Fargo & Company lowered Integra LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $45.00 to $25.00 in a research note on Tuesday. Citigroup raised shares of Integra LifeSciences from a “sell” rating to a “neutral” rating and set a $38.00 target price for the company in a research note on Wednesday, April 3rd. Bank of America reduced their price target on shares of Integra LifeSciences from $42.00 to $26.00 and set an “underperform” rating on the stock in a research note on Tuesday. Truist Financial lowered their price objective on shares of Integra LifeSciences from $37.00 to $25.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Oppenheimer lowered shares of Integra LifeSciences from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.80.

Integra LifeSciences Stock Performance

NASDAQ:IART opened at $24.91 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.18 and a current ratio of 3.45. The stock’s fifty day moving average is $32.67 and its 200 day moving average is $38.15. The firm has a market capitalization of $1.96 billion, a PE ratio of 30.01, a PEG ratio of 0.87 and a beta of 1.17. Integra LifeSciences has a fifty-two week low of $22.36 and a fifty-two week high of $50.78.

Integra LifeSciences (NASDAQ:IART) last released its earnings results on Monday, May 6th. The life sciences company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The firm had revenue of $368.90 million during the quarter, compared to analyst estimates of $361.96 million. Integra LifeSciences had a net margin of 4.39% and a return on equity of 15.19%. The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business earned $0.74 EPS. On average, sell-side analysts anticipate that Integra LifeSciences will post 3.19 earnings per share for the current year.

Institutional Investors Weigh In On Integra LifeSciences

A number of hedge funds have recently made changes to their positions in the stock. Raymond James & Associates lifted its position in shares of Integra LifeSciences by 28.7% during the third quarter. Raymond James & Associates now owns 204,325 shares of the life sciences company’s stock valued at $7,803,000 after buying an additional 45,554 shares during the last quarter. Strs Ohio lifted its position in Integra LifeSciences by 6.9% during the third quarter. Strs Ohio now owns 41,730 shares of the life sciences company’s stock valued at $1,593,000 after acquiring an additional 2,679 shares during the last quarter. Advisor Partners II LLC acquired a new stake in Integra LifeSciences in the third quarter valued at approximately $241,000. Inspire Investing LLC grew its holdings in Integra LifeSciences by 5.1% in the third quarter. Inspire Investing LLC now owns 8,004 shares of the life sciences company’s stock worth $306,000 after purchasing an additional 392 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Integra LifeSciences by 451.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 70,827 shares of the life sciences company’s stock worth $2,705,000 after purchasing an additional 57,993 shares in the last quarter. 84.78% of the stock is currently 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.