Morgan Stanley Lowers Integra LifeSciences (NASDAQ:IART) Price Target to $24.00

Integra LifeSciences (NASDAQ:IART) had its price objective decreased by Morgan Stanley from $37.00 to $24.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “underweight” rating on the life sciences company’s stock. Morgan Stanley’s target price indicates a potential downside of 3.65% from the stock’s previous close.

A number of other research firms also recently commented on IART. 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. Truist Financial reduced their price target on shares of Integra LifeSciences from $37.00 to $25.00 and set a “hold” rating on the stock in a research report on Tuesday. Citigroup raised shares of Integra LifeSciences from a “sell” rating to a “neutral” rating and set a $38.00 target price on the stock in a research note on Wednesday, April 3rd. Bank of America decreased their price target on shares of Integra LifeSciences from $42.00 to $26.00 and set an “underperform” rating for the company in a research report on Tuesday. Finally, Oppenheimer cut Integra LifeSciences from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Integra LifeSciences currently has an average rating of “Hold” and an average price target of $36.80.

Integra LifeSciences Price Performance

Shares of NASDAQ:IART opened at $24.91 on Tuesday. The business has a fifty day simple moving average of $32.67 and a 200-day simple moving average of $38.15. The company has a quick ratio of 2.18, a current ratio of 3.45 and a debt-to-equity ratio of 0.94. Integra LifeSciences has a 52 week low of $22.36 and a 52 week high of $50.78. The company has a market cap of $1.96 billion, a P/E ratio of 30.01, a P/E/G ratio of 0.87 and a beta of 1.17.

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, meeting analysts’ consensus estimates of $0.55. Integra LifeSciences had a net margin of 4.39% and a return on equity of 15.19%. The firm had revenue of $368.90 million during the quarter, compared to the consensus estimate of $361.96 million. During the same period in the previous year, the firm earned $0.74 earnings per share. Integra LifeSciences’s revenue was down 3.2% compared to the same quarter last year. Equities research analysts forecast that Integra LifeSciences will post 3.19 EPS for the current year.

Institutional Investors Weigh In On Integra LifeSciences

Several hedge funds have recently bought and sold shares of IART. Signaturefd LLC grew its position in Integra LifeSciences by 248.5% during the fourth quarter. Signaturefd LLC now owns 582 shares of the life sciences company’s stock valued at $25,000 after purchasing an additional 415 shares in the last quarter. Hexagon Capital Partners LLC increased its position in Integra LifeSciences by 123.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 670 shares of the life sciences company’s stock worth $29,000 after purchasing an additional 370 shares during the last quarter. Gladius Capital Management LP acquired a new stake in shares of Integra LifeSciences during the 3rd quarter valued at about $47,000. Valley National Advisers Inc. bought a new stake in shares of Integra LifeSciences in the 1st quarter valued at approximately $63,000. Finally, Covestor Ltd raised its position in Integra LifeSciences by 82.5% during the third quarter. Covestor Ltd now owns 2,037 shares of the life sciences company’s stock valued at $78,000 after acquiring an additional 921 shares in the last quarter. 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.