Integra LifeSciences (NASDAQ:IART) Sets New 1-Year Low at $22.20

Integra LifeSciences Holdings Co. (NASDAQ:IART) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $22.20 and last traded at $22.35, with a volume of 479168 shares changing hands. The stock had previously closed at $24.04.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup downgraded shares of Integra LifeSciences from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $30.00 to $23.00 in a research report on Tuesday, July 30th. Morgan Stanley boosted their target price on shares of Integra LifeSciences from $24.00 to $27.00 and gave the stock an “underweight” rating in a research report on Monday, July 15th. Truist Financial decreased their price target on Integra LifeSciences from $32.00 to $26.00 and set a “hold” rating for the company in a research note on Tuesday, July 30th. Bank of America decreased their price target on Integra LifeSciences from $42.00 to $26.00 and set an “underperform” rating for the company in a research note on Tuesday, May 7th. Finally, BTIG Research downgraded Integra LifeSciences from a “neutral” rating to a “sell” rating and set a $22.00 price target for the company. in a research note on Tuesday, July 30th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.25.

Integra LifeSciences Stock Down 4.7 %

The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.35. The stock’s fifty day simple moving average is $29.20 and its 200-day simple moving average is $32.87. The stock has a market cap of $1.71 billion, a P/E ratio of 45.56, a PEG ratio of 0.84 and a beta of 1.11.

Integra LifeSciences (NASDAQ:IART) last issued its earnings results on Monday, July 29th. The life sciences company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Integra LifeSciences had a net margin of 1.51% and a return on equity of 14.07%. The firm had revenue of $418.20 million for the quarter, compared to analysts’ expectations of $413.07 million. During the same quarter last year, the company posted $0.71 earnings per share. Integra LifeSciences’s revenue was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Integra LifeSciences Holdings Co. will post 2.45 earnings per share for the current year.

Insiders Place Their Bets

In other Integra LifeSciences news, Chairman Stuart Essig purchased 52,641 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were bought at an average price of $28.49 per share, with a total value of $1,499,742.09. Following the completion of the acquisition, the chairman now owns 487,922 shares in the company, valued at approximately $13,900,897.78. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Integra LifeSciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in IART. International Assets Investment Management LLC purchased a new position in Integra LifeSciences during the 4th quarter worth approximately $190,000. GHP Investment Advisors Inc. boosted its stake in shares of Integra LifeSciences by 9.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 57,724 shares of the life sciences company’s stock valued at $2,514,000 after buying an additional 4,928 shares during the period. Cerity Partners LLC acquired a new stake in shares of Integra LifeSciences during the 4th quarter valued at $291,000. Cardinal Capital Management boosted its stake in shares of Integra LifeSciences by 1.6% during the 4th quarter. Cardinal Capital Management now owns 22,101 shares of the life sciences company’s stock valued at $962,000 after buying an additional 347 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Integra LifeSciences during the 4th quarter valued at $832,000. 84.78% of the stock is currently owned by hedge funds and other institutional investors.

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.