Citigroup Lowers Integra LifeSciences (NASDAQ:IART) Price Target to $16.00

Integra LifeSciences (NASDAQ:IART) had its price target dropped by stock analysts at Citigroup from $20.00 to $16.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “sell” rating on the life sciences company’s stock. Citigroup’s price objective indicates a potential downside of 7.62% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. JMP Securities dropped their price objective on shares of Integra LifeSciences from $40.00 to $35.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 30th. Truist Financial dropped 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. Morgan Stanley boosted their price objective on Integra LifeSciences from $24.00 to $27.00 and gave the stock an “underweight” rating in a research report on Monday, July 15th. Finally, BTIG Research dropped their target price on Integra LifeSciences from $22.00 to $20.00 and set a “sell” rating for the company in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.13.

Integra LifeSciences Trading Down 1.0 %

Shares of IART opened at $17.32 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.10 and a current ratio of 3.39. Integra LifeSciences has a 52-week low of $16.96 and a 52-week high of $45.42. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 0.60 and a beta of 1.10. The business’s fifty day moving average is $20.50 and its 200-day moving average is $26.83.

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

Hedge Funds Weigh In On Integra LifeSciences

A number of hedge funds have recently made changes to their positions in IART. Capital Research Global Investors raised its holdings in Integra LifeSciences by 37.7% during the 1st quarter. Capital Research Global Investors now owns 5,918,981 shares of the life sciences company’s stock worth $209,828,000 after purchasing an additional 1,621,655 shares during the last quarter. Cooke & Bieler LP increased its position in shares of Integra LifeSciences by 12.4% during the second quarter. Cooke & Bieler LP now owns 3,514,281 shares of the life sciences company’s stock worth $102,406,000 after buying an additional 388,710 shares during the period. Champlain Investment Partners LLC raised its stake in Integra LifeSciences by 10.3% during the first quarter. Champlain Investment Partners LLC now owns 2,687,972 shares of the life sciences company’s stock worth $95,289,000 after buying an additional 252,015 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Integra LifeSciences by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,785,009 shares of the life sciences company’s stock valued at $52,014,000 after buying an additional 12,766 shares during the period. Finally, Madison Avenue Partners LP boosted its position in Integra LifeSciences by 8.0% during the fourth quarter. Madison Avenue Partners LP now owns 1,042,156 shares of the life sciences company’s stock valued at $45,386,000 after acquiring an additional 77,489 shares during the last quarter. 84.78% of the stock is currently owned by 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.