Integra LifeSciences (NASDAQ:IART) Price Target Cut to $18.00

Integra LifeSciences (NASDAQ:IART) had its price objective cut by equities researchers at Bank of America from $26.00 to $18.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “underperform” rating on the life sciences company’s stock. Bank of America‘s target price would suggest a potential upside of 2.92% from the stock’s previous close.

A number of other research firms have also recently weighed in on IART. Morgan Stanley raised their price target on shares of Integra LifeSciences from $24.00 to $27.00 and gave the company an “underweight” rating in a report on Monday, July 15th. JMP Securities cut their price target on shares of Integra LifeSciences from $40.00 to $35.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 30th. Truist Financial decreased their price objective on Integra LifeSciences from $32.00 to $26.00 and set a “hold” rating for the company in a report on Tuesday, July 30th. BTIG Research upgraded Integra LifeSciences from a “sell” rating to a “neutral” rating in a research note on Monday. Finally, Citigroup reduced their target price on Integra LifeSciences from $20.00 to $16.00 and set a “sell” rating on the stock in a research report on Tuesday, October 1st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Integra LifeSciences has a consensus rating of “Hold” and an average price target of $27.13.

Integra LifeSciences Price Performance

NASDAQ IART opened at $17.49 on Monday. The company has a market cap of $1.38 billion, a PE ratio of 34.98, a P/E/G ratio of 0.60 and a beta of 1.09. Integra LifeSciences has a 52-week low of $16.81 and a 52-week high of $45.42. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.10 and a current ratio of 3.39. The firm’s 50 day moving average price is $19.61 and its 200-day moving average price is $26.30.

Integra LifeSciences (NASDAQ:IART) last announced its quarterly 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. Integra LifeSciences had a return on equity of 14.07% and a net margin of 1.51%. The business had revenue of $418.20 million for the quarter, compared to the consensus estimate of $413.07 million. During the same period last year, the business posted $0.71 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. Sell-side analysts forecast that Integra LifeSciences will post 2.45 EPS for the current fiscal year.

Institutional Trading of Integra LifeSciences

Large investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its stake in shares of Integra LifeSciences by 22.9% in the third quarter. Handelsbanken Fonder AB now owns 23,602 shares of the life sciences company’s stock worth $429,000 after purchasing an additional 4,400 shares during the last quarter. Systematic Financial Management LP raised its position in Integra LifeSciences by 540.6% during the 2nd quarter. Systematic Financial Management LP now owns 397,474 shares of the life sciences company’s stock worth $11,582,000 after buying an additional 335,424 shares during the last quarter. Algert Global LLC purchased a new position in Integra LifeSciences during the 2nd quarter worth approximately $1,312,000. D. E. Shaw & Co. Inc. lifted its stake in Integra LifeSciences by 64.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 855,352 shares of the life sciences company’s stock valued at $24,925,000 after acquiring an additional 335,557 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Integra LifeSciences by 90.9% in the 2nd quarter. AQR Capital Management LLC now owns 611,798 shares of the life sciences company’s stock valued at $17,436,000 after acquiring an additional 291,326 shares during the last quarter. Hedge funds and other institutional investors own 84.78% of the company’s stock.

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.