Integra LifeSciences (NASDAQ:IART) Shares Gap Up After Better-Than-Expected Earnings

Integra LifeSciences Holdings Co. (NASDAQ:IART)’s share price gapped up prior to trading on Monday following a stronger than expected earnings report. The stock had previously closed at $19.28, but opened at $22.00. Integra LifeSciences shares last traded at $23.30, with a volume of 340,208 shares trading hands.

The life sciences company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Integra LifeSciences had a net margin of 1.51% and a return on equity of 14.07%. The business had revenue of $380.80 million during the quarter, compared to the consensus estimate of $375.81 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis.

Analyst Ratings Changes

IART has been the topic of several recent research reports. Bank of America reduced their price target on Integra LifeSciences from $26.00 to $18.00 and set an “underperform” rating on the stock in a research report on Monday, October 7th. JMP Securities cut their target price 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. Morgan Stanley upped 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. Truist Financial dropped their price target on shares of Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Finally, Citigroup boosted their price objective on shares of Integra LifeSciences from $16.00 to $22.00 and gave the company a “sell” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Integra LifeSciences has a consensus rating of “Hold” and an average target price of $27.25.

Institutional Investors Weigh In On Integra LifeSciences

Several institutional investors and hedge funds have recently modified their holdings of IART. Blue Trust Inc. increased its position in shares of Integra LifeSciences by 100.5% during the second quarter. Blue Trust Inc. now owns 886 shares of the life sciences company’s stock valued at $26,000 after buying an additional 444 shares during the period. CWM LLC raised its position in shares of Integra LifeSciences by 50.8% in the 2nd quarter. CWM LLC now owns 1,262 shares of the life sciences company’s stock worth $37,000 after acquiring an additional 425 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Integra LifeSciences in the 2nd quarter valued at approximately $114,000. Northwest Investment Counselors LLC bought a new stake in shares of Integra LifeSciences during the third quarter valued at approximately $73,000. Finally, EntryPoint Capital LLC grew its stake in Integra LifeSciences by 191.0% in the first quarter. EntryPoint Capital LLC now owns 4,580 shares of the life sciences company’s stock worth $162,000 after purchasing an additional 3,006 shares during the period. 84.78% of the stock is owned by hedge funds and other institutional investors.

Integra LifeSciences Stock Performance

The company has a quick ratio of 2.10, a current ratio of 3.39 and a debt-to-equity ratio of 1.17. The firm has a market cap of $1.93 billion, a P/E ratio of 85.90, a P/E/G ratio of 0.66 and a beta of 1.08. The business has a fifty day simple moving average of $18.68 and a 200-day simple moving average of $24.41.

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.