Integra LifeSciences (NASDAQ:IART) PT Lowered to $16.00 at Citigroup

Integra LifeSciences (NASDAQ:IART) had its price target reduced by Citigroup from $20.00 to $16.00 in a report published on Tuesday, Benzinga reports. They currently have a sell rating on the life sciences company’s stock.

A number of other research firms also recently weighed in on IART. JMP Securities reduced 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. Truist Financial reduced their target price on shares of Integra LifeSciences from $32.00 to $26.00 and set a hold 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. Finally, BTIG Research cut their price target on shares of Integra LifeSciences from $22.00 to $20.00 and set a sell rating on the stock in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Integra LifeSciences has a consensus rating of Hold and an average price target of $28.13.

Integra LifeSciences Stock Performance

Shares of NASDAQ IART opened at $16.95 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. The company has a market cap of $1.34 billion, a P/E ratio of 33.90, a P/E/G ratio of 0.60 and a beta of 1.09. The firm’s fifty day moving average is $20.50 and its two-hundred day moving average is $26.83. Integra LifeSciences has a 52-week low of $16.81 and a 52-week high of $45.42.

Integra LifeSciences (NASDAQ:IART) last posted its earnings results on Monday, July 29th. The life sciences company reported $0.63 earnings per share 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 the consensus estimate of $413.07 million. During the same period in the previous year, the firm posted $0.71 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, 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 added to or reduced their stakes in IART. Capital Research Global Investors grew its stake in Integra LifeSciences by 37.7% in 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 acquiring an additional 1,621,655 shares in the last quarter. Boston Partners bought a new position in Integra LifeSciences in the 1st quarter worth about $19,383,000. Cooke & Bieler LP grew its stake in Integra LifeSciences by 12.4% in the 2nd quarter. Cooke & Bieler LP now owns 3,514,281 shares of the life sciences company’s stock worth $102,406,000 after acquiring an additional 388,710 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in Integra LifeSciences by 64.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 855,352 shares of the life sciences company’s stock worth $24,925,000 after acquiring an additional 335,557 shares in the last quarter. Finally, Systematic Financial Management LP grew its stake in Integra LifeSciences by 540.6% in the 2nd quarter. Systematic Financial Management LP now owns 397,474 shares of the life sciences company’s stock worth $11,582,000 after acquiring an additional 335,424 shares in 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.