Integra Lifesciences (NASDAQ:IART)‘s stock had its “buy” rating reiterated by equities researchers at BTIG Research in a report released on Thursday. They presently have a $69.00 price objective on the life sciences company’s stock. BTIG Research’s price target would indicate a potential upside of 14.73% from the stock’s previous close.
The analysts wrote, “We hosted investor meetings with mgmt. of IART which included President & CEO for multiple days of meetings in the Midwest. Investors were interested in understanding a variety of topics, including the Codman integration, wound, nerve, and dural repair market dynamics, OTT channel changes, as well as other areas of the business. We came away with a clearer picture of IART’s progression toward a higher growth company driven by sales force productivity improvements, product registrations OUS, and a growing pipeline from Codman (a previously underfunded asset). The Street may not be as focused on much of the back-office work that has taken place at IART over FY18 but mgmt. was confident in their ability to meet FY18 organic revenue growth guidance (~5%) and grow above that in FY19 and beyond. Our incremental takeaways are below.””
A number of other equities analysts have also recently commented on the stock. BidaskClub raised shares of Integra Lifesciences from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Bank of America cut shares of Integra Lifesciences from a “neutral” rating to an “underperform” rating in a research report on Tuesday, August 7th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Integra Lifesciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Oppenheimer reaffirmed a “buy” rating on shares of Integra Lifesciences in a research report on Friday, August 17th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $59.00 price objective on shares of Integra Lifesciences in a research report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $61.38.
Integra Lifesciences (NASDAQ:IART) last released its quarterly earnings data on Wednesday, July 25th. The life sciences company reported $0.60 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.60. Integra Lifesciences had a net margin of 5.10% and a return on equity of 17.43%. The firm had revenue of $366.20 million during the quarter, compared to analysts’ expectations of $368.08 million. During the same period in the previous year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Integra Lifesciences will post 2.4 earnings per share for the current fiscal year.
In related news, Director Stuart Essig sold 69,871 shares of the business’s stock in a transaction dated Tuesday, July 24th. The stock was sold at an average price of $63.54, for a total value of $4,439,603.34. Following the completion of the transaction, the director now owns 1,438,367 shares of the company’s stock, valued at $91,393,839.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Glenn Coleman sold 8,916 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $63.00, for a total value of $561,708.00. Following the completion of the transaction, the vice president now directly owns 16,795 shares of the company’s stock, valued at approximately $1,058,085. The disclosure for this sale can be found here. Insiders have sold 111,140 shares of company stock valued at $7,054,647 in the last three months. Insiders own 5.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of IART. FMR LLC raised its stake in Integra Lifesciences by 11.8% in the second quarter. FMR LLC now owns 11,078,120 shares of the life sciences company’s stock valued at $713,542,000 after purchasing an additional 1,166,483 shares in the last quarter. Millennium Management LLC acquired a new position in Integra Lifesciences in the second quarter valued at about $46,263,000. Janus Henderson Group PLC raised its stake in Integra Lifesciences by 22.8% in the second quarter. Janus Henderson Group PLC now owns 1,966,341 shares of the life sciences company’s stock valued at $126,652,000 after purchasing an additional 365,254 shares in the last quarter. Castleark Management LLC acquired a new position in Integra Lifesciences in the second quarter valued at about $18,130,000. Finally, Paloma Partners Management Co acquired a new position in Integra Lifesciences in the second quarter valued at about $12,012,000. 84.41% of the stock is owned by institutional investors and hedge funds.
Integra Lifesciences Company Profile
Integra LifeSciences Holdings Corporation develops, manufactures, and markets surgical implants and medical instruments for use in neurosurgery, extremity reconstruction, orthopedics, and general surgery. The company operates in two segments, Codman Specialty Surgical, and Orthopedics and Tissue Technologies.
See Also: Return on Investment (ROI)
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