Integra Lifesciences (NASDAQ:IART) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Integra LifeSciences has underperformed its industry over the past six months. Significant gross margin contractions caused by escalating costs have been a major headwind for the company in the last reported quarter. A tough competitive landscape adds to the woes. On a positive note, solid growth across all business segments has been the key growth catalyst. Integra LifeSciences’ successful progress with its channel expansion strategy and Codman integration buoy optimism. Notably, the company announced plans within Orthopedics and Tissue Technologies segment to expand its sales channel, improve focus and competitiveness and better align the company’s product portfolio with clinical customers. Moreover, the strong investments in research and development is encouraging. However, the company’s reduced 2018 revenue guidance fails to instill confidence in the stock.”
A number of other equities analysts have also weighed in on the stock. BidaskClub lowered shares of Integra Lifesciences from a “buy” rating to a “hold” rating in a research report on Tuesday. UBS Group started coverage on shares of Integra Lifesciences in a research report on Tuesday, November 27th. They issued a “neutral” rating and a $58.00 price objective for the company. Citigroup cut their price objective on shares of Integra Lifesciences from $66.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, November 2nd. JMP Securities cut their price objective on shares of Integra Lifesciences from $66.00 to $62.00 and set a “market outperform” rating for the company in a research report on Friday, November 2nd. Finally, Wells Fargo & Co cut their price objective on shares of Integra Lifesciences from $61.00 to $55.00 and set a “market perform” rating for the company in a research report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $61.62.
Integra Lifesciences (NASDAQ:IART) last issued its earnings results on Wednesday, October 31st. The life sciences company reported $0.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.59. The firm had revenue of $365.85 million during the quarter, compared to analyst estimates of $367.89 million. Integra Lifesciences had a net margin of 5.49% and a return on equity of 16.99%. The company’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the business earned $0.45 earnings per share. Analysts predict that Integra Lifesciences will post 2.39 EPS for the current fiscal year.
In related news, major shareholder Richard E. Caruso sold 46,676 shares of the firm’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $63.19, for a total value of $2,949,456.44. Following the sale, the insider now directly owns 134,134 shares of the company’s stock, valued at $8,475,927.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barbara B. Hill bought 3,705 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was bought at an average cost of $53.90 per share, for a total transaction of $199,699.50. Following the completion of the purchase, the director now directly owns 63,381 shares of the company’s stock, valued at $3,416,235.90. The disclosure for this purchase can be found here. 5.10% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in IART. Bank of Montreal Can boosted its stake in Integra Lifesciences by 55.8% in the second quarter. Bank of Montreal Can now owns 16,018 shares of the life sciences company’s stock valued at $1,031,000 after acquiring an additional 5,739 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Integra Lifesciences by 54.0% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,418 shares of the life sciences company’s stock valued at $478,000 after acquiring an additional 2,600 shares during the period. New Mexico Educational Retirement Board acquired a new position in Integra Lifesciences in the second quarter valued at approximately $1,063,000. First Trust Advisors LP acquired a new position in Integra Lifesciences in the second quarter valued at approximately $4,386,000. Finally, Public Employees Retirement Association of Colorado boosted its stake in Integra Lifesciences by 24.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 13,700 shares of the life sciences company’s stock valued at $882,000 after acquiring an additional 2,687 shares during the period. 85.94% of the stock is currently owned by institutional investors and hedge funds.
About Integra Lifesciences
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.
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