Integra LifeSciences (NASDAQ:IART) PT Raised to $28.00

Integra LifeSciences (NASDAQ:IART) had its target price lifted by Citigroup from $24.00 to $28.00 in a research report report published on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the life sciences company’s stock.

IART has been the topic of several other reports. StockNews.com cut Integra LifeSciences from a buy rating to a hold rating in a research report on Monday, May 13th. Truist Financial decreased their target price on shares of Integra LifeSciences from $37.00 to $25.00 and set a hold rating on the stock in a report on Tuesday, May 7th. Morgan Stanley reduced their price target on shares of Integra LifeSciences from $37.00 to $24.00 and set an underweight rating for the company in a research report on Tuesday, May 7th. JMP Securities lowered their price objective on Integra LifeSciences from $49.00 to $40.00 and set a market outperform rating on the stock in a research report on Tuesday, May 7th. Finally, Wells Fargo & Company cut Integra LifeSciences from an overweight rating to an equal weight rating and reduced their target price for the stock from $45.00 to $25.00 in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Integra LifeSciences currently has an average rating of Hold and an average price target of $35.00.

Integra LifeSciences Stock Performance

Shares of IART stock opened at $28.31 on Wednesday. Integra LifeSciences has a 12 month low of $22.36 and a 12 month high of $46.75. The stock has a market capitalization of $2.23 billion, a P/E ratio of 56.62, a PEG ratio of 1.03 and a beta of 1.17. The company has a current ratio of 4.68, a quick ratio of 3.35 and a debt-to-equity ratio of 1.15. The firm’s 50 day moving average is $30.53 and its 200 day moving average is $37.34.

Integra LifeSciences (NASDAQ:IART) last posted its earnings results on Monday, May 6th. The life sciences company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The firm had revenue of $368.90 million for the quarter, compared to the consensus estimate of $361.96 million. Integra LifeSciences had a return on equity of 14.27% and a net margin of 2.63%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share. On average, sell-side analysts anticipate that Integra LifeSciences will post 3.03 earnings per share for the current year.

Insider Transactions at Integra LifeSciences

In other Integra LifeSciences news, Chairman Stuart Essig purchased 52,641 shares of the stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $28.49 per share, with a total value of $1,499,742.09. Following the transaction, the chairman now directly owns 487,922 shares of the company’s stock, valued at approximately $13,900,897.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its stake in shares of Integra LifeSciences by 0.9% during the 3rd quarter. Swiss National Bank now owns 161,994 shares of the life sciences company’s stock valued at $6,187,000 after purchasing an additional 1,500 shares in the last quarter. Cooke & Bieler LP lifted its holdings in Integra LifeSciences by 4.4% in the fourth quarter. Cooke & Bieler LP now owns 2,834,604 shares of the life sciences company’s stock worth $123,447,000 after buying an additional 120,410 shares during the period. Cardinal Capital Management boosted its position in Integra LifeSciences by 1.6% during the 4th quarter. Cardinal Capital Management now owns 22,101 shares of the life sciences company’s stock valued at $962,000 after acquiring an additional 347 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of Integra LifeSciences during the 3rd quarter worth approximately $43,034,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Integra LifeSciences in the 3rd quarter worth approximately $25,443,000. 84.78% of the stock is owned by hedge funds and other 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.