Integra LifeSciences (NASDAQ:IART) Lowered to “Sell” at Citigroup

Citigroup downgraded shares of Integra LifeSciences (NASDAQ:IART) from a neutral rating to a sell rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage currently has $23.00 price target on the life sciences company’s stock, down from their previous price target of $30.00.

A number of other analysts have also recently commented on IART. Bank of America reduced their price target on Integra LifeSciences from $42.00 to $26.00 and set an underperform rating for the company in a research report on Tuesday, May 7th. Wells Fargo & Company cut Integra LifeSciences from an overweight rating to an equal weight rating and cut their target price for the stock from $45.00 to $25.00 in a research report on Tuesday, May 7th. Morgan Stanley increased their target price on Integra LifeSciences from $24.00 to $27.00 and gave the stock an underweight rating in a research report on Monday, July 15th. JMP Securities cut their target price on Integra LifeSciences from $49.00 to $40.00 and set a market outperform rating for the company in a research report on Tuesday, May 7th. Finally, Truist Financial increased their target price on Integra LifeSciences from $25.00 to $32.00 and gave the stock a hold rating in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Integra LifeSciences currently has an average rating of Hold and a consensus price target of $29.25.

Integra LifeSciences Stock Performance

Shares of IART opened at $24.04 on Tuesday. The company has a quick ratio of 3.35, a current ratio of 3.39 and a debt-to-equity ratio of 1.17. The business has a 50-day simple moving average of $29.44 and a two-hundred day simple moving average of $33.27. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 48.08, a PEG ratio of 0.84 and a beta of 1.11. Integra LifeSciences has a 52 week low of $22.36 and a 52 week high of $45.65.

Integra LifeSciences (NASDAQ:IART) last issued its quarterly earnings results on Monday, July 29th. The life sciences company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $418.20 million during the quarter, compared to analysts’ expectations of $413.07 million. Integra LifeSciences had a return on equity of 14.07% and a net margin of 1.51%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 earnings per share. On average, analysts expect that Integra LifeSciences will post 2.47 EPS for the current year.

Insider Activity

In other Integra LifeSciences news, Chairman Stuart Essig purchased 52,641 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $28.49 per share, with a total value of $1,499,742.09. Following the purchase, the chairman now owns 487,922 shares of the company’s stock, valued at $13,900,897.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Integra LifeSciences

A number of institutional investors and hedge funds have recently modified their holdings of IART. Signaturefd LLC increased its holdings in Integra LifeSciences by 248.5% during the 4th quarter. Signaturefd LLC now owns 582 shares of the life sciences company’s stock worth $25,000 after purchasing an additional 415 shares during the period. Blue Trust Inc. increased its holdings in Integra LifeSciences by 100.5% during the 2nd quarter. Blue Trust Inc. now owns 886 shares of the life sciences company’s stock worth $26,000 after purchasing an additional 444 shares during the period. Hexagon Capital Partners LLC increased its holdings in Integra LifeSciences by 123.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 670 shares of the life sciences company’s stock worth $29,000 after purchasing an additional 370 shares during the period. CWM LLC increased its holdings in Integra LifeSciences by 50.8% during the 2nd quarter. CWM LLC now owns 1,262 shares of the life sciences company’s stock worth $37,000 after purchasing an additional 425 shares during the period. Finally, Valley National Advisers Inc. purchased a new position in Integra LifeSciences during the 1st quarter worth $63,000. 84.78% of the stock is 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.