Integra LifeSciences (NASDAQ:IART) Price Target Lowered to $18.00 at Bank of America

by · The Cerbat Gem

Integra LifeSciences (NASDAQ:IART – Free Report) had its price target reduced by Bank of America from $26.00 to $18.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an underperform rating on the life sciences company’s stock.

IART has been the subject of several other research reports. 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. JMP Securities decreased their price target on shares of Integra LifeSciences from $40.00 to $35.00 and set a market outperform rating for the company in a research report on Tuesday, July 30th. BTIG Research upgraded shares of Integra LifeSciences from a sell rating to a neutral rating in a research note on Monday. Morgan Stanley increased their price target on Integra LifeSciences from $24.00 to $27.00 and gave the company an underweight rating in a report on Monday, July 15th. Finally, Citigroup dropped their target price on shares of Integra LifeSciences from $20.00 to $16.00 and set a sell rating for the company in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $27.13.

Get Our Latest Research Report on Integra LifeSciences

Integra LifeSciences Trading Up 6.5 %

Shares of NASDAQ IART opened at $19.27 on Monday. The stock has a market capitalization of $1.49 billion, a PE ratio of 66.45, a PEG ratio of 0.62 and a beta of 1.09. The stock has a fifty day simple moving average of $19.37 and a 200-day simple moving average of $26.20. Integra LifeSciences has a twelve month low of $16.81 and a twelve month high of $45.42. The company has a current ratio of 3.39, a quick ratio of 2.10 and a debt-to-equity ratio of 1.17.

Integra LifeSciences (NASDAQ:IART – Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The life sciences company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Integra LifeSciences had a return on equity of 14.07% and a net margin of 1.51%. The company had revenue of $418.20 million during the quarter, compared to analysts’ expectations of $413.07 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts forecast that Integra LifeSciences will post 2.45 earnings per share for the current year.

Hedge Funds Weigh In On Integra LifeSciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors raised its stake in shares of Integra LifeSciences by 37.7% during the first quarter. Capital Research Global Investors now owns 5,918,981 shares of the life sciences company’s stock valued at $209,828,000 after purchasing an additional 1,621,655 shares in the last quarter. Boston Partners bought a new position in shares of Integra LifeSciences in the first quarter valued at approximately $19,383,000. Cooke & Bieler LP increased its stake in shares of Integra LifeSciences by 12.4% during the second quarter. Cooke & Bieler LP now owns 3,514,281 shares of the life sciences company’s stock valued at $102,406,000 after acquiring an additional 388,710 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in Integra LifeSciences by 64.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 855,352 shares of the life sciences company’s stock worth $24,925,000 after purchasing an additional 335,557 shares in the last quarter. Finally, Systematic Financial Management LP lifted its position in Integra LifeSciences by 540.6% in the second quarter. Systematic Financial Management LP now owns 397,474 shares of the life sciences company’s stock worth $11,582,000 after purchasing an additional 335,424 shares during the period. 84.78% of the stock is owned by institutional investors.

About Integra LifeSciences

(Get Free Report)

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.

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