Integra LifeSciences Holdings Corporation (IART) Shares Gap Down Following Weak Earnings

Integra LifeSciences Holdings Corporation (NASDAQ:IART) gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $48.07, but opened at $47.56. Integra LifeSciences Holdings Corporation shares last traded at $45.92, with a volume of 1,579,131 shares.

The life sciences company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Integra LifeSciences Holdings Corporation had a return on equity of 16.59% and a net margin of 4.52%. The firm had revenue of $278.83 million during the quarter, compared to analyst estimates of $286.00 million. During the same period in the previous year, the company earned $0.93 EPS. Integra LifeSciences Holdings Corporation’s revenue for the quarter was up 11.4% on a year-over-year basis.

A number of equities analysts have issued reports on IART shares. Zacks Investment Research raised Integra LifeSciences Holdings Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Tuesday, October 3rd. Barclays PLC reiterated an “equal weight” rating and issued a $53.00 price target (up previously from $47.00) on shares of Integra LifeSciences Holdings Corporation in a research report on Tuesday, September 12th. Jefferies Group LLC reiterated a “buy” rating on shares of Integra LifeSciences Holdings Corporation in a research report on Sunday, September 10th. BidaskClub lowered Integra LifeSciences Holdings Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $60.00 price target on shares of Integra LifeSciences Holdings Corporation in a research report on Monday, September 18th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $53.42.

In other Integra LifeSciences Holdings Corporation news, Director Barbara B. Hill bought 5,050 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were bought at an average price of $49.33 per share, for a total transaction of $249,116.50. Following the transaction, the director now directly owns 44,772 shares in the company, valued at $2,208,602.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donald E. Morel, Jr. bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average price of $49.25 per share, for a total transaction of $492,500.00. Following the transaction, the director now owns 29,612 shares in the company, valued at $1,458,391. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 17,550 shares of company stock worth $864,842. 21.50% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Eagle Asset Management Inc. boosted its position in shares of Integra LifeSciences Holdings Corporation by 39.0% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,647,018 shares of the life sciences company’s stock valued at $89,778,000 after purchasing an additional 461,977 shares in the last quarter. Strs Ohio boosted its position in shares of Integra LifeSciences Holdings Corporation by 60.4% during the 2nd quarter. Strs Ohio now owns 7,700 shares of the life sciences company’s stock valued at $419,000 after purchasing an additional 2,900 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Integra LifeSciences Holdings Corporation by 116.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 244,982 shares of the life sciences company’s stock valued at $10,322,000 after purchasing an additional 131,995 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Integra LifeSciences Holdings Corporation by 12.3% during the 2nd quarter. Jennison Associates LLC now owns 697,772 shares of the life sciences company’s stock valued at $38,036,000 after purchasing an additional 76,548 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Integra LifeSciences Holdings Corporation by 80.1% in the second quarter. State of Alaska Department of Revenue now owns 11,939 shares of the life sciences company’s stock worth $650,000 after acquiring an additional 5,309 shares in the last quarter. Institutional investors own 84.90% of the company’s stock.

The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 56.49 and a beta of 0.71. The stock has a 50-day moving average of $50.64 and a 200 day moving average of $49.97.

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About Integra LifeSciences Holdings Corporation

Integra LifeSciences Holdings Corporation is a medical technology company. The Company focuses on the development, manufacturing, and marketing of surgical implants and medical instruments. Its segments include Specialty Surgical Solutions, which offers specialty surgical instrumentation for a range of specialties, including product portfolio used in the neurosurgery operating suite and critical care unit, and Orthopedics and Tissue Technologies, which includes differentiated soft tissue repair and tissue regeneration products, and small bone fixation and joint replacement solutions.

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