Integra Lifesciences (IART) Shares Gap Down After Analyst Downgrade

Integra Lifesciences Holdings Corp (NASDAQ:IART)’s share price gapped down before the market opened on Thursday after Citigroup lowered their price target on the stock from $66.00 to $60.00. The stock had previously closed at $52.64, but opened at $53.57. Citigroup currently has a neutral rating on the stock. Integra Lifesciences shares last traded at $54.35, with a volume of 25497 shares trading hands.

A number of other equities analysts also recently issued reports on IART. Zacks Investment Research downgraded shares of Integra Lifesciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. BidaskClub downgraded shares of Integra Lifesciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Oppenheimer reiterated a “buy” rating and set a $74.00 price objective on shares of Integra Lifesciences in a research note on Wednesday, July 25th. Cantor Fitzgerald reiterated a “hold” rating and set a $59.00 price objective on shares of Integra Lifesciences in a research note on Wednesday, July 25th. Finally, BTIG Research upgraded shares of Integra Lifesciences from a “neutral” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. Integra Lifesciences presently has an average rating of “Hold” and an average target price of $61.00.

In other Integra Lifesciences 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 completion of the sale, the insider now directly owns 134,134 shares in the company, valued at $8,475,927.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey Mosebrook sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $62.42, for a total transaction of $62,420.00. Following the completion of the sale, the insider now owns 3,085 shares of the company’s stock, valued at $192,565.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,592 shares of company stock valued at $3,573,584. 5.10% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in IART. Jane Street Group LLC acquired a new stake in Integra Lifesciences in the first quarter valued at approximately $403,000. LPL Financial LLC boosted its stake in Integra Lifesciences by 28.6% in the first quarter. LPL Financial LLC now owns 6,840 shares of the life sciences company’s stock valued at $376,000 after acquiring an additional 1,523 shares in the last quarter. Legal & General Group Plc boosted its stake in Integra Lifesciences by 4.9% in the first quarter. Legal & General Group Plc now owns 134,162 shares of the life sciences company’s stock valued at $7,397,000 after acquiring an additional 6,235 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in Integra Lifesciences by 41.5% in the first quarter. Xact Kapitalforvaltning AB now owns 9,202 shares of the life sciences company’s stock valued at $509,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Integra Lifesciences by 2.1% in the first quarter. Principal Financial Group Inc. now owns 494,735 shares of the life sciences company’s stock worth $27,379,000 after buying an additional 10,388 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

The firm has a market capitalization of $5.31 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.92 and a beta of 0.57. The company has a current ratio of 3.52, a quick ratio of 2.27 and a debt-to-equity ratio of 1.10.

Integra Lifesciences (NASDAQ:IART) last posted its quarterly earnings results on Wednesday, October 31st. The life sciences company reported $0.59 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.59. The business had revenue of $365.85 million during the quarter, compared to analysts’ expectations of $367.89 million. Integra Lifesciences had a net margin of 5.10% and a return on equity of 17.43%. The business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the company posted $0.45 earnings per share. Analysts predict that Integra Lifesciences Holdings Corp will post 2.4 earnings per share for the current fiscal year.

Integra Lifesciences Company Profile (NASDAQ:IART)

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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