Integra Lifesciences’ (IART) “Buy” Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group reissued their buy rating on shares of Integra Lifesciences (NASDAQ:IART) in a report published on Friday, AnalystRatings.com reports. They currently have a $58.00 price objective on the life sciences company’s stock.

IART has been the subject of several other reports. Zacks Investment Research raised Integra Lifesciences from a sell rating to a hold rating and set a $54.00 price objective for the company in a report on Friday, May 1st. Piper Sandler reaffirmed a hold rating and issued a $58.00 price objective on shares of Integra Lifesciences in a report on Tuesday, April 7th. BTIG Research reaffirmed a buy rating on shares of Integra Lifesciences in a report on Thursday, May 7th. BidaskClub cut Integra Lifesciences from a hold rating to a sell rating in a report on Thursday, June 11th. Finally, Wells Fargo & Co lowered their price target on Integra Lifesciences from $62.00 to $46.00 and set an equal weight rating for the company in a report on Monday, April 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $57.67.

IART opened at $45.60 on Friday. The business has a fifty day simple moving average of $50.04 and a 200 day simple moving average of $52.02. The company has a market capitalization of $3.95 billion, a PE ratio of 147.10, a price-to-earnings-growth ratio of 2.99 and a beta of 1.10. Integra Lifesciences has a 1 year low of $34.21 and a 1 year high of $65.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 4.09 and a quick ratio of 2.72.

Integra Lifesciences (NASDAQ:IART) last released its quarterly earnings results on Thursday, May 7th. The life sciences company reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.15). The firm had revenue of $354.30 million during the quarter, compared to the consensus estimate of $353.15 million. Integra Lifesciences had a net margin of 1.76% and a return on equity of 15.98%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 earnings per share. Equities analysts anticipate that Integra Lifesciences will post 1.72 earnings per share for the current fiscal year.

In related news, Director Stuart Essig sold 2,087 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $52.07, for a total transaction of $108,670.09. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Richard E. Caruso sold 600,000 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $48.47, for a total value of $29,082,000.00. Following the sale, the insider now owns 163,668 shares in the company, valued at approximately $7,932,987.96. The disclosure for this sale can be found here. Insiders have sold a total of 663,995 shares of company stock worth $32,428,706 in the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans grew its position in shares of Integra Lifesciences by 1.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 18,622 shares of the life sciences company’s stock valued at $1,085,000 after buying an additional 190 shares during the last quarter. Advisor Group Inc. grew its position in shares of Integra Lifesciences by 0.7% in the 4th quarter. Advisor Group Inc. now owns 33,610 shares of the life sciences company’s stock valued at $1,960,000 after buying an additional 243 shares during the last quarter. Comerica Bank grew its position in shares of Integra Lifesciences by 1.0% in the 4th quarter. Comerica Bank now owns 44,256 shares of the life sciences company’s stock valued at $2,437,000 after buying an additional 423 shares during the last quarter. Synovus Financial Corp grew its position in shares of Integra Lifesciences by 5.6% in the 1st quarter. Synovus Financial Corp now owns 8,501 shares of the life sciences company’s stock valued at $377,000 after buying an additional 454 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Integra Lifesciences by 0.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 91,212 shares of the life sciences company’s stock valued at $4,074,000 after buying an additional 535 shares during the last quarter. Institutional investors and hedge funds own 83.82% of the company’s stock.

Integra Lifesciences Company Profile

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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Analyst Recommendations for Integra Lifesciences (NASDAQ:IART)

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