Integra LifeSciences Holdings Co. (NASDAQ:IART) Position Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in Integra LifeSciences Holdings Co. (NASDAQ:IART) by 19.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 86,630 shares of the life sciences company’s stock after selling 20,279 shares during the quarter. JPMorgan Chase & Co.’s holdings in Integra LifeSciences were worth $1,574,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in IART. Dimensional Fund Advisors LP lifted its stake in Integra LifeSciences by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,785,009 shares of the life sciences company’s stock valued at $52,014,000 after buying an additional 12,766 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Integra LifeSciences in the second quarter worth about $114,000. Thrivent Financial for Lutherans lifted its holdings in Integra LifeSciences by 233.9% in the second quarter. Thrivent Financial for Lutherans now owns 56,912 shares of the life sciences company’s stock worth $1,658,000 after purchasing an additional 39,868 shares during the period. Public Sector Pension Investment Board acquired a new stake in Integra LifeSciences in the second quarter worth about $4,395,000. Finally, AXA S.A. boosted its holdings in shares of Integra LifeSciences by 409.1% in the second quarter. AXA S.A. now owns 96,689 shares of the life sciences company’s stock valued at $2,818,000 after acquiring an additional 77,697 shares in the last quarter. 84.78% of the stock is currently owned by institutional investors.

Integra LifeSciences Stock Performance

Shares of IART opened at $25.60 on Friday. The company’s fifty day moving average is $23.26 and its 200-day moving average is $22.39. Integra LifeSciences Holdings Co. has a 12 month low of $16.81 and a 12 month high of $45.42. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -284.41, a price-to-earnings-growth ratio of 0.84 and a beta of 1.16. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.79.

Integra LifeSciences (NASDAQ:IART) last posted its earnings results on Monday, November 4th. The life sciences company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Integra LifeSciences had a negative net margin of 0.42% and a positive return on equity of 12.35%. The business had revenue of $380.80 million for the quarter, compared to analyst estimates of $375.81 million. During the same period last year, the business posted $0.76 EPS. Integra LifeSciences’s revenue was down .4% compared to the same quarter last year. Equities analysts expect that Integra LifeSciences Holdings Co. will post 2.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IART shares. Truist Financial decreased their price objective on shares of Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating for the company in a report on Monday, October 14th. Morgan Stanley started coverage on shares of Integra LifeSciences in a research note on Monday, December 2nd. They set an “underweight” rating and a $20.00 target price for the company. Bank of America cut their target price on shares of Integra LifeSciences from $26.00 to $18.00 and set an “underperform” rating for the company in a research note on Monday, October 7th. Citigroup upped their price target on shares of Integra LifeSciences from $16.00 to $22.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. Finally, BTIG Research upgraded shares of Integra LifeSciences from a “sell” rating to a “neutral” rating in a research report on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.00.

Insider Activity at Integra LifeSciences

In other Integra LifeSciences news, EVP Michael J. Mcbreen sold 1,700 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $24.16, for a total value of $41,072.00. Following the sale, the executive vice president now directly owns 56,182 shares in the company, valued at $1,357,357.12. This trade represents a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.10% of the stock is currently owned by company insiders.

Integra LifeSciences Company Profile

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.