Brokerages Set Integra LifeSciences Holdings Co. (NASDAQ:IART) Target Price at $23.00

Shares of Integra LifeSciences Holdings Co. (NASDAQ:IART) have earned a consensus recommendation of “Reduce” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $23.00.

IART has been the subject of several recent research reports. Bank of America reduced their target price on shares of Integra LifeSciences from $26.00 to $18.00 and set an “underperform” rating for the company in a report on Monday, October 7th. BTIG Research upgraded Integra LifeSciences from a “sell” rating to a “neutral” rating in a research note on Monday, October 7th. Citigroup raised 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. Truist Financial reduced their price target on Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating for the company in a report on Monday, October 14th. Finally, Morgan Stanley started coverage on Integra LifeSciences in a research note on Monday, December 2nd. They set an “underweight” rating and a $20.00 target price for the company.

Insider Activity

In other Integra LifeSciences news, EVP Michael J. Mcbreen sold 1,700 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $24.16, for a total value of $41,072.00. Following the sale, the executive vice president now owns 56,182 shares of the company’s stock, valued at $1,357,357.12. The trade was a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Integra LifeSciences

Institutional investors have recently bought and sold shares of the company. Sachem Head Capital Management LP acquired a new position in shares of Integra LifeSciences in the third quarter valued at approximately $44,153,000. Glenmede Trust Co. NA grew its stake in shares of Integra LifeSciences by 125.9% in the third quarter. Glenmede Trust Co. NA now owns 727,781 shares of the life sciences company’s stock worth $13,224,000 after acquiring an additional 405,624 shares in the last quarter. Cooke & Bieler LP increased its position 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 worth $102,406,000 after acquiring an additional 388,710 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Integra LifeSciences by 64.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 855,352 shares of the life sciences company’s stock valued at $24,925,000 after acquiring an additional 335,557 shares in the last quarter. Finally, Systematic Financial Management LP boosted its holdings 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 valued at $11,582,000 after purchasing an additional 335,424 shares during the period. 84.78% of the stock is owned by institutional investors and hedge funds.

Integra LifeSciences Stock Up 0.7 %

IART stock opened at $23.17 on Wednesday. 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 has a 52 week low of $16.81 and a 52 week high of $45.42. The stock has a market capitalization of $1.79 billion, a PE ratio of -257.42, a price-to-earnings-growth ratio of 0.82 and a beta of 1.15. The firm has a 50 day moving average of $23.17 and a 200 day moving average of $22.96.

Integra LifeSciences (NASDAQ:IART) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Integra LifeSciences had a positive return on equity of 12.35% and a negative net margin of 0.42%. The company had revenue of $380.80 million during the quarter, compared to analysts’ expectations of $375.81 million. During the same quarter in the previous year, the firm posted $0.76 EPS. The firm’s revenue was down .4% compared to the same quarter last year. Sell-side analysts forecast that Integra LifeSciences will post 2.45 earnings per share for the current year.

About Integra LifeSciences

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.