Integra LifeSciences (NASDAQ:IART) Reaches New 1-Year Low Following Analyst Downgrade

Integra LifeSciences Holdings Co. (NASDAQ:IART) shares hit a new 52-week low on Saturday after Truist Financial lowered their price target on the stock from $26.00 to $19.00. Truist Financial currently has a hold rating on the stock. Integra LifeSciences traded as low as $15.95 and last traded at $16.99, with a volume of 659615 shares. The stock had previously closed at $17.42.

Separately, Argus raised Integra LifeSciences from a “hold” rating to a “buy” rating in a research note on Monday, March 31st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.71.

Institutional Investors Weigh In On Integra LifeSciences

A number of large investors have recently modified their holdings of the stock. Paradigm Capital Management Inc. NY boosted its holdings in Integra LifeSciences by 170.3% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,431,100 shares of the life sciences company’s stock worth $32,457,000 after acquiring an additional 901,600 shares during the period. Capital Research Global Investors lifted its position in shares of Integra LifeSciences by 7.4% during the fourth quarter. Capital Research Global Investors now owns 1,400,559 shares of the life sciences company’s stock worth $31,765,000 after purchasing an additional 95,944 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Integra LifeSciences by 86.8% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,332,031 shares of the life sciences company’s stock valued at $30,210,000 after purchasing an additional 618,773 shares during the period. Soleus Capital Management L.P. acquired a new stake in Integra LifeSciences during the 4th quarter valued at $28,940,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Integra LifeSciences by 10.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,047,573 shares of the life sciences company’s stock worth $23,759,000 after buying an additional 103,291 shares during the period. Institutional investors and hedge funds own 84.78% of the company’s stock.

Integra LifeSciences Price Performance

The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.73 and a current ratio of 1.20. The business’s fifty day simple moving average is $22.28 and its 200 day simple moving average is $22.31. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -188.76, a price-to-earnings-growth ratio of 0.73 and a beta of 1.24.

Integra LifeSciences (NASDAQ:IART) last released its quarterly earnings results on Tuesday, February 25th. The life sciences company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.85 by $0.12. Integra LifeSciences had a positive return on equity of 12.35% and a negative net margin of 0.42%. The business had revenue of $442.65 million for the quarter, compared to analysts’ expectations of $445.15 million. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The company’s revenue was up 11.5% compared to the same quarter last year. Research analysts predict that Integra LifeSciences Holdings Co. will post 2.45 EPS for the current fiscal 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.