Integra LifeSciences (IART) Downgraded to “Sell” at Zacks Investment Research
Zacks Investment Research downgraded shares of Integra LifeSciences (NASDAQ:IART) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.
According to Zacks, “Integra LifeSciences exited the third quarter of 2017 on a disappointing note with earnings and revenues both missing the respective Zacks Consensus Estimate. Also, contraction in adjusted operating margin and adjusted gross margin adds to the woes. Also the company’s decision to sell its certain neurosurgery assets to Natus Medical may hamper its business in near term. However, the strong year-over-year increase in revenues on the back of strong growth within Orthopedics and Tissue Technologies segment buoys optimism. Raised full-year revenue guidance is indicative of this bullish trend to remain. We are happy with the fact that, the company is efficiently executing its growth plan through an efficient management team. However, the slashed full-year adjusted earnings range remains a concern. Overall, over the last six months, Integra Lifesciences has been trading slightly above the broader industry.”
Several other analysts have also recently commented on IART. UBS reiterated a buy rating and issued a $57.00 price objective on shares of Integra LifeSciences in a research note on Tuesday, October 31st. Jefferies Group reiterated a buy rating and issued a $56.00 price objective on shares of Integra LifeSciences in a research note on Sunday, October 29th. Wells Fargo & Company cut shares of Integra LifeSciences from an outperform rating to a market perform rating in a research note on Sunday, October 29th. Oppenheimer reiterated a buy rating on shares of Integra LifeSciences in a research note on Thursday, October 26th. Finally, Royal Bank of Canada restated a sector perform rating and set a $50.00 target price (up from $48.00) on shares of Integra LifeSciences in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Integra LifeSciences has an average rating of Hold and a consensus target price of $53.64.
Integra LifeSciences (NASDAQ IART) traded up $0.99 during mid-day trading on Wednesday, hitting $50.01. 675,200 shares of the stock traded hands, compared to its average volume of 594,125. Integra LifeSciences has a one year low of $40.51 and a one year high of $56.42. The firm has a market cap of $3,846.96, a PE ratio of 27.08, a PEG ratio of 2.16 and a beta of 0.65. The company has a debt-to-equity ratio of 1.26, a current ratio of 4.49 and a quick ratio of 3.39.
Integra LifeSciences (NASDAQ:IART) last released its earnings results on Thursday, October 26th. The life sciences company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.02). Integra LifeSciences had a return on equity of 16.35% and a net margin of 4.52%. The firm had revenue of $278.83 million during the quarter, compared to analyst estimates of $286.00 million. During the same quarter last year, the business posted $0.93 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. equities research analysts forecast that Integra LifeSciences will post 1.84 earnings per share for the current year.
In related news, VP Richard D. Gorelick sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $47.19, for a total value of $70,785.00. Following the sale, the vice president now directly owns 21,665 shares of the company’s stock, valued at $1,022,371.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barbara B. Hill bought 10,768 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was bought at an average cost of $46.66 per share, for a total transaction of $502,434.88. Following the completion of the transaction, the director now directly owns 55,540 shares of the company’s stock, valued at approximately $2,591,496.40. The disclosure for this purchase can be found here. 21.50% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. lifted its position in Integra LifeSciences by 2.2% during the second quarter. Pinebridge Investments L.P. now owns 7,971 shares of the life sciences company’s stock valued at $435,000 after buying an additional 174 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Integra LifeSciences by 3.6% during the second quarter. Ameritas Investment Partners Inc. now owns 5,409 shares of the life sciences company’s stock worth $295,000 after purchasing an additional 187 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Integra LifeSciences by 8.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,752 shares of the life sciences company’s stock worth $150,000 after purchasing an additional 218 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Integra LifeSciences by 0.5% during the second quarter. Public Employees Retirement System of Ohio now owns 55,635 shares of the life sciences company’s stock worth $3,033,000 after purchasing an additional 300 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Integra LifeSciences by 6.4% during the second quarter. Pacer Advisors Inc. now owns 6,236 shares of the life sciences company’s stock worth $340,000 after purchasing an additional 376 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.
About Integra LifeSciences
Integra LifeSciences Holdings Corporation is a medical technology company. The Company focuses on the development, manufacturing, and marketing of surgical implants and medical instruments. Its segments include Specialty Surgical Solutions, which offers specialty surgical instrumentation for a range of specialties, including product portfolio used in the neurosurgery operating suite and critical care unit, and Orthopedics and Tissue Technologies, which includes differentiated soft tissue repair and tissue regeneration products, and small bone fixation and joint replacement solutions.
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