Integra LifeSciences (NASDAQ:IART) Price Target Raised to $28.00

Integra LifeSciences (NASDAQ:IART) had its price objective lifted by Citigroup from $24.00 to $28.00 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the life sciences company’s stock.

A number of other brokerages have also recently commented on IART. StockNews.com cut Integra LifeSciences from a buy rating to a hold rating in a research note on Monday, May 13th. Oppenheimer lowered Integra LifeSciences from an outperform rating to a market perform rating in a research report on Tuesday, May 7th. JMP Securities lowered their price objective on shares of Integra LifeSciences from $49.00 to $40.00 and set a market outperform rating for the company in a research report on Tuesday, May 7th. Bank of America reduced their target price on shares of Integra LifeSciences from $42.00 to $26.00 and set an underperform rating on the stock in a research report on Tuesday, May 7th. Finally, Truist Financial lowered their price target on shares of Integra LifeSciences from $37.00 to $25.00 and set a hold rating for the company in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Integra LifeSciences currently has an average rating of Hold and a consensus target price of $35.00.

Integra LifeSciences Trading Down 0.7 %

Shares of IART opened at $28.31 on Wednesday. The stock’s fifty day simple moving average is $30.53 and its 200 day simple moving average is $37.35. Integra LifeSciences has a twelve month low of $22.36 and a twelve month high of $46.75. The company has a current ratio of 4.68, a quick ratio of 3.35 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $2.23 billion, a P/E ratio of 56.62, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

Integra LifeSciences (NASDAQ:IART) last posted its quarterly earnings results on Monday, May 6th. The life sciences company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Integra LifeSciences had a net margin of 2.63% and a return on equity of 14.27%. The firm had revenue of $368.90 million for the quarter, compared to analyst estimates of $361.96 million. During the same quarter last year, the firm posted $0.74 earnings per share. Integra LifeSciences’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts forecast that Integra LifeSciences will post 3.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman Stuart Essig bought 52,641 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average price of $28.49 per share, for a total transaction of $1,499,742.09. Following the purchase, the chairman now owns 487,922 shares in the company, valued at approximately $13,900,897.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Integra LifeSciences

Several institutional investors and hedge funds have recently made changes to their positions in IART. Signaturefd LLC increased its stake in Integra LifeSciences by 248.5% during the fourth quarter. Signaturefd LLC now owns 582 shares of the life sciences company’s stock valued at $25,000 after purchasing an additional 415 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Integra LifeSciences by 123.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 670 shares of the life sciences company’s stock valued at $29,000 after buying an additional 370 shares during the period. Gladius Capital Management LP bought a new stake in shares of Integra LifeSciences during the 3rd quarter valued at about $47,000. Valley National Advisers Inc. acquired a new stake in Integra LifeSciences during the first quarter worth about $63,000. Finally, Covestor Ltd lifted its holdings in Integra LifeSciences by 82.5% in the third quarter. Covestor Ltd now owns 2,037 shares of the life sciences company’s stock worth $78,000 after acquiring an additional 921 shares during the last quarter. 84.78% of the stock is owned by institutional investors and hedge funds.

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.