Integra LifeSciences (NASDAQ:IART) Shares Down 2.9% – Here’s What Happened

Integra LifeSciences Holdings Co. (NASDAQ:IART) fell 2.9% on Wednesday . The company traded as low as $22.04 and last traded at $21.97. 61,191 shares traded hands during trading, a decline of 94% from the average session volume of 999,725 shares. The stock had previously closed at $22.62.

Analysts Set New Price Targets

Separately, Morgan Stanley began coverage on Integra LifeSciences in a research note on Monday, December 2nd. They set an “underweight” rating and a $20.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.00.

Integra LifeSciences Trading Down 1.2 %

The company has a 50 day moving average price of $23.82 and a 200 day moving average price of $22.01. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -248.38, a price-to-earnings-growth ratio of 0.73 and a beta of 1.23. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.73 and a current ratio of 1.20.

Integra LifeSciences (NASDAQ:IART) last announced its quarterly earnings results on Tuesday, February 25th. The life sciences company reported $0.97 EPS for the quarter, beating 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 analyst estimates of $445.15 million. During the same quarter in the prior year, the company posted $0.89 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, research analysts expect that Integra LifeSciences Holdings Co. will post 2.45 earnings per share for the current year.

Hedge Funds Weigh In On Integra LifeSciences

Several hedge funds have recently bought and sold shares of IART. Sachem Head Capital Management LP acquired a new position in Integra LifeSciences during the 3rd quarter worth about $44,153,000. Soleus Capital Management L.P. acquired a new position in Integra LifeSciences during the 4th quarter worth about $28,940,000. Paradigm Capital Management Inc. NY lifted its stake in Integra LifeSciences by 170.3% during 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 in the last quarter. Lord Abbett & CO. LLC lifted its stake in Integra LifeSciences by 86.8% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,332,031 shares of the life sciences company’s stock worth $30,210,000 after acquiring an additional 618,773 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in Integra LifeSciences by 125.9% during the 3rd 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. Institutional investors and hedge funds own 84.78% of the company’s stock.

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.