Integra LifeSciences (NASDAQ:IART) Stock Price Crosses Below 50-Day Moving Average – What’s Next?

Integra LifeSciences Holdings Corporation (NASDAQ:IART)’s stock price crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $14.36 and traded as low as $14.13. Integra LifeSciences shares last traded at $14.35, with a volume of 1,071,198 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IART shares. Wells Fargo & Company set a $13.00 price objective on shares of Integra LifeSciences and gave the company an “equal weight” rating in a report on Thursday, October 22nd. Weiss Ratings upgraded Integra LifeSciences from a “sell (e+)” rating to a “sell (d+)” rating in a research note on Monday, October 26th. Truist Financial set a $13.00 price target on Integra LifeSciences and gave the stock a “hold” rating in a research report on Friday, October 23rd. Zacks Research cut Integra LifeSciences from a “hold” rating to a “strong sell” rating in a research report on Monday, October 26th. Finally, JPMorgan Chase & Co. dropped their price target on Integra LifeSciences from $17.00 to $14.00 and set an “underweight” rating on the stock in a research note on Thursday, October 22nd. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $16.12.

Integra LifeSciences Price Performance

The stock’s fifty day moving average is $14.36 and its 200-day moving average is $14.17. The stock has a market capitalization of $1.12 billion, a PE ratio of 84.41, a P/E/G ratio of 1.05 and a beta of 1.28. The company has a debt-to-equity ratio of 1.67, a current ratio of 3.62 and a quick ratio of 2.21.

Integra LifeSciences (NASDAQ:IART) last issued its quarterly earnings data on Wednesday, October 21st. The life sciences company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $411.18 million for the quarter, compared to analyst estimates of $413.16 million. Integra LifeSciences had a return on equity of 18.63% and a net margin of 0.79%. During the same period last year, the company earned ($0.07) earnings per share. As a group, equities analysts predict that Integra LifeSciences Holdings Corporation will post 2.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Integra LifeSciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Paradigm Capital Management Inc. NY purchased a new position in shares of Integra LifeSciences during the 2nd quarter worth $61,766,000. Bank of America Corp DE increased its position in Integra LifeSciences by 71.4% during the first quarter. Bank of America Corp DE now owns 1,414,509 shares of the life sciences company’s stock worth $13,325,000 after purchasing an additional 589,408 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Integra LifeSciences during the second quarter worth about $8,723,000. Access Investment Management LLC increased its position in Integra LifeSciences by 72.0% during the first quarter. Access Investment Management LLC now owns 640,535 shares of the life sciences company’s stock worth $6,034,000 after purchasing an additional 268,085 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its stake in Integra LifeSciences by 27.4% during the first quarter. Glenmede Trust Co. NA now owns 984,686 shares of the life sciences company’s stock worth $9,276,000 after purchasing an additional 211,774 shares during the period. Hedge funds and other institutional investors own 84.78% of the company’s stock.

About Integra LifeSciences

Integra LifeSciences is a medical technology company that develops products for neurosurgery, surgical care and tissue repair. Its offerings include devices and instruments used in cranial surgery, neuromonitoring and wound reconstruction, as well as materials designed to support the repair or regeneration of tissue. The company’s product portfolio includes dural repair products, cranial stabilization systems, surgical instruments and dermal regeneration products. Integra serves hospitals, surgeons and other healthcare providers in the United States and international markets.