Integra LifeSciences (NASDAQ:IART) Price Target Cut to $16.00 by Analysts at Citigroup

Integra LifeSciences (NASDAQ:IART) had its price objective decreased by Citigroup from $20.00 to $16.00 in a research note released on Tuesday morning, Benzinga reports. Citigroup currently has a sell rating on the life sciences company’s stock.

IART has been the topic of a number of other reports. Morgan Stanley increased their price objective on shares of Integra LifeSciences from $24.00 to $27.00 and gave the company an underweight rating in a research note on Monday, July 15th. BTIG Research dropped their price target on shares of Integra LifeSciences from $22.00 to $20.00 and set a sell rating on the stock in a research note on Wednesday, August 28th. JMP Securities reduced their price objective on shares of Integra LifeSciences from $40.00 to $35.00 and set a market outperform rating for the company in a report on Tuesday, July 30th. Finally, Truist Financial decreased their price target on Integra LifeSciences from $32.00 to $26.00 and set a hold rating for the company in a research note on Tuesday, July 30th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Integra LifeSciences presently has a consensus rating of Hold and a consensus price target of $28.13.

Integra LifeSciences Stock Performance

NASDAQ:IART opened at $17.00 on Tuesday. The firm has a 50-day moving average of $20.21 and a two-hundred day moving average of $26.76. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 2.10. The stock has a market cap of $1.34 billion, a P/E ratio of 34.00, a PEG ratio of 0.60 and a beta of 1.09. Integra LifeSciences has a 1-year low of $16.81 and a 1-year high of $45.42.

Integra LifeSciences (NASDAQ:IART) last issued its quarterly earnings data on Monday, July 29th. The life sciences company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Integra LifeSciences had a return on equity of 14.07% and a net margin of 1.51%. The firm had revenue of $418.20 million during the quarter, compared to analyst estimates of $413.07 million. During the same quarter last year, the firm earned $0.71 EPS. Integra LifeSciences’s quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts expect that Integra LifeSciences will post 2.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Systematic Financial Management LP raised its position in shares of Integra LifeSciences by 540.6% during the 2nd quarter. Systematic Financial Management LP now owns 397,474 shares of the life sciences company’s stock valued at $11,582,000 after acquiring an additional 335,424 shares during the last quarter. Algert Global LLC bought a new stake in shares of Integra LifeSciences in the second quarter valued at about $1,312,000. D. E. Shaw & Co. Inc. lifted its position in shares of Integra LifeSciences by 64.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 855,352 shares of the life sciences company’s stock worth $24,925,000 after purchasing an additional 335,557 shares in the last quarter. AQR Capital Management LLC raised its holdings in Integra LifeSciences by 90.9% during the second quarter. AQR Capital Management LLC now owns 611,798 shares of the life sciences company’s stock worth $17,436,000 after acquiring an additional 291,326 shares in the last quarter. Finally, AXA S.A. grew its stake in shares of Integra LifeSciences by 409.1% in the second quarter. AXA S.A. now owns 96,689 shares of the life sciences company’s stock valued at $2,818,000 after buying an additional 77,697 shares in the last quarter. 84.78% of the stock is currently owned by institutional investors.

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.