Integra LifeSciences (NASDAQ:IART) Upgraded to Buy at Argus

Integra LifeSciences (NASDAQ:IART) was upgraded by research analysts at Argus from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Marketbeat Ratings reports.

Separately, Morgan Stanley began coverage on Integra LifeSciences in a research report on Monday, December 2nd. They issued an “underweight” rating and a $20.00 price objective for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.00.

Integra LifeSciences Stock Performance

IART opened at $21.69 on Monday. The stock has a market cap of $1.67 billion, a P/E ratio of -240.97, a P/E/G ratio of 0.73 and a beta of 1.23. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.73. The firm has a fifty day moving average price of $23.78 and a 200 day moving average price of $22.21. Integra LifeSciences has a 1 year low of $16.81 and a 1 year high of $35.45.

Integra LifeSciences (NASDAQ:IART) last posted its earnings results on Tuesday, February 25th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.12. Integra LifeSciences had a negative net margin of 0.42% and a positive return on equity of 12.35%. The business had revenue of $442.65 million for the quarter, compared to analyst estimates of $445.15 million. During the same period in the prior year, the company posted $0.89 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts anticipate that Integra LifeSciences will post 2.45 earnings per share for the current year.

Hedge Funds Weigh In On Integra LifeSciences

A number of hedge funds have recently made changes to their positions in IART. Arrowstreet Capital Limited Partnership boosted its stake in shares of Integra LifeSciences by 7.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 13,756 shares of the life sciences company’s stock worth $312,000 after acquiring an additional 913 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Integra LifeSciences by 5,960.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,394 shares of the life sciences company’s stock valued at $32,000 after purchasing an additional 1,371 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Integra LifeSciences by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,466 shares of the life sciences company’s stock worth $872,000 after purchasing an additional 1,437 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of Integra LifeSciences by 821.7% during the fourth quarter. Sterling Capital Management LLC now owns 2,166 shares of the life sciences company’s stock worth $49,000 after buying an additional 1,931 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Integra LifeSciences by 61.8% during the fourth quarter. Covestor Ltd now owns 5,423 shares of the life sciences company’s stock worth $123,000 after buying an additional 2,071 shares in the last quarter. Institutional investors and hedge funds own 84.78% of the company’s stock.

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.