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

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

Analyst Ratings Changes

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

Integra LifeSciences Price Performance

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

Integra LifeSciences (NASDAQ:IART) last posted its quarterly earnings data on Tuesday, February 25th. The life sciences company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.12. The business had revenue of $442.65 million during the quarter, compared to analysts’ expectations of $445.15 million. Integra LifeSciences had a positive return on equity of 12.35% and a negative net margin of 0.42%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 earnings per share. Equities analysts forecast that Integra LifeSciences Holdings Co. will post 2.45 EPS for the current fiscal year.

Institutional Trading of Integra LifeSciences

Large investors have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its position in shares of Integra LifeSciences by 5,960.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,394 shares of the life sciences company’s stock worth $32,000 after purchasing an additional 1,371 shares in the last quarter. Sterling Capital Management LLC increased its position 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 purchasing an additional 1,931 shares in the last quarter. KBC Group NV increased its position in shares of Integra LifeSciences by 65.2% during the third quarter. KBC Group NV now owns 2,839 shares of the life sciences company’s stock worth $52,000 after purchasing an additional 1,120 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Integra LifeSciences by 599.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,267 shares of the life sciences company’s stock worth $74,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Covestor Ltd increased its position 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 purchasing an additional 2,071 shares in the last quarter. 84.78% of the stock is currently owned by hedge funds and other 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.