Citigroup Lowers Integra LifeSciences (NASDAQ:IART) Price Target to $16.00

Integra LifeSciences (NASDAQ:IART) had its target price trimmed by Citigroup from $20.00 to $16.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a sell rating on the life sciences company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley increased their target price on shares of Integra LifeSciences from $24.00 to $27.00 and gave the company an underweight rating in a research report on Monday, July 15th. BTIG Research decreased their target price on shares of Integra LifeSciences from $22.00 to $20.00 and set a sell rating for the company in a research report on Wednesday, August 28th. Truist Financial decreased their target price on shares of Integra LifeSciences from $32.00 to $26.00 and set a hold rating for the company in a research report on Tuesday, July 30th. Finally, JMP Securities decreased their target price on shares of Integra LifeSciences from $40.00 to $35.00 and set a market outperform rating for the company in a research report on Tuesday, July 30th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $28.13.

Integra LifeSciences Price Performance

Shares of IART opened at $16.95 on Tuesday. The company has a 50 day moving average price of $20.50 and a 200-day moving average price of $26.83. Integra LifeSciences has a fifty-two week low of $16.81 and a fifty-two week high of $45.42. The stock has a market capitalization of $1.34 billion, a PE ratio of 33.90, a PEG ratio of 0.60 and a beta of 1.09. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.10 and a current ratio of 3.39.

Integra LifeSciences (NASDAQ:IART) last announced its quarterly earnings results on Monday, July 29th. The life sciences company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. Integra LifeSciences had a net margin of 1.51% and a return on equity of 14.07%. The firm had revenue of $418.20 million during the quarter, compared to analysts’ expectations of $413.07 million. During the same quarter in the prior year, the company earned $0.71 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. Equities analysts predict that Integra LifeSciences will post 2.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors raised its holdings in shares of Integra LifeSciences by 37.7% in the first quarter. Capital Research Global Investors now owns 5,918,981 shares of the life sciences company’s stock worth $209,828,000 after buying an additional 1,621,655 shares during the last quarter. Madison Avenue Partners LP increased its stake in shares of Integra LifeSciences by 8.0% in the fourth quarter. Madison Avenue Partners LP now owns 1,042,156 shares of the life sciences company’s stock worth $45,386,000 after acquiring an additional 77,489 shares during the period. Jane Street Group LLC increased its stake in shares of Integra LifeSciences by 181.1% in the first quarter. Jane Street Group LLC now owns 124,887 shares of the life sciences company’s stock worth $4,427,000 after acquiring an additional 80,463 shares during the period. Leeward Investments LLC MA increased its stake in shares of Integra LifeSciences by 17.8% in the first quarter. Leeward Investments LLC MA now owns 452,438 shares of the life sciences company’s stock worth $16,039,000 after acquiring an additional 68,247 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Integra LifeSciences by 606.9% in the second quarter. SG Americas Securities LLC now owns 67,471 shares of the life sciences company’s stock worth $1,966,000 after acquiring an additional 57,927 shares during the period. Hedge funds and other institutional investors 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.