Zacks Investment Research upgraded shares of Integra Lifesciences (NASDAQ:IART) from a sell rating to a hold rating in a report released on Tuesday.
According to Zacks, “Significant gross margin contractions caused by escalating costs have been a major headwind for Integra Lifesciences. Added to this, a tough competitive landscape adds to the company’s woes. Despite these hurdles, Integra Lifesciences has outperformed its industry over the past month. Solid growth across all business segments has been the key growth catalyst. Integra’s successful progress with its channel expansion strategy and Codman integration buoy optimism. Notably, the company announced plans within Orthopedics and Tissue Technologies segment to expand its sales channel, improve focus and competitiveness and better align the company’s product portfolio with clinical customers. Moreover, the strong investments in research and development is encouraging. The company’s promising guidance also instills confidence in the stock.”
Other analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed a hold rating and issued a $59.00 price target on shares of Integra Lifesciences in a research note on Wednesday, July 25th. BidaskClub lowered Integra Lifesciences from a strong-buy rating to a buy rating in a research note on Thursday, July 12th. BTIG Research raised Integra Lifesciences from a neutral rating to a buy rating and set a $69.00 price target on the stock in a research note on Thursday, July 26th. Oppenheimer reaffirmed a buy rating on shares of Integra Lifesciences in a research note on Friday, August 17th. Finally, Bank of America lowered Integra Lifesciences from a neutral rating to an underperform rating in a research note on Tuesday, August 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $62.15.
Shares of NASDAQ:IART opened at $61.96 on Tuesday. Integra Lifesciences has a 1-year low of $41.51 and a 1-year high of $67.50. The company has a market cap of $5.61 billion, a PE ratio of 31.77, a PEG ratio of 2.03 and a beta of 0.57. The company has a current ratio of 3.52, a quick ratio of 2.27 and a debt-to-equity ratio of 1.10.
Integra Lifesciences (NASDAQ:IART) last announced its quarterly earnings data on Wednesday, July 25th. The life sciences company reported $0.60 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. Integra Lifesciences had a return on equity of 17.43% and a net margin of 5.10%. The company had revenue of $366.20 million for the quarter, compared to analyst estimates of $368.08 million. During the same quarter last year, the firm earned $0.45 EPS. Integra Lifesciences’s revenue for the quarter was up 29.8% compared to the same quarter last year. Research analysts expect that Integra Lifesciences will post 2.4 EPS for the current year.
In other Integra Lifesciences news, insider Jeffrey Mosebrook sold 1,000 shares of Integra Lifesciences stock in a transaction on Friday, August 10th. The stock was sold at an average price of $62.42, for a total value of $62,420.00. Following the completion of the transaction, the insider now owns 3,085 shares in the company, valued at approximately $192,565.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Glenn Coleman sold 8,916 shares of Integra Lifesciences stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $63.00, for a total value of $561,708.00. Following the completion of the transaction, the vice president now owns 16,795 shares of the company’s stock, valued at approximately $1,058,085. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,140 shares of company stock worth $7,054,647. 5.10% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of IART. We Are One Seven LLC raised its position in Integra Lifesciences by 4,497.1% in the 1st quarter. We Are One Seven LLC now owns 3,218 shares of the life sciences company’s stock valued at $178,000 after purchasing an additional 3,148 shares during the last quarter. Zeke Capital Advisors LLC bought a new stake in shares of Integra Lifesciences during the second quarter worth $204,000. Coldstream Capital Management Inc. bought a new stake in shares of Integra Lifesciences during the first quarter worth $207,000. Eagle Boston Investment Management Inc. bought a new stake in shares of Integra Lifesciences during the second quarter worth $223,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Integra Lifesciences during the first quarter worth $235,000. Hedge funds and other institutional investors own 84.41% of the company’s stock.
About Integra Lifesciences
Integra LifeSciences Holdings Corporation develops, manufactures, and markets surgical implants and medical instruments for use in neurosurgery, extremity reconstruction, orthopedics, and general surgery. The company operates in two segments, Codman Specialty Surgical, and Orthopedics and Tissue Technologies.
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