Integra LifeSciences Holdings Co. (NASDAQ:IART) Short Interest Down 9.2% in August

Integra LifeSciences Holdings Co. (NASDAQ:IART) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,570,000 shares, a decline of 9.2% from the August 15th total of 2,830,000 shares. Currently, 3.6% of the company’s stock are sold short. Based on an average daily trading volume, of 654,400 shares, the short-interest ratio is currently 3.9 days.

Integra LifeSciences Price Performance

NASDAQ:IART traded up $0.01 during midday trading on Tuesday, hitting $39.27. The company had a trading volume of 339,339 shares, compared to its average volume of 617,874. The stock’s fifty day moving average price is $42.89 and its 200-day moving average price is $46.85. Integra LifeSciences has a 52-week low of $37.36 and a 52-week high of $60.69. The company has a quick ratio of 1.85, a current ratio of 2.78 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $3.20 billion, a PE ratio of 25.01, a P/E/G ratio of 1.60 and a beta of 1.20.

Integra LifeSciences (NASDAQ:IART) last issued its earnings results on Wednesday, July 26th. The life sciences company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.14. Integra LifeSciences had a return on equity of 15.60% and a net margin of 8.49%. The business had revenue of $381.30 million during the quarter, compared to analyst estimates of $388.79 million. During the same quarter in the prior year, the firm earned $0.82 earnings per share. Integra LifeSciences’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, research analysts expect that Integra LifeSciences will post 3.14 earnings per share for the current year.

Institutional Investors Weigh In On Integra LifeSciences

A number of large investors have recently made changes to their positions in the business. Virginia Retirement Systems ET AL purchased a new position in Integra LifeSciences during the 2nd quarter valued at $1,670,000. Coppell Advisory Solutions LLC bought a new position in Integra LifeSciences in the second quarter worth about $84,000. Clearline Capital LP purchased a new position in shares of Integra LifeSciences during the 2nd quarter worth approximately $10,025,000. XTX Topco Ltd bought a new stake in shares of Integra LifeSciences during the second quarter valued at approximately $451,000. Finally, Y Intercept Hong Kong Ltd raised its holdings in Integra LifeSciences by 19.9% in the second quarter. Y Intercept Hong Kong Ltd now owns 10,846 shares of the life sciences company’s stock worth $446,000 after purchasing an additional 1,797 shares in the last quarter. 84.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IART has been the topic of several recent analyst reports. Jefferies Financial Group upgraded Integra LifeSciences from a “hold” rating to a “buy” rating and dropped their price objective for the company from $58.00 to $53.00 in a research note on Wednesday, July 12th. Citigroup downgraded Integra LifeSciences from a “neutral” rating to a “sell” rating and cut their target price for the stock from $59.00 to $39.00 in a research note on Tuesday, May 23rd. Argus downgraded Integra LifeSciences from a “buy” rating to a “hold” rating in a research report on Thursday, June 8th. TheStreet downgraded shares of Integra LifeSciences from a “b-” rating to a “c+” rating in a report on Monday, May 22nd. Finally, 22nd Century Group reiterated a “downgrade” rating on shares of Integra LifeSciences in a research note on Tuesday, May 23rd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.29.

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.