Integra LifeSciences (NASDAQ:IART) Stock Rating Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Integra LifeSciences to “strong sell” from “hold,” while the broader analyst consensus remains “Reduce” with an average price target of $16.12.
• Shares opened at $11.99, down 0.9%, and are trading well below their 52-week high of $20.49; the company has a market capitalization of approximately $932.5 million.
• Integra reported quarterly EPS of $0.59, exceeding estimates of $0.56, but revenue of $411.18 million fell short of the $413.16 million consensus forecast.

Integra LifeSciences (NASDAQ:IART - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other analysts have also recently issued reports on the company. Weiss Ratings upgraded Integra LifeSciences from a "sell (e+)" rating to a "sell (d+)" rating in a research report on Monday. Wells Fargo & Company set a $13.00 target price on Integra LifeSciences and gave the company an "equal weight" rating in a research note on Thursday, October 22nd. Citizens Jmp reduced their target price on Integra LifeSciences from $25.00 to $22.00 and set a "market outperform" rating for the company in a research report on Thursday, October 22nd. BMO Capital Markets reiterated a "market perform" rating and set a $14.00 price target (down from $15.00) on shares of Integra LifeSciences in a research note on Thursday, October 22nd. Finally, Citigroup reiterated an "outperform" rating on shares of Integra LifeSciences in a research note on Thursday, October 22nd. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $16.12.

Integra LifeSciences Stock Down 0.9%

IART stock opened at $11.99 on Monday. Integra LifeSciences has a twelve month low of $8.70 and a twelve month high of $20.49. The company has a market cap of $932.50 million, a PE ratio of 70.53 and a beta of 1.21. The business's 50-day simple moving average is $15.11 and its 200 day simple moving average is $14.10.

Integra LifeSciences (NASDAQ:IART - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The life sciences company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $411.18 million during the quarter, compared to analyst estimates of $413.16 million. During the same period last year, the company earned ($0.07) EPS. On average, equities research analysts anticipate that Integra LifeSciences will post 2.34 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of IART. Inspire Investing LLC grew its position in Integra LifeSciences by 5.2% during the 3rd quarter. Inspire Investing LLC now owns 39,168 shares of the life sciences company's stock worth $638,000 after acquiring an additional 1,929 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Integra LifeSciences by 27.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 14,233 shares of the life sciences company's stock valued at $134,000 after purchasing an additional 3,059 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Integra LifeSciences during the 2nd quarter valued at $82,000. Integrated Wealth Concepts LLC bought a new position in Integra LifeSciences in the 2nd quarter valued at $84,000. Finally, State of Wyoming raised its position in Integra LifeSciences by 26.4% in the 1st quarter. State of Wyoming now owns 25,276 shares of the life sciences company's stock valued at $238,000 after purchasing an additional 5,278 shares during the last quarter. Institutional investors own 84.78% of the company's stock.

About Integra LifeSciences

Integra LifeSciences Holdings Corporation NASDAQ: IART is a global medical technology company that develops and manufactures products used in neurosurgery, reconstructive surgery, orthopedics and wound care. Its portfolio includes medical devices, surgical instruments and regenerative tissue technologies designed to help healthcare professionals treat complex conditions and support patient recovery.

Integra's neurosurgical products include dural repair products, cerebrospinal fluid management systems, cranial stabilization devices and specialized surgical instruments.

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