Allianz Asset Management GmbH Raises Stake in Integra LifeSciences Holdings Corporation (NASDAQ:IART)

Key Points

• Allianz Asset Management GmbH increased its stake in Integra LifeSciences by 92.6%, acquiring an additional 71,939 shares to reach a total of 149,614 shares worth approximately $3.29 million.
• Several institutional investors, including JPMorgan Chase & Co. and Norges Bank, have also made significant investments in Integra LifeSciences, contributing to a total institutional ownership of 84.78% in the company.
• Recent analyst ratings show a generally pessimistic outlook for the stock, with four analysts giving sell ratings, leading to a decrease in price targets, including a drop from $35.00 to $25.00 by JMP Securities.

Allianz Asset Management GmbH grew its stake in Integra LifeSciences Holdings Corporation (NASDAQ:IART - Free Report) by 92.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 149,614 shares of the life sciences company's stock after purchasing an additional 71,939 shares during the quarter. Allianz Asset Management GmbH owned about 0.19% of Integra LifeSciences worth $3,290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC grew its holdings in shares of Integra LifeSciences by 5,960.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,394 shares of the life sciences company's stock valued at $32,000 after acquiring an additional 1,371 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Integra LifeSciences by 821.7% in the fourth quarter. Sterling Capital Management LLC now owns 2,166 shares of the life sciences company's stock valued at $49,000 after purchasing an additional 1,931 shares during the last quarter. Covestor Ltd increased its position in 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 acquiring an additional 2,071 shares during the period. CWM LLC increased its position in shares of Integra LifeSciences by 413.8% in the first quarter. CWM LLC now owns 6,664 shares of the life sciences company's stock worth $147,000 after purchasing an additional 5,367 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Integra LifeSciences during the 1st quarter worth $223,000. Institutional investors own 84.78% of the company's stock.

Integra LifeSciences Stock Down 6.3%

Shares of IART stock traded down $0.83 during trading hours on Friday, reaching $12.31. 2,230,460 shares of the company's stock were exchanged, compared to its average volume of 992,843. Integra LifeSciences Holdings Corporation has a fifty-two week low of $11.06 and a fifty-two week high of $27.13. The company has a market cap of $956.63 million, a price-to-earnings ratio of -32.39, a P/E/G ratio of 0.69 and a beta of 1.15. The company has a current ratio of 1.21, a quick ratio of 0.72 and a debt-to-equity ratio of 0.81. The stock's 50 day moving average is $12.60 and its 200-day moving average is $17.73.

Integra LifeSciences (NASDAQ:IART - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The life sciences company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. Integra LifeSciences had a negative net margin of 1.78% and a positive return on equity of 12.12%. The company had revenue of $415.61 million for the quarter, compared to analyst estimates of $395.06 million. During the same period in the prior year, the company earned $0.63 earnings per share. The firm's revenue was down .6% on a year-over-year basis. Analysts predict that Integra LifeSciences Holdings Corporation will post 2.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IART has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Integra LifeSciences from $24.00 to $12.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 6th. JMP Securities decreased their price target on shares of Integra LifeSciences from $35.00 to $25.00 and set a "market outperform" rating for the company in a research note on Friday, May 9th. Wells Fargo & Company decreased their price target on Integra LifeSciences from $25.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Finally, Truist Financial dropped their price target on Integra LifeSciences from $26.00 to $19.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $18.63.

Integra LifeSciences 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.