Millennium Management LLC Reduces Position in Integra LifeSciences Holdings Co. (NASDAQ:IART)

Millennium Management LLC cut its stake in shares of Integra LifeSciences Holdings Co. (NASDAQ:IART - Free Report) by 99.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,947 shares of the life sciences company's stock after selling 30,169,856 shares during the quarter. Millennium Management LLC's holdings in Integra LifeSciences were worth $498,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in IART. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Integra LifeSciences by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,466 shares of the life sciences company's stock valued at $872,000 after purchasing an additional 1,437 shares during the last quarter. Expect Equity LLC purchased a new stake in Integra LifeSciences in the fourth quarter valued at $2,089,000. Bayesian Capital Management LP purchased a new stake in Integra LifeSciences in the fourth quarter valued at $737,000. Algert Global LLC boosted its holdings in Integra LifeSciences by 175.2% in the fourth quarter. Algert Global LLC now owns 49,197 shares of the life sciences company's stock valued at $1,116,000 after purchasing an additional 31,317 shares during the last quarter. Finally, AXA S.A. boosted its holdings in Integra LifeSciences by 10.7% in the fourth quarter. AXA S.A. now owns 109,004 shares of the life sciences company's stock valued at $2,472,000 after purchasing an additional 10,543 shares during the last quarter. 84.78% of the stock is owned by hedge funds and other institutional investors.

Integra LifeSciences Price Performance

Shares of NASDAQ:IART opened at $13.56 on Monday. The company's fifty day moving average price is $15.17 and its 200 day moving average price is $20.56. Integra LifeSciences Holdings Co. has a 12 month low of $11.60 and a 12 month high of $32.66. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.73. The firm has a market capitalization of $1.05 billion, a P/E ratio of -150.65, a P/E/G ratio of 0.73 and a beta of 1.16.

Integra LifeSciences (NASDAQ:IART - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The life sciences company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). The business had revenue of $382.65 million for the quarter, compared to analysts' expectations of $381.17 million. Integra LifeSciences had a positive return on equity of 12.35% and a negative net margin of 0.42%. The company's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. As a group, sell-side analysts predict that Integra LifeSciences Holdings Co. will post 2.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on IART shares. Truist Financial decreased their price objective on shares of Integra LifeSciences from $26.00 to $19.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company decreased their price objective on shares of Integra LifeSciences from $25.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price objective on shares of Integra LifeSciences from $24.00 to $12.00 and set an "underweight" rating for the company in a research report on Tuesday, May 6th. JMP Securities decreased their price objective on shares of Integra LifeSciences from $35.00 to $25.00 and set a "market outperform" rating for the company in a research report on Friday, May 9th. Finally, Argus upgraded shares of Integra LifeSciences from a "hold" rating to a "buy" rating in a research report on Monday, March 31st. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $18.63.

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.

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