Integra LifeSciences (NASDAQ:IART) Reaches New 52-Week Low After Earnings Miss

Integra LifeSciences Holdings Co. (NASDAQ:IART - Get Free Report) shares reached a new 52-week low during trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $11.60 and last traded at $13.28, with a volume of 7492449 shares changing hands. The stock had previously closed at $16.85.

The life sciences company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.02). Integra LifeSciences had a negative net margin of 0.42% and a positive return on equity of 12.35%. The firm had revenue of $382.65 million for the quarter, compared to the consensus estimate of $381.17 million. During the same period in the previous year, the company earned $0.55 earnings per share. Integra LifeSciences's quarterly revenue was up 3.7% compared to the same quarter last year.

Analyst Upgrades and Downgrades

IART has been the subject of several recent research reports. JMP Securities cut their price target on Integra LifeSciences from $35.00 to $25.00 and set a "market outperform" rating for the company in a report on Friday. Wells Fargo & Company cut their price objective on Integra LifeSciences from $25.00 to $13.00 and set an "equal weight" rating for the company in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Integra LifeSciences from $24.00 to $12.00 and set an "underweight" rating on the stock in a research note on Tuesday. Truist Financial dropped their price target 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. Finally, Argus upgraded shares of Integra LifeSciences from a "hold" rating to a "buy" rating in a research note on Monday, March 31st. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Integra LifeSciences presently has an average rating of "Hold" and an average target price of $18.63.

Institutional Trading of Integra LifeSciences

Hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its holdings in shares of Integra LifeSciences by 5,960.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,394 shares of the life sciences company's stock worth $32,000 after purchasing an additional 1,371 shares during the last quarter. Sterling Capital Management LLC grew its holdings in Integra LifeSciences by 821.7% during the 4th quarter. Sterling Capital Management LLC now owns 2,166 shares of the life sciences company's stock valued at $49,000 after buying an additional 1,931 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Integra LifeSciences by 599.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,267 shares of the life sciences company's stock worth $74,000 after acquiring an additional 2,800 shares during the last quarter. Covestor Ltd boosted its position in shares of Integra LifeSciences by 61.8% during the 4th quarter. Covestor Ltd now owns 5,423 shares of the life sciences company's stock valued at $123,000 after acquiring an additional 2,071 shares during the last quarter. Finally, CWM LLC grew its holdings 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 valued at $147,000 after purchasing an additional 5,367 shares in the last quarter. Hedge funds and other institutional investors own 84.78% of the company's stock.

Integra LifeSciences Trading Down 5.0 %

The company has a market cap of $946.31 million, a PE ratio of -136.10, a P/E/G ratio of 0.73 and a beta of 1.27. The stock's 50 day moving average is $19.12 and its 200-day moving average is $21.91. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.79.

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.