Integra LifeSciences (NASDAQ:IART) Hits New 12-Month Low - Here's What Happened

Integra LifeSciences Holdings Corporation (NASDAQ:IART - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The company traded as low as $11.59 and last traded at $11.60, with a volume of 2341555 shares traded. The stock had previously closed at $11.91.

Analysts Set New Price Targets

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

Integra LifeSciences Stock Up 0.2%

The company has a market cap of $902.99 million, a price-to-earnings ratio of -30.58, a price-to-earnings-growth ratio of 0.65 and a beta of 1.17. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.72 and a current ratio of 1.21. The stock's fifty day moving average is $13.78 and its two-hundred day moving average is $19.66.

Integra LifeSciences (NASDAQ:IART - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The life sciences company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.02). The firm 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 12.12% and a negative net margin of 1.78%. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 earnings per share. Sell-side analysts predict that Integra LifeSciences Holdings Corporation will post 2.45 earnings per share for the current fiscal year.

Institutional Trading of Integra LifeSciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its stake in Integra LifeSciences by 2,418.7% during the first quarter. Assenagon Asset Management S.A. now owns 1,799,944 shares of the life sciences company's stock worth $39,581,000 after acquiring an additional 1,728,480 shares in the last quarter. Soleus Capital Management L.P. purchased a new stake in Integra LifeSciences in the 4th quarter worth approximately $28,940,000. Paradigm Capital Management Inc. NY raised its holdings in Integra LifeSciences by 170.3% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,431,100 shares of the life sciences company's stock valued at $32,457,000 after acquiring an additional 901,600 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Integra LifeSciences by 86.8% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,332,031 shares of the life sciences company's stock worth $30,210,000 after buying an additional 618,773 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Integra LifeSciences in the fourth quarter worth about $8,967,000. Institutional investors own 84.78% of the company's stock.

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.