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

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IART. 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. Argus upgraded shares of Integra LifeSciences from a "hold" rating to a "buy" rating in a research note on Monday, March 31st. JMP Securities reduced their price objective on 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. JPMorgan Chase & Co. decreased their price target 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, May 6th. Finally, Truist Financial dropped 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 note on Friday, April 11th. Four equities 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $18.63.

Integra LifeSciences Stock Down 2.6%

The stock has a market cap of $901.44 million, a PE ratio of -30.53, a P/E/G ratio of 0.66 and a beta of 1.16. The business has a 50 day moving average of $13.99 and a 200-day moving average of $19.89. The company has a current ratio of 1.21, a quick ratio of 0.72 and a debt-to-equity ratio of 0.81.

Integra LifeSciences (NASDAQ:IART - Get Free Report) last announced its earnings results on Monday, May 5th. The life sciences company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 12.12% and a negative net margin of 1.78%. The business's revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share. Equities research analysts predict that Integra LifeSciences Holdings Corporation will post 2.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Integra LifeSciences

A number of hedge funds have recently added to or reduced their stakes in IART. Wellington Management Group LLP lifted its position in shares of Integra LifeSciences by 10.4% during the 1st quarter. Wellington Management Group LLP now owns 2,766,125 shares of the life sciences company's stock valued at $60,827,000 after acquiring an additional 259,987 shares during the period. Alliancebernstein L.P. lifted its holdings in Integra LifeSciences by 5.0% in the 1st quarter. Alliancebernstein L.P. now owns 2,706,434 shares of the life sciences company's stock valued at $59,514,000 after purchasing an additional 128,041 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Integra LifeSciences by 2,418.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,799,944 shares of the life sciences company's stock worth $39,581,000 after purchasing an additional 1,728,480 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Integra LifeSciences by 2.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,660,511 shares of the life sciences company's stock worth $36,515,000 after buying an additional 35,790 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY grew its holdings in shares of 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 worth $32,457,000 after buying an additional 901,600 shares in the last quarter. Institutional investors and hedge funds 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.

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