Integra LifeSciences (NASDAQ:IART) Trading Down 3.3% - Here's What Happened

Shares of Integra LifeSciences Holdings Co. (NASDAQ:IART - Get Free Report) were down 3.3% during trading on Wednesday . The stock traded as low as $13.64 and last traded at $13.51. Approximately 268,272 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 1,037,474 shares. The stock had previously closed at $13.98.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IART. JMP Securities cut 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 report on Friday, May 9th. Wells Fargo & Company dropped their price target 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 Integra LifeSciences from a "hold" rating to a "buy" rating in a research note on Monday, March 31st. JPMorgan Chase & Co. lowered 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. Finally, Truist Financial dropped their price objective on Integra LifeSciences from $26.00 to $19.00 and set a "hold" rating for the company in a report on Friday, April 11th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $18.63.

Integra LifeSciences Trading Down 1.1%

The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.73 and a current ratio of 1.20. The firm has a market capitalization of $986.17 million, a P/E ratio of -140.98, a PEG ratio of 0.73 and a beta of 1.16. The firm has a 50 day simple moving average of $14.75 and a two-hundred day simple moving average of $20.40.

Integra LifeSciences (NASDAQ:IART - Get Free Report) last released its earnings results 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 during the quarter, compared to the consensus estimate of $381.17 million. Integra LifeSciences had a negative net margin of 0.42% and a positive return on equity of 12.35%. The business's revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 earnings per share. Equities research analysts forecast that Integra LifeSciences Holdings Co. will post 2.45 earnings per share for the current year.

Institutional Trading of Integra LifeSciences

Several institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its holdings in shares of 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 purchasing an additional 1,728,480 shares in the last quarter. Soleus Capital Management L.P. bought a new stake in Integra LifeSciences during the fourth quarter valued at approximately $28,940,000. Paradigm Capital Management Inc. NY grew its stake in Integra LifeSciences by 170.3% in the 4th 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. Lord Abbett & CO. LLC increased its holdings in shares of Integra LifeSciences by 86.8% in the 4th 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 during the last quarter. Finally, Norges Bank bought a new position in shares of Integra LifeSciences in the 4th quarter worth $8,967,000. 84.78% of the stock is currently owned by hedge funds and other institutional investors.

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.