Integra LifeSciences (NASDAQ:IART) Shares Gap Down After Earnings Miss

Integra LifeSciences Holdings Co. (NASDAQ:IART - Get Free Report) gapped down prior to trading on Monday following a weaker than expected earnings announcement. The stock had previously closed at $16.85, but opened at $14.73. Integra LifeSciences shares last traded at $11.88, with a volume of 1,189,112 shares traded.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on IART shares. Wells Fargo & Company cut their price target on shares of Integra LifeSciences from $25.00 to $13.00 and set an "equal weight" rating on the stock in a report on Tuesday. Argus upgraded Integra LifeSciences from a "hold" rating to a "buy" rating in a research report on Monday, March 31st. JPMorgan Chase & Co. cut 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. Finally, Truist Financial lowered their price target on shares of Integra LifeSciences from $26.00 to $19.00 and set a "hold" rating for the company in a report on Friday, April 11th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $19.88.

Hedge Funds Weigh In On Integra LifeSciences

Several institutional investors have recently made changes to their positions in IART. Assenagon Asset Management S.A. boosted its holdings in Integra LifeSciences by 2,418.7% in 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. acquired a new position in Integra LifeSciences during the 4th quarter valued at about $28,940,000. Paradigm Capital Management Inc. NY increased its holdings in Integra LifeSciences by 170.3% during 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 purchasing an additional 901,600 shares in the last quarter. Lord Abbett & CO. LLC raised its stake 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 purchasing an additional 618,773 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Integra LifeSciences during the fourth quarter valued at about $8,967,000. Institutional investors and hedge funds own 84.78% of the company's stock.

Integra LifeSciences Trading Down 0.2 %

The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.79. The firm has a market cap of $983.39 million, a P/E ratio of -141.43, a price-to-earnings-growth ratio of 0.73 and a beta of 1.27. The firm's 50-day simple moving average is $19.31 and its 200 day simple moving average is $21.96.

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.