Integra LifeSciences (NASDAQ:IART) Stock Price Down 4.4% - Here's What Happened

Shares of Integra LifeSciences Holdings Corporation (NASDAQ:IART - Get Free Report) fell 4.4% during mid-day trading on Friday . The company traded as low as $11.46 and last traded at $11.46. 171,604 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 969,890 shares. The stock had previously closed at $11.98.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IART. Argus raised shares of Integra LifeSciences from a "hold" rating to a "buy" rating in a research report on Monday, March 31st. JPMorgan Chase & Co. reduced their price objective on shares of Integra LifeSciences from $24.00 to $12.00 and set an "underweight" rating for the company in a research report on Tuesday, May 6th. Wells Fargo & Company dropped their target price on shares of 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. JMP Securities dropped 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 note on Friday, May 9th. Finally, Truist Financial dropped their target price on shares of Integra LifeSciences from $26.00 to $19.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Integra LifeSciences presently has an average rating of "Hold" and an average target price of $18.63.

Integra LifeSciences Stock Down 6.3%

The stock's fifty day moving average price is $12.73 and its 200 day moving average price is $18.42. The stock has a market cap of $872.68 million, a P/E ratio of -29.55, a price-to-earnings-growth ratio of 0.68 and a beta of 1.15. 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 released its earnings results on Monday, May 5th. The life sciences company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). Integra LifeSciences had a negative net margin of 1.78% and a positive return on equity of 12.12%. The business had revenue of $382.65 million for the quarter, compared to the consensus estimate of $381.17 million. During the same period in the prior year, the business posted $0.55 EPS. Integra LifeSciences's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts forecast that Integra LifeSciences Holdings Corporation will post 2.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Integra LifeSciences

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Integra LifeSciences by 10.4% during the first quarter. Wellington Management Group LLP now owns 2,766,125 shares of the life sciences company's stock worth $60,827,000 after acquiring an additional 259,987 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Integra LifeSciences by 5.0% during the first quarter. Alliancebernstein L.P. now owns 2,706,434 shares of the life sciences company's stock worth $59,514,000 after acquiring an additional 128,041 shares in the last quarter. 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. Goldman Sachs Group Inc. boosted its stake in 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 acquiring an additional 35,790 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY raised its holdings in Integra LifeSciences by 170.3% in 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 during the last quarter. Institutional investors own 84.78% of the company's stock.

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.

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