Integra LifeSciences (NASDAQ:IART) Trading Down 7.8% on Analyst Downgrade

Integra LifeSciences Holdings Co. (NASDAQ:IART - Get Free Report)'s share price was down 7.8% during mid-day trading on Friday after Truist Financial lowered their price target on the stock from $26.00 to $19.00. Truist Financial currently has a hold rating on the stock. Integra LifeSciences traded as low as $16.00 and last traded at $16.06. Approximately 178,151 shares changed hands during trading, a decline of 83% from the average daily volume of 1,046,059 shares. The stock had previously closed at $17.42.

Separately, Argus raised shares of Integra LifeSciences from a "hold" rating to a "buy" rating in a report on Monday, March 31st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $22.71.

Institutional Investors Weigh In On Integra LifeSciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its holdings in Integra LifeSciences by 5,960.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,394 shares of the life sciences company's stock valued at $32,000 after purchasing an additional 1,371 shares during the period. Sterling Capital Management LLC raised its position in shares of Integra LifeSciences by 821.7% during the fourth quarter. Sterling Capital Management LLC now owns 2,166 shares of the life sciences company's stock valued at $49,000 after buying an additional 1,931 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Integra LifeSciences by 599.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,267 shares of the life sciences company's stock valued at $74,000 after buying an additional 2,800 shares during the period. Covestor Ltd grew its position in Integra LifeSciences by 61.8% during the fourth quarter. Covestor Ltd now owns 5,423 shares of the life sciences company's stock worth $123,000 after buying an additional 2,071 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in Integra LifeSciences during the fourth quarter valued at about $180,000. Institutional investors and hedge funds own 84.78% of the company's stock.

Integra LifeSciences Stock Performance

The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -175.20, a PEG ratio of 0.73 and a beta of 1.24. The firm has a fifty day simple moving average of $21.88 and a 200 day simple moving average of $22.29. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 0.79.

Integra LifeSciences (NASDAQ:IART - Get Free Report) last issued its earnings results on Tuesday, February 25th. The life sciences company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.85 by $0.12. The firm had revenue of $442.65 million during the quarter, compared to analysts' expectations of $445.15 million. Integra LifeSciences had a positive return on equity of 12.35% and a negative net margin of 0.42%. Integra LifeSciences's quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business earned $0.89 earnings per share. As a group, sell-side analysts expect that Integra LifeSciences Holdings Co. will post 2.45 earnings per share for the current year.

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.