Integra LifeSciences (NASDAQ:IART) Shares Up 8.8% After Earnings Beat

Key Points

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Integra LifeSciences Holdings Corporation (NASDAQ:IART - Get Free Report) shares shot up 8.8% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $14.07 and last traded at $13.46. 362,656 shares were traded during trading, a decline of 62% from the average session volume of 964,277 shares. The stock had previously closed at $12.37.

The life sciences company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.02. Integra LifeSciences had a positive return on equity of 11.18% and a negative net margin of 30.87%. The business had revenue of $415.61 million for the quarter, compared to the consensus estimate of $395.06 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. Integra LifeSciences's revenue for the quarter was down .6% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IART shares. Truist Financial dropped their price objective 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. Wells Fargo & Company dropped their price objective 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 price objective 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, JPMorgan Chase & Co. dropped their price objective 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. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Integra LifeSciences presently has an average rating of "Hold" and an average target price of $18.63.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC increased its stake in shares of Integra LifeSciences by 5,960.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,394 shares of the life sciences company's stock worth $32,000 after purchasing an additional 1,371 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Integra LifeSciences by 821.7% during the 4th quarter. Sterling Capital Management LLC now owns 2,166 shares of the life sciences company's stock worth $49,000 after purchasing an additional 1,931 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Integra LifeSciences by 205.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 3,132 shares of the life sciences company's stock worth $38,000 after purchasing an additional 2,108 shares during the last quarter. Covestor Ltd increased its stake in shares of Integra LifeSciences by 61.8% during the 4th quarter. Covestor Ltd now owns 5,423 shares of the life sciences company's stock worth $123,000 after purchasing an additional 2,071 shares during the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Integra LifeSciences during the 2nd quarter worth $73,000. Institutional investors and hedge funds own 84.78% of the company's stock.

Integra LifeSciences Stock Down 6.3%

The business's 50 day moving average is $12.60 and its 200-day moving average is $17.67. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.72 and a current ratio of 1.21. The firm has a market capitalization of $956.61 million, a price-to-earnings ratio of -1.89, a price-to-earnings-growth ratio of 0.73 and a beta of 1.16.

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.