Integra LifeSciences (NASDAQ:IART) Shares Up 8.8% on Strong Earnings

Key Points

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Shares of Integra LifeSciences Holdings Corporation (NASDAQ:IART - Get Free Report) traded up 8.8% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $14.07 and last traded at $13.46. 362,656 shares were traded during mid-day 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 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.02. The company had revenue of $415.61 million during the quarter, compared to the consensus estimate of $395.06 million. Integra LifeSciences had a negative net margin of 30.87% and a positive return on equity of 12.15%. Integra LifeSciences's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Integra LifeSciences from $24.00 to $12.00 and set an "underweight" rating for the company in a research note on Tuesday, May 6th. Truist Financial lowered their price objective on shares of Integra LifeSciences from $26.00 to $19.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company lowered their price objective 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. Finally, JMP Securities lowered 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 research report on Friday, May 9th. 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $18.63.

Hedge Funds Weigh In On Integra LifeSciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IART. KLP Kapitalforvaltning AS purchased a new position in Integra LifeSciences in the 4th quarter valued at approximately $342,000. LPL Financial LLC purchased a new position in Integra LifeSciences in the 4th quarter valued at approximately $255,000. JPMorgan Chase & Co. boosted its position in Integra LifeSciences by 130.5% in the 4th quarter. JPMorgan Chase & Co. now owns 199,691 shares of the life sciences company's stock valued at $4,529,000 after buying an additional 113,061 shares during the period. Norges Bank purchased a new position in Integra LifeSciences in the 4th quarter valued at approximately $8,967,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in shares of Integra LifeSciences in the 4th quarter valued at $728,000. Hedge funds and other institutional investors own 84.78% of the company's stock.

Integra LifeSciences Price Performance

The stock's fifty day moving average price is $12.60 and its two-hundred day moving average price is $17.60. The firm has a market capitalization of $942.70 million, a price-to-earnings ratio of -1.85, a price-to-earnings-growth ratio of 0.69 and a beta of 1.16. The company has a current ratio of 1.23, a quick ratio of 0.73 and a debt-to-equity ratio of 1.18.

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.