Integra LifeSciences (NASDAQ:IART) Price Target Lowered to $24.00 at Morgan Stanley

Integra LifeSciences (NASDAQ:IART - Get Free Report) had its target price cut by Morgan Stanley from $37.00 to $24.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an "underweight" rating on the life sciences company's stock. Morgan Stanley's target price would suggest a potential downside of 4.31% from the stock's current price.

Other research analysts also recently issued reports about the company. Wells Fargo & Company downgraded Integra LifeSciences from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $45.00 to $25.00 in a research note on Tuesday. Oppenheimer downgraded shares of Integra LifeSciences from an "outperform" rating to a "market perform" rating in a research report on Tuesday. StockNews.com downgraded shares of Integra LifeSciences from a "buy" rating to a "hold" rating in a report on Tuesday, April 30th. Bank of America cut their price target on shares of Integra LifeSciences from $42.00 to $26.00 and set an "underperform" rating for the company in a report on Tuesday. Finally, Truist Financial lowered their price objective on Integra LifeSciences from $37.00 to $25.00 and set a "hold" rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $36.80.

Integra LifeSciences Stock Performance

IART traded up $1.94 during trading on Tuesday, hitting $25.08. 4,165,878 shares of the stock were exchanged, compared to its average volume of 811,270. The firm has a market capitalization of $1.97 billion, a P/E ratio of 29.94, a PEG ratio of 0.87 and a beta of 1.17. Integra LifeSciences has a 1-year low of $22.36 and a 1-year high of $51.12. The stock has a fifty day moving average price of $33.33 and a two-hundred day moving average price of $38.33. The company has a quick ratio of 2.18, a current ratio of 3.45 and a debt-to-equity ratio of 0.94.

Integra LifeSciences (NASDAQ:IART - Get Free Report) last released its quarterly earnings results on Monday, May 6th. The life sciences company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. The firm had revenue of $368.90 million during the quarter, compared to the consensus estimate of $361.96 million. Integra LifeSciences had a net margin of 4.39% and a return on equity of 15.19%. Integra LifeSciences's revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. As a group, sell-side analysts predict that Integra LifeSciences will post 3.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arizona State Retirement System raised its position in Integra LifeSciences by 1.3% during the third quarter. Arizona State Retirement System now owns 20,988 shares of the life sciences company's stock worth $802,000 after acquiring an additional 279 shares during the last quarter. Cardinal Capital Management raised its position in shares of Integra LifeSciences by 1.6% during the 4th quarter. Cardinal Capital Management now owns 22,101 shares of the life sciences company's stock worth $962,000 after purchasing an additional 347 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Integra LifeSciences by 123.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 670 shares of the life sciences company's stock valued at $29,000 after buying an additional 370 shares in the last quarter. Inspire Investing LLC grew its holdings in Integra LifeSciences by 5.1% during the 3rd quarter. Inspire Investing LLC now owns 8,004 shares of the life sciences company's stock valued at $306,000 after buying an additional 392 shares during the last quarter. Finally, State of Michigan Retirement System increased its position in Integra LifeSciences by 2.5% during the first quarter. State of Michigan Retirement System now owns 16,690 shares of the life sciences company's stock worth $592,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds 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.