Integra LifeSciences (NASDAQ:IART) Upgraded to "Neutral" at Citigroup

Integra LifeSciences (NASDAQ:IART - Get Free Report) was upgraded by Citigroup from a "sell" rating to a "neutral" rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm currently has a $38.00 price objective on the life sciences company's stock. Citigroup's price target would suggest a potential upside of 12.09% from the company's current price.

IART has been the subject of several other reports. Truist Financial reduced their price target on Integra LifeSciences from $46.00 to $41.00 and set a "hold" rating for the company in a research report on Friday, March 1st. Wells Fargo & Company upgraded Integra LifeSciences from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $40.00 to $49.00 in a research report on Tuesday, December 5th. StockNews.com upgraded Integra LifeSciences from a "hold" rating to a "buy" rating in a research report on Thursday, March 28th. Finally, JMP Securities reduced their price target on Integra LifeSciences from $55.00 to $49.00 and set a "market outperform" rating for the company in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Integra LifeSciences currently has an average rating of "Hold" and an average target price of $44.89.

Integra LifeSciences Stock Performance

Shares of Integra LifeSciences stock traded up $0.38 on Wednesday, reaching $33.90. 622,268 shares of the stock were exchanged, compared to its average volume of 654,176. 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 has a twelve month low of $33.24 and a twelve month high of $59.33. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 1.05 and a beta of 1.12. The business has a 50 day moving average price of $38.86 and a two-hundred day moving average price of $39.56.

Integra LifeSciences (NASDAQ:IART - Get Free Report) last released its earnings results on Wednesday, February 28th. The life sciences company reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.01). Integra LifeSciences had a return on equity of 15.19% and a net margin of 4.39%. The firm had revenue of $397.00 million for the quarter, compared to analyst estimates of $399.30 million. During the same period last year, the firm earned $0.94 EPS. The company's revenue for the quarter was down .3% compared to the same quarter last year. Analysts anticipate that Integra LifeSciences will post 3.19 earnings per share for the current fiscal year.

Institutional Trading of Integra LifeSciences

A number of institutional investors and hedge funds have recently made changes to their positions in IART. Price T Rowe Associates Inc. MD boosted its stake in shares of Integra LifeSciences by 6.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 33,307 shares of the life sciences company's stock worth $1,451,000 after acquiring an additional 1,929 shares during the last quarter. Madison Avenue Partners LP boosted its stake in shares of Integra LifeSciences by 8.0% in the fourth quarter. Madison Avenue Partners LP now owns 1,042,156 shares of the life sciences company's stock worth $45,386,000 after acquiring an additional 77,489 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in shares of Integra LifeSciences by 12.3% in the fourth quarter. Voloridge Investment Management LLC now owns 310,328 shares of the life sciences company's stock worth $13,515,000 after acquiring an additional 33,935 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Integra LifeSciences by 30.7% in the fourth quarter. Nuveen Asset Management LLC now owns 171,257 shares of the life sciences company's stock worth $7,458,000 after acquiring an additional 40,260 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of Integra LifeSciences in the fourth quarter worth approximately $553,000. 84.78% of the stock is currently owned by hedge funds and other institutional investors.

About Integra LifeSciences

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.