Integra LifeSciences (NASDAQ:IART) Stock Price Down 7.8% After Analyst Downgrade

Integra LifeSciences Holdings Co. (NASDAQ:IART - Get Free Report)'s stock price fell 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. 178,151 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,046,059 shares. The stock had previously closed at $17.42.

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

Check Out Our Latest Analysis on Integra LifeSciences

Hedge Funds Weigh In On Integra LifeSciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in shares of Integra LifeSciences by 18.7% during the 3rd quarter. Principal Financial Group Inc. now owns 401,432 shares of the life sciences company's stock worth $7,294,000 after purchasing an additional 63,266 shares during the last quarter. Norges Bank purchased a new stake in Integra LifeSciences during the 4th quarter worth approximately $8,967,000. Nisa Investment Advisors LLC raised its holdings in shares of Integra LifeSciences by 599.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,267 shares of the life sciences company's stock valued at $74,000 after acquiring an additional 2,800 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Integra LifeSciences by 33.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 19,755 shares of the life sciences company's stock valued at $448,000 after acquiring an additional 4,967 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Integra LifeSciences in the fourth quarter worth approximately $180,000. 84.78% of the stock is owned by hedge funds and other institutional investors.

Integra LifeSciences Price Performance

The company has a 50-day moving average of $22.46 and a 200 day moving average of $22.31. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $1.24 billion, a PE ratio of -177.42, a PEG ratio of 0.73 and a beta of 1.24.

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, beating analysts' consensus estimates of $0.85 by $0.12. The business had revenue of $442.65 million during the quarter, compared to analysts' expectations of $445.15 million. Integra LifeSciences had a negative net margin of 0.42% and a positive return on equity of 12.35%. The company's quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. Sell-side analysts predict that Integra LifeSciences Holdings Co. will post 2.45 EPS 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.

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