Integra LifeSciences Holdings Co. (NASDAQ:IART) Short Interest Update

Integra LifeSciences Holdings Co. (NASDAQ:IART) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 3,240,000 shares, a drop of 6.1% from the December 15th total of 3,450,000 shares. Approximately 4.9% of the shares of the stock are short sold. Based on an average trading volume of 786,000 shares, the days-to-cover ratio is currently 4.1 days.

Analysts Set New Price Targets

Several research analysts have weighed in on IART shares. Citigroup upped their price objective on shares of Integra LifeSciences from $16.00 to $22.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. BTIG Research raised shares of Integra LifeSciences from a “sell” rating to a “neutral” rating in a research note on Monday, October 7th. Morgan Stanley initiated coverage on Integra LifeSciences in a research report on Monday, December 2nd. They set an “underweight” rating and a $20.00 price objective for the company. Bank of America dropped their target price on Integra LifeSciences from $26.00 to $18.00 and set an “underperform” rating on the stock in a research report on Monday, October 7th. Finally, Truist Financial reduced their price target on Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating for the company in a report on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.00.

Integra LifeSciences Stock Performance

Shares of NASDAQ:IART traded up $0.86 on Friday, hitting $24.10. 762,836 shares of the company were exchanged, compared to its average volume of 463,388. The company’s 50 day moving average price is $23.20 and its two-hundred day moving average price is $22.45. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.73 and a current ratio of 1.20. Integra LifeSciences has a one year low of $16.81 and a one year high of $45.42. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -267.75, a PEG ratio of 0.73 and a beta of 1.16.

Integra LifeSciences (NASDAQ:IART) last posted its earnings results on Monday, November 4th. The life sciences company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Integra LifeSciences had a negative net margin of 0.42% and a positive return on equity of 12.35%. The business had revenue of $380.80 million for the quarter, compared to analyst estimates of $375.81 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The firm’s quarterly revenue was down .4% compared to the same quarter last year. Research analysts expect that Integra LifeSciences will post 2.45 earnings per share for the current year.

Insider Activity at Integra LifeSciences

In related news, EVP Michael J. Mcbreen sold 1,700 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $24.16, for a total transaction of $41,072.00. Following the completion of the sale, the executive vice president now directly owns 56,182 shares in the company, valued at approximately $1,357,357.12. This trade represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IART. KBC Group NV increased its position in shares of Integra LifeSciences by 65.2% in the third quarter. KBC Group NV now owns 2,839 shares of the life sciences company’s stock valued at $52,000 after acquiring an additional 1,120 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Integra LifeSciences by 599.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,267 shares of the life sciences company’s stock worth $74,000 after acquiring an additional 2,800 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Integra LifeSciences during the second quarter worth $114,000. Northwest Investment Counselors LLC bought a new position in Integra LifeSciences in the 3rd quarter valued at about $73,000. Finally, Romano Brothers AND Company bought a new position in shares of Integra LifeSciences during the fourth quarter worth approximately $204,000. 84.78% of the stock is owned by institutional investors and hedge funds.

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.