Insider Buying: Integra LifeSciences Holdings Co. (NASDAQ:IART) Chairman Purchases 52,641 Shares of Stock

Integra LifeSciences Holdings Co. (NASDAQ:IART) Chairman Stuart Essig purchased 52,641 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average price of $28.49 per share, for a total transaction of $1,499,742.09. Following the completion of the transaction, the chairman now directly owns 487,922 shares in the company, valued at approximately $13,900,897.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Integra LifeSciences Price Performance

IART stock traded down $0.20 during midday trading on Friday, reaching $28.31. 814,733 shares of the company’s stock traded hands, compared to its average volume of 869,844. The company has a quick ratio of 3.35, a current ratio of 4.68 and a debt-to-equity ratio of 1.15. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 56.30, a PEG ratio of 1.02 and a beta of 1.17. The company has a 50-day simple moving average of $30.66 and a two-hundred day simple moving average of $37.42. Integra LifeSciences Holdings Co. has a 1-year low of $22.36 and a 1-year high of $46.75.

Integra LifeSciences (NASDAQ:IART) last released its quarterly earnings results on Monday, May 6th. The life sciences company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. Integra LifeSciences had a return on equity of 14.27% and a net margin of 2.63%. The business had revenue of $368.90 million during the quarter, compared to analysts’ expectations of $361.96 million. During the same period in the previous year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, analysts anticipate that Integra LifeSciences Holdings Co. will post 3.03 earnings per share for the current year.

Analyst Ratings Changes

IART has been the topic of a number of recent analyst reports. Bank of America cut their price objective on Integra LifeSciences from $42.00 to $26.00 and set an “underperform” rating on the stock in a research note on Tuesday, May 7th. StockNews.com downgraded shares of Integra LifeSciences from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Morgan Stanley dropped their price objective on shares of Integra LifeSciences from $37.00 to $24.00 and set an “underweight” rating on the stock in a report on Tuesday, May 7th. Truist Financial cut their price objective on shares of Integra LifeSciences from $37.00 to $25.00 and set a “hold” rating for the company in a research report on Tuesday, May 7th. Finally, JMP Securities decreased their target price on Integra LifeSciences from $49.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.80.

Institutional Trading of Integra LifeSciences

Hedge funds have recently modified their holdings of the stock. Capital Research Global Investors raised its holdings in shares of Integra LifeSciences by 37.7% during the first quarter. Capital Research Global Investors now owns 5,918,981 shares of the life sciences company’s stock worth $209,828,000 after acquiring an additional 1,621,655 shares during the period. Deerfield Management Company L.P. Series C bought a new position in Integra LifeSciences in the 3rd quarter valued at about $43,034,000. Norges Bank acquired a new stake in Integra LifeSciences during the fourth quarter worth approximately $29,272,000. Assenagon Asset Management S.A. bought a new stake in shares of Integra LifeSciences during the third quarter worth approximately $25,443,000. Finally, Point72 Europe London LLP grew its position in shares of Integra LifeSciences by 54.9% in the fourth quarter. Point72 Europe London LLP now owns 719,663 shares of the life sciences company’s stock valued at $31,341,000 after purchasing an additional 255,201 shares during the last quarter. 84.78% of the stock is owned by institutional investors.

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.