Integra LifeSciences (NASDAQ:IART) Given New $28.00 Price Target at Citigroup

Integra LifeSciences (NASDAQ:IART) had its price objective increased by Citigroup from $24.00 to $28.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the life sciences company’s stock.

A number of other analysts have also issued reports on the stock. Morgan Stanley lowered their target price on shares of Integra LifeSciences from $37.00 to $24.00 and set an underweight rating for the company in a research note on Tuesday, May 7th. JMP Securities lowered their price objective on shares of Integra LifeSciences from $49.00 to $40.00 and set a market outperform rating for the company in a research report on Tuesday, May 7th. Wells Fargo & Company lowered shares of Integra LifeSciences from an overweight rating to an equal weight rating and reduced their target price for the stock from $45.00 to $25.00 in a research report on Tuesday, May 7th. Truist Financial lowered their price target on Integra LifeSciences from $37.00 to $25.00 and set a hold rating for the company in a report on Tuesday, May 7th. Finally, Bank of America decreased their target price on Integra LifeSciences from $42.00 to $26.00 and set an underperform rating for the company in a research report on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $35.00.

Integra LifeSciences Stock Performance

Shares of NASDAQ:IART opened at $28.31 on Wednesday. The company has a current ratio of 4.68, a quick ratio of 3.35 and a debt-to-equity ratio of 1.15. Integra LifeSciences has a 12 month low of $22.36 and a 12 month high of $46.75. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 56.62, a PEG ratio of 1.03 and a beta of 1.17. The firm’s 50-day moving average is $30.53 and its 200 day moving average is $37.34.

Integra LifeSciences (NASDAQ:IART) last released its earnings results on Monday, May 6th. The life sciences company reported $0.55 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 firm had revenue of $368.90 million for the quarter, compared to analysts’ expectations of $361.96 million. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Research analysts predict that Integra LifeSciences will post 3.03 EPS for the current year.

Insider Activity

In related news, Chairman Stuart Essig acquired 52,641 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $28.49 per share, for a total transaction of $1,499,742.09. Following the purchase, the chairman now directly owns 487,922 shares of the company’s stock, valued at approximately $13,900,897.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Integra LifeSciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC grew its holdings in Integra LifeSciences by 248.5% in the fourth quarter. Signaturefd LLC now owns 582 shares of the life sciences company’s stock worth $25,000 after purchasing an additional 415 shares during the last quarter. Hexagon Capital Partners LLC increased its position in Integra LifeSciences by 123.3% during 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. Gladius Capital Management LP purchased a new stake in Integra LifeSciences in the third quarter valued at about $47,000. Valley National Advisers Inc. acquired a new stake in Integra LifeSciences in the first quarter worth about $63,000. Finally, Covestor Ltd grew its stake in shares of Integra LifeSciences by 82.5% during the third quarter. Covestor Ltd now owns 2,037 shares of the life sciences company’s stock worth $78,000 after acquiring an additional 921 shares during the last quarter. Hedge funds and other institutional investors own 84.78% of the company’s stock.

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.