Integra LifeSciences (NASDAQ:IART) Given New $32.00 Price Target at Truist Financial

Integra LifeSciences (NASDAQ:IART) had its target price raised by Truist Financial from $25.00 to $32.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the life sciences company’s stock. Truist Financial’s target price indicates a potential upside of 1.11% from the company’s current price.

A number of other brokerages have also issued reports on IART. StockNews.com lowered Integra LifeSciences from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Wells Fargo & Company cut Integra LifeSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $45.00 to $25.00 in a research note on Tuesday, May 7th. Citigroup boosted their price target on shares of Integra LifeSciences from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Bank of America reduced their price objective on shares of Integra LifeSciences from $42.00 to $26.00 and set an “underperform” rating for the company in a research report on Tuesday, May 7th. Finally, JMP Securities lowered their price objective on shares of Integra LifeSciences from $49.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.86.

Integra LifeSciences Stock Performance

IART opened at $31.65 on Tuesday. The company has a current ratio of 4.68, a quick ratio of 3.35 and a debt-to-equity ratio of 1.15. The business’s 50 day moving average is $29.06 and its 200-day moving average is $34.39. The stock has a market cap of $2.49 billion, a PE ratio of 63.30, a price-to-earnings-growth ratio of 1.08 and a beta of 1.11. Integra LifeSciences has a twelve month low of $22.36 and a twelve month high of $46.75.

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

Insider Activity

In other Integra LifeSciences news, Chairman Stuart Essig purchased 52,641 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $28.49 per share, with a total value of $1,499,742.09. Following the completion of the transaction, the chairman now owns 487,922 shares of the company’s stock, valued at $13,900,897.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Integra LifeSciences

Several institutional investors have recently made changes to their positions in IART. Capital Research Global Investors lifted its position in Integra LifeSciences by 37.7% in the 1st quarter. Capital Research Global Investors now owns 5,918,981 shares of the life sciences company’s stock worth $209,828,000 after buying an additional 1,621,655 shares in the last quarter. Norges Bank purchased a new stake in shares of Integra LifeSciences during the fourth quarter worth $29,272,000. Boston Partners acquired a new stake in Integra LifeSciences during the first quarter valued at $19,383,000. Point72 Europe London LLP grew its stake in 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 in the last quarter. Finally, Champlain Investment Partners LLC increased its position in Integra LifeSciences by 10.3% in the 1st quarter. Champlain Investment Partners LLC now owns 2,687,972 shares of the life sciences company’s stock worth $95,289,000 after purchasing an additional 252,015 shares during the last quarter. 84.78% of the stock is currently 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.