Integra LifeSciences (NASDAQ:IART) Trading Down 2.9% – Here’s What Happened

Shares of Integra LifeSciences Holdings Co. (NASDAQ:IART) were down 2.9% during trading on Wednesday . The company traded as low as $22.04 and last traded at $21.97. Approximately 61,191 shares traded hands during trading, a decline of 94% from the average daily volume of 999,725 shares. The stock had previously closed at $22.62.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley started coverage on shares of Integra LifeSciences in a research note on Monday, December 2nd. They set an “underweight” rating and a $20.00 target price for the company. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Integra LifeSciences presently has a consensus rating of “Hold” and an average target price of $23.00.

Integra LifeSciences Trading Down 0.8 %

The stock has a market capitalization of $1.74 billion, a PE ratio of -250.81, a PEG ratio of 0.73 and a beta of 1.23. 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 business’s 50-day moving average is $23.84 and its two-hundred day moving average is $22.02.

Integra LifeSciences (NASDAQ:IART) last announced its quarterly earnings results on Tuesday, February 25th. The life sciences company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.12. Integra LifeSciences had a negative net margin of 0.42% and a positive return on equity of 12.35%. The firm had revenue of $442.65 million during the quarter, compared to analysts’ expectations of $445.15 million. During the same period in the previous year, the company earned $0.89 earnings per share. Integra LifeSciences’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts anticipate that Integra LifeSciences Holdings Co. will post 2.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Integra LifeSciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its holdings in shares of Integra LifeSciences by 5,960.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,394 shares of the life sciences company’s stock valued at $32,000 after buying an additional 1,371 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Integra LifeSciences by 821.7% during the fourth quarter. Sterling Capital Management LLC now owns 2,166 shares of the life sciences company’s stock worth $49,000 after acquiring an additional 1,931 shares during the period. KBC Group NV increased its stake in shares of Integra LifeSciences by 65.2% during the third quarter. KBC Group NV now owns 2,839 shares of the life sciences company’s stock worth $52,000 after acquiring an additional 1,120 shares during the period. Nisa Investment Advisors LLC increased its stake 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 worth $74,000 after acquiring an additional 2,800 shares during the period. Finally, Covestor Ltd increased its stake in shares of Integra LifeSciences by 61.8% during the fourth quarter. Covestor Ltd now owns 5,423 shares of the life sciences company’s stock worth $123,000 after acquiring an additional 2,071 shares during the period. 84.78% of the stock is owned by hedge funds and other 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.