Citigroup Raises Integra LifeSciences (NASDAQ:IART) Price Target to $22.00

Integra LifeSciences (NASDAQ:IART) had its target price boosted by stock analysts at Citigroup from $16.00 to $22.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “sell” rating on the life sciences company’s stock. Citigroup’s target price suggests a potential downside of 9.28% from the company’s current price.

Other analysts have also issued research reports about the stock. JMP Securities lowered their price objective on shares of Integra LifeSciences from $40.00 to $35.00 and set a “market outperform” rating on the stock in a research report on Tuesday, July 30th. Bank of America dropped their price objective on Integra LifeSciences from $26.00 to $18.00 and set an “underperform” rating on the stock in a research note on Monday, October 7th. BTIG Research raised Integra LifeSciences from a “sell” rating to a “neutral” rating in a research report on Monday, October 7th. Truist Financial lowered their target price on Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Finally, Morgan Stanley lifted their price objective on Integra LifeSciences from $24.00 to $27.00 and gave the stock an “underweight” rating in a report on Monday, July 15th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Integra LifeSciences presently has a consensus rating of “Hold” and an average target price of $27.25.

Integra LifeSciences Stock Performance

Shares of Integra LifeSciences stock traded up $0.13 during mid-day trading on Tuesday, hitting $24.25. 253,489 shares of the stock were exchanged, compared to its average volume of 1,094,781. The company has a market capitalization of $1.88 billion, a P/E ratio of 84.14, a P/E/G ratio of 0.66 and a beta of 1.08. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.10 and a current ratio of 3.39. The company has a 50-day simple moving average of $18.62 and a 200 day simple moving average of $24.46. Integra LifeSciences has a 12 month low of $16.81 and a 12 month high of $45.42.

Integra LifeSciences (NASDAQ:IART) last posted its quarterly earnings data 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 return on equity of 14.07% and a net margin of 1.51%. The business had revenue of $380.80 million for the quarter, compared to analysts’ expectations of $375.81 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The business’s revenue was down .4% on a year-over-year basis. Sell-side analysts anticipate that Integra LifeSciences will post 2.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new stake in shares of Integra LifeSciences in the third quarter worth about $960,000. Versor Investments LP bought a new stake in Integra LifeSciences during the 3rd quarter worth approximately $612,000. Olstein Capital Management L.P. lifted its stake in Integra LifeSciences by 37.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 155,000 shares of the life sciences company’s stock worth $2,816,000 after purchasing an additional 42,000 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Integra LifeSciences by 18.7% in the 3rd quarter. Principal Financial Group Inc. now owns 401,432 shares of the life sciences company’s stock valued at $7,294,000 after purchasing an additional 63,266 shares during the period. Finally, New York State Teachers Retirement System grew its position in shares of Integra LifeSciences by 3.0% during the 3rd quarter. New York State Teachers Retirement System now owns 90,098 shares of the life sciences company’s stock valued at $1,637,000 after purchasing an additional 2,616 shares in the last quarter. 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.