Integra LifeSciences (NASDAQ:IART) Stock Price Down 4.3% – Here’s Why

Integra LifeSciences Holdings Co. (NASDAQ:IART) traded down 4.3% on Wednesday . The stock traded as low as $22.71 and last traded at $22.92. 50,096 shares changed hands during trading, a decline of 92% from the average session volume of 656,643 shares. The stock had previously closed at $23.95.

Wall Street Analyst Weigh In

Separately, Morgan Stanley assumed coverage on Integra LifeSciences in a research report on Monday, December 2nd. They set an “underweight” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.00.

Integra LifeSciences Stock Performance

The firm has a 50 day moving average of $23.82 and a 200-day moving average of $21.94. 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 company has a market cap of $1.72 billion, a P/E ratio of -247.41, a PEG ratio of 0.73 and a beta of 1.23.

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

Hedge Funds Weigh In On Integra LifeSciences

A number of hedge funds have recently made changes to their positions in IART. Sachem Head Capital Management LP acquired a new position in shares of Integra LifeSciences during the third quarter valued at approximately $44,153,000. Soleus Capital Management L.P. acquired a new stake in Integra LifeSciences during the fourth quarter worth $28,940,000. Paradigm Capital Management Inc. NY increased its stake in Integra LifeSciences by 170.3% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,431,100 shares of the life sciences company’s stock worth $32,457,000 after acquiring an additional 901,600 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Integra LifeSciences by 86.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,332,031 shares of the life sciences company’s stock worth $30,210,000 after acquiring an additional 618,773 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its stake in Integra LifeSciences by 125.9% during the third quarter. Glenmede Trust Co. NA now owns 727,781 shares of the life sciences company’s stock worth $13,224,000 after acquiring an additional 405,624 shares during the last quarter. Institutional investors and hedge funds own 84.78% of the company’s stock.

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.