Integra Lifesciences (IART) Price Target Cut to $60.00 by Analysts at Citigroup

Integra Lifesciences (NASDAQ:IART) had its price objective reduced by stock analysts at Citigroup from $66.00 to $60.00 in a research note issued on Friday. The firm presently has a “neutral” rating on the life sciences company’s stock. Citigroup’s target price suggests a potential upside of 11.82% from the stock’s current price.

IART has been the topic of a number of other reports. Oppenheimer reissued a “buy” rating and set a $70.00 price target on shares of Integra Lifesciences in a research report on Wednesday. Cantor Fitzgerald reissued a “hold” rating and set a $59.00 price target on shares of Integra Lifesciences in a research report on Wednesday, July 25th. JMP Securities reduced their price target on shares of Integra Lifesciences from $66.00 to $62.00 and set a “market outperform” rating on the stock in a research report on Friday. BidaskClub cut shares of Integra Lifesciences from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. Finally, Zacks Investment Research cut shares of Integra Lifesciences from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. Integra Lifesciences has an average rating of “Hold” and an average price target of $61.00.

IART stock traded down $0.79 during midday trading on Friday, reaching $53.66. The company’s stock had a trading volume of 859,674 shares, compared to its average volume of 656,786. Integra Lifesciences has a 52 week low of $45.96 and a 52 week high of $67.50. The stock has a market cap of $4.57 billion, a PE ratio of 27.66, a PEG ratio of 1.66 and a beta of 0.76. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.27 and a current ratio of 3.52.

Integra Lifesciences (NASDAQ:IART) last announced its quarterly earnings data on Wednesday, October 31st. The life sciences company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. Integra Lifesciences had a net margin of 5.49% and a return on equity of 18.01%. The firm had revenue of $365.85 million for the quarter, compared to analysts’ expectations of $367.89 million. During the same period last year, the firm earned $0.45 earnings per share. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. As a group, sell-side analysts predict that Integra Lifesciences will post 2.39 earnings per share for the current fiscal year.

In related news, VP Glenn Coleman sold 8,916 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $63.00, for a total value of $561,708.00. Following the sale, the vice president now directly owns 16,795 shares of the company’s stock, valued at approximately $1,058,085. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Richard E. Caruso sold 46,676 shares of the business’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $63.19, for a total transaction of $2,949,456.44. Following the completion of the sale, the insider now directly owns 134,134 shares in the company, valued at $8,475,927.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,592 shares of company stock worth $3,573,584. Insiders own 5.10% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its position in Integra Lifesciences by 11.8% in the 2nd quarter. FMR LLC now owns 11,078,120 shares of the life sciences company’s stock valued at $713,542,000 after acquiring an additional 1,166,483 shares in the last quarter. Janus Henderson Group PLC lifted its position in Integra Lifesciences by 22.8% in the 2nd quarter. Janus Henderson Group PLC now owns 1,966,341 shares of the life sciences company’s stock valued at $126,652,000 after acquiring an additional 365,254 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Integra Lifesciences by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 744,153 shares of the life sciences company’s stock valued at $47,931,000 after acquiring an additional 17,431 shares in the last quarter. Millennium Management LLC bought a new stake in Integra Lifesciences in the 2nd quarter valued at $46,263,000. Finally, OppenheimerFunds Inc. lifted its position in Integra Lifesciences by 30.8% in the 2nd quarter. OppenheimerFunds Inc. now owns 604,315 shares of the life sciences company’s stock valued at $38,924,000 after acquiring an additional 142,321 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

About Integra Lifesciences

Integra LifeSciences Holdings Corporation develops, manufactures, and markets surgical implants and medical instruments for use in neurosurgery, extremity reconstruction, orthopedics, and general surgery. The company operates in two segments, Codman Specialty Surgical, and Orthopedics and Tissue Technologies.

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Analyst Recommendations for Integra Lifesciences (NASDAQ:IART)

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