Integra LifeSciences (NASDAQ:IART) Stock Price Down 5.3% - Here's What Happened

Integra LifeSciences Holdings Co. (NASDAQ:IART - Get Free Report) shares fell 5.3% during mid-day trading on Wednesday . The company traded as low as $24.33 and last traded at $24.32. 61,246 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 534,235 shares. The stock had previously closed at $25.68.

Analysts Set New Price Targets

IART has been the topic of several research reports. Citigroup upped their price target on Integra LifeSciences from $16.00 to $22.00 and gave the company a "sell" rating in a research report on Tuesday, November 5th. Morgan Stanley initiated coverage on Integra LifeSciences in a research report on Monday, December 2nd. They set an "underweight" rating and a $20.00 price target on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Integra LifeSciences has a consensus rating of "Hold" and a consensus target price of $23.00.

Integra LifeSciences Price Performance

The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.73. The company has a 50-day simple moving average of $23.86 and a two-hundred day simple moving average of $21.82. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -268.64, a price-to-earnings-growth ratio of 0.87 and a beta of 1.17.

Insiders Place Their Bets

In other news, EVP Michael J. Mcbreen sold 1,700 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $24.16, for a total value of $41,072.00. Following the completion of the transaction, the executive vice president now owns 56,182 shares of the company's stock, valued at approximately $1,357,357.12. This represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IART. Sachem Head Capital Management LP bought a new position in shares of Integra LifeSciences in the third quarter worth $44,153,000. Lord Abbett & CO. LLC grew its stake in shares of Integra LifeSciences by 86.8% in 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 purchasing an additional 618,773 shares in the last quarter. Glenmede Trust Co. NA grew its stake in shares of Integra LifeSciences by 125.9% in the third quarter. Glenmede Trust Co. NA now owns 727,781 shares of the life sciences company's stock worth $13,224,000 after purchasing an additional 405,624 shares in the last quarter. Norges Bank bought a new position in shares of Integra LifeSciences in the fourth quarter worth $8,967,000. Finally, Rubric Capital Management LP bought a new position in shares of Integra LifeSciences in the third quarter worth $5,325,000. 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.