Integra LifeSciences (NASDAQ:IART) Shares Down 7.8% Following Analyst Downgrade

Integra LifeSciences Holdings Co. (NASDAQ:IART - Get Free Report) shares traded down 7.8% during trading on Friday after Truist Financial lowered their price target on the stock from $26.00 to $19.00. Truist Financial currently has a hold rating on the stock. Integra LifeSciences traded as low as $16.00 and last traded at $16.06. 178,151 shares were traded during trading, a decline of 83% from the average session volume of 1,046,059 shares. The stock had previously closed at $17.42.

Separately, Argus raised shares of Integra LifeSciences from a "hold" rating to a "buy" rating in a research report on Monday, March 31st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $22.71.

Institutional Investors Weigh In On Integra LifeSciences

A number of institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership grew its holdings in Integra LifeSciences by 7.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 13,756 shares of the life sciences company's stock valued at $312,000 after purchasing an additional 913 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Integra LifeSciences by 5,960.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,394 shares of the life sciences company's stock worth $32,000 after acquiring an additional 1,371 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Integra LifeSciences by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,466 shares of the life sciences company's stock worth $872,000 after purchasing an additional 1,437 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Integra LifeSciences by 821.7% in the fourth quarter. Sterling Capital Management LLC now owns 2,166 shares of the life sciences company's stock worth $49,000 after purchasing an additional 1,931 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Integra LifeSciences by 61.8% in the 4th 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 currently owned by hedge funds and other institutional investors.

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Integra LifeSciences Price Performance

The business has a 50-day simple moving average of $22.08 and a two-hundred day simple moving average of $22.34. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -178.65, a P/E/G ratio of 0.73 and a beta of 1.24. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.79.

Integra LifeSciences (NASDAQ:IART - Get Free Report) last issued its 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. The company had revenue of $442.65 million for the quarter, compared to the consensus estimate of $445.15 million. Integra LifeSciences had a positive return on equity of 12.35% and a negative net margin of 0.42%. The firm's quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. As a group, research analysts predict that Integra LifeSciences Holdings Co. will post 2.45 earnings per share for the current fiscal year.

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.