Integra LifeSciences (NASDAQ:IART) Shares Gap Up - Still a Buy?

Shares of Integra LifeSciences Holdings Co. (NASDAQ:IART - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $19.28, but opened at $22.00. Integra LifeSciences shares last traded at $23.30, with a volume of 340,208 shares traded.

Wall Street Analysts Forecast Growth

IART has been the subject of several analyst reports. Bank of America dropped their price target on shares of Integra LifeSciences from $26.00 to $18.00 and set an "underperform" rating for the company in a research note on Monday, October 7th. Truist Financial decreased their price target on shares of Integra LifeSciences from $26.00 to $21.00 and set a "hold" rating for the company in a research report on Monday, October 14th. BTIG Research upgraded Integra LifeSciences from a "sell" rating to a "neutral" rating in a research note on Monday, October 7th. Citigroup cut their price target on Integra LifeSciences from $20.00 to $16.00 and set a "sell" rating on the stock in a report on Tuesday, October 1st. Finally, Morgan Stanley lifted their price objective on Integra LifeSciences from $24.00 to $27.00 and gave the company an "underweight" rating in a research note on Monday, July 15th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $26.50.

Integra LifeSciences Stock Performance

The stock's 50 day moving average price is $18.62 and its two-hundred day moving average price is $24.46. The company has a current ratio of 3.39, a quick ratio of 2.10 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 83.17, a PEG ratio of 0.64 and a beta of 1.08.

Institutional Investors Weigh In On Integra LifeSciences

A number of institutional investors and hedge funds have recently modified their holdings of IART. State of Michigan Retirement System boosted its position in Integra LifeSciences by 2.5% during the first quarter. State of Michigan Retirement System now owns 16,690 shares of the life sciences company's stock worth $592,000 after purchasing an additional 400 shares in the last quarter. Nordea Investment Management AB grew its stake in Integra LifeSciences by 16.0% in the 1st quarter. Nordea Investment Management AB now owns 110,695 shares of the life sciences company's stock valued at $3,840,000 after acquiring an additional 15,244 shares during the last quarter. FORA Capital LLC acquired a new position in Integra LifeSciences during the first quarter worth about $329,000. Jennison Associates LLC lifted its holdings in shares of Integra LifeSciences by 4.8% in the first quarter. Jennison Associates LLC now owns 181,299 shares of the life sciences company's stock valued at $6,427,000 after purchasing an additional 8,382 shares in the last quarter. Finally, Easterly Investment Partners LLC grew its position in shares of Integra LifeSciences by 1.7% in the first quarter. Easterly Investment Partners LLC now owns 300,059 shares of the life sciences company's stock valued at $10,637,000 after purchasing an additional 4,957 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.