Principal Financial Group Inc. Acquires 63,266 Shares of Integra LifeSciences Holdings Co. (NASDAQ:IART)

Principal Financial Group Inc. increased its position in shares of Integra LifeSciences Holdings Co. (NASDAQ:IART - Free Report) by 18.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 401,432 shares of the life sciences company's stock after purchasing an additional 63,266 shares during the quarter. Principal Financial Group Inc. owned approximately 0.52% of Integra LifeSciences worth $7,294,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IART. Versor Investments LP acquired a new stake in shares of Integra LifeSciences during the third quarter worth approximately $612,000. BNP Paribas Financial Markets grew its position in Integra LifeSciences by 824.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 111,775 shares of the life sciences company's stock worth $2,031,000 after acquiring an additional 99,685 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Integra LifeSciences during the 3rd quarter valued at $960,000. Point72 Europe London LLP raised its position in Integra LifeSciences by 13.8% in the 2nd quarter. Point72 Europe London LLP now owns 546,035 shares of the life sciences company's stock valued at $15,911,000 after purchasing an additional 66,400 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new position in Integra LifeSciences in the 2nd quarter valued at $4,395,000. 84.78% of the stock is owned by institutional investors.

Integra LifeSciences Trading Up 0.9 %

Shares of NASDAQ:IART traded up $0.21 during midday trading on Wednesday, hitting $22.68. The company had a trading volume of 331,094 shares, compared to its average volume of 1,042,292. The firm has a fifty day simple moving average of $22.93 and a 200 day simple moving average of $23.00. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -251.97, a PEG ratio of 0.82 and a beta of 1.15. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 0.79. Integra LifeSciences Holdings Co. has a 12 month low of $16.81 and a 12 month high of $45.42.

Integra LifeSciences (NASDAQ:IART - Get Free Report) last issued its earnings results on Monday, November 4th. The life sciences company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. The firm had revenue of $380.80 million for the quarter, compared to analysts' expectations of $375.81 million. Integra LifeSciences had a positive return on equity of 12.35% and a negative net margin of 0.42%. The company's revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.76 earnings per share. On average, analysts predict that Integra LifeSciences Holdings Co. will post 2.45 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IART. Bank of America lowered their target price on Integra LifeSciences from $26.00 to $18.00 and set an "underperform" rating for the company in a research note on Monday, October 7th. Morgan Stanley assumed coverage on shares of Integra LifeSciences in a research report on Monday, December 2nd. They set an "underweight" rating and a $20.00 target price on the stock. Truist Financial decreased their price target on shares of Integra LifeSciences from $26.00 to $21.00 and set a "hold" rating on the stock in a research note on Monday, October 14th. Citigroup upped their price objective on Integra LifeSciences from $16.00 to $22.00 and gave the stock a "sell" rating in a report on Tuesday, November 5th. Finally, BTIG Research raised Integra LifeSciences from a "sell" rating to a "neutral" rating in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Integra LifeSciences currently has a consensus rating of "Hold" and an average target price of $23.00.

Insiders Place Their Bets

In other news, EVP Michael J. Mcbreen sold 1,700 shares of Integra LifeSciences stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $24.16, for a total transaction of $41,072.00. Following the transaction, the executive vice president now owns 56,182 shares in the company, valued at $1,357,357.12. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.10% 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.