2,430,000 Shares in Integra LifeSciences Holdings Co. (NASDAQ:IART) Bought by Sachem Head Capital Management LP

Sachem Head Capital Management LP bought a new stake in shares of Integra LifeSciences Holdings Co. (NASDAQ:IART - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,430,000 shares of the life sciences company's stock, valued at approximately $44,153,000. Integra LifeSciences accounts for approximately 2.3% of Sachem Head Capital Management LP's investment portfolio, making the stock its 14th biggest holding. Sachem Head Capital Management LP owned about 3.15% of Integra LifeSciences at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in shares of Integra LifeSciences by 100.5% during the 2nd quarter. Blue Trust Inc. now owns 886 shares of the life sciences company's stock worth $26,000 after purchasing an additional 444 shares in the last quarter. CWM LLC boosted its stake in Integra LifeSciences by 50.8% during the second quarter. CWM LLC now owns 1,262 shares of the life sciences company's stock worth $37,000 after buying an additional 425 shares in the last quarter. KBC Group NV increased its holdings in Integra LifeSciences by 65.2% in the 3rd quarter. KBC Group NV now owns 2,839 shares of the life sciences company's stock valued at $52,000 after buying an additional 1,120 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Integra LifeSciences in the 3rd quarter valued at $73,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Integra LifeSciences during the 2nd quarter worth about $114,000. Institutional investors and hedge funds own 84.78% of the company's stock.

Insider Transactions at Integra LifeSciences

In related news, EVP Michael J. Mcbreen sold 1,700 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $24.16, for a total transaction of $41,072.00. Following the sale, the executive vice president now owns 56,182 shares of the company's stock, valued at approximately $1,357,357.12. This trade represents a 2.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.10% of the company's stock.

Integra LifeSciences Trading Up 0.2 %

Shares of IART traded up $0.04 on Thursday, reaching $24.15. 404,983 shares of the company's stock were exchanged, compared to its average volume of 1,079,686. The business has a 50 day moving average price of $21.19 and a two-hundred day moving average price of $23.92. Integra LifeSciences Holdings Co. has a 12 month low of $16.81 and a 12 month high of $45.42. The stock has a market capitalization of $1.86 billion, a P/E ratio of -267.86, a price-to-earnings-growth ratio of 0.84 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 (NASDAQ:IART - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The life sciences company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. Integra LifeSciences had a positive return on equity of 12.35% and a negative net margin of 0.42%. The company had revenue of $380.80 million for the quarter, compared to the consensus estimate of $375.81 million. During the same quarter in the prior year, the business posted $0.76 EPS. The firm's quarterly revenue was down .4% on a year-over-year basis. Research analysts anticipate that Integra LifeSciences Holdings Co. will post 2.45 earnings per share for the current year.

Analysts Set New Price Targets

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

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.