Integra LifeSciences (NASDAQ:IART) Shares Gap Down to $31.43

Integra LifeSciences Holdings Co. (NASDAQ:IART)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $31.43, but opened at $24.75. Integra LifeSciences shares last traded at $23.33, with a volume of 722,502 shares changing hands.

Wall Street Analyst Weigh In

IART has been the topic of several recent analyst reports. Wells Fargo & Company cut Integra LifeSciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $45.00 to $25.00 in a report on Tuesday, May 7th. Oppenheimer cut shares of Integra LifeSciences from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 7th. Bank of America dropped their price objective on shares of Integra LifeSciences from $42.00 to $26.00 and set an “underperform” rating for the company in a report on Tuesday, May 7th. Morgan Stanley raised their price target on Integra LifeSciences from $24.00 to $27.00 and gave the company an “underweight” rating in a research report on Monday, July 15th. Finally, Citigroup upped their price objective on Integra LifeSciences from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Integra LifeSciences currently has a consensus rating of “Hold” and a consensus target price of $32.86.

Integra LifeSciences Stock Performance

The company has a quick ratio of 3.35, a current ratio of 4.68 and a debt-to-equity ratio of 1.15. The company has a fifty day moving average price of $29.75 and a 200 day moving average price of $33.78. The stock has a market cap of $2.12 billion, a PE ratio of 62.86, a P/E/G ratio of 1.14 and a beta of 1.11.

Integra LifeSciences (NASDAQ:IART) last announced its quarterly earnings data on Monday, May 6th. The life sciences company reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. Integra LifeSciences had a return on equity of 14.27% and a net margin of 2.63%. The firm had revenue of $368.90 million during the quarter, compared to the consensus estimate of $361.96 million. During the same quarter in the previous year, the company posted $0.74 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. Analysts expect that Integra LifeSciences Holdings Co. will post 3.03 earnings per share for the current year.

Insider Buying and Selling at Integra LifeSciences

In other Integra LifeSciences news, Chairman Stuart Essig bought 52,641 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average cost of $28.49 per share, with a total value of $1,499,742.09. Following the completion of the purchase, the chairman now directly owns 487,922 shares of the company’s stock, valued at $13,900,897.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IART. Raymond James & Associates increased its position in shares of Integra LifeSciences by 1.4% during the fourth quarter. Raymond James & Associates now owns 207,228 shares of the life sciences company’s stock valued at $9,025,000 after buying an additional 2,903 shares during the period. Pacer Advisors Inc. raised its position in shares of Integra LifeSciences by 71.9% in the 4th quarter. Pacer Advisors Inc. now owns 10,223 shares of the life sciences company’s stock worth $445,000 after acquiring an additional 4,276 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Integra LifeSciences in the 4th quarter valued at approximately $190,000. Olstein Capital Management L.P. lifted its stake in shares of Integra LifeSciences by 4.2% in the 4th quarter. Olstein Capital Management L.P. now owns 74,000 shares of the life sciences company’s stock valued at $3,223,000 after purchasing an additional 3,000 shares during the period. Finally, GHP Investment Advisors Inc. boosted its position in shares of Integra LifeSciences by 9.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 57,724 shares of the life sciences company’s stock valued at $2,514,000 after purchasing an additional 4,928 shares in the last quarter. 84.78% of the stock is owned by hedge funds and other institutional investors.

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.