Rubric Capital Management LP Purchases Shares of 293,083 Integra LifeSciences Holdings Co. (NASDAQ:IART)

Rubric Capital Management LP acquired a new position in Integra LifeSciences Holdings Co. (NASDAQ:IART) in the third quarter, Holdings Channel.com reports. The firm acquired 293,083 shares of the life sciences company’s stock, valued at approximately $5,325,000.

Several other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. grew its position in Integra LifeSciences by 100.5% during the second quarter. Blue Trust Inc. now owns 886 shares of the life sciences company’s stock valued at $26,000 after acquiring an additional 444 shares during the last quarter. CWM LLC grew its holdings in shares of Integra LifeSciences by 50.8% during the 2nd quarter. CWM LLC now owns 1,262 shares of the life sciences company’s stock valued at $37,000 after purchasing an additional 425 shares during the last quarter. KBC Group NV grew its holdings in shares of Integra LifeSciences by 65.2% during the 3rd quarter. KBC Group NV now owns 2,839 shares of the life sciences company’s stock valued at $52,000 after purchasing an additional 1,120 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Integra LifeSciences in the 2nd quarter worth $114,000. Finally, Northwest Investment Counselors LLC bought a new stake in Integra LifeSciences in the third quarter worth $73,000. 84.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IART has been the topic of several analyst reports. Bank of America decreased their price objective on Integra LifeSciences from $26.00 to $18.00 and set an “underperform” rating on the stock in a report on Monday, October 7th. Truist Financial lowered their price objective on Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Monday, October 14th. JMP Securities cut their target price on shares of Integra LifeSciences from $40.00 to $35.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 30th. Citigroup increased their price target on shares of Integra LifeSciences from $16.00 to $22.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. Finally, BTIG Research raised shares of Integra LifeSciences from a “sell” rating to a “neutral” rating in a report on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Integra LifeSciences has a consensus rating of “Hold” and an average price target of $24.00.

Integra LifeSciences Price Performance

IART stock opened at $23.70 on Wednesday. Integra LifeSciences Holdings Co. has a 1 year low of $16.81 and a 1 year high of $45.42. The firm has a 50-day moving average of $20.22 and a 200 day moving average of $24.02. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.73.

Integra LifeSciences (NASDAQ:IART) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The company 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 firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 earnings per share. As a group, equities research analysts anticipate that Integra LifeSciences Holdings Co. will post 2.45 EPS for the current fiscal year.

Integra LifeSciences 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.