Short Interest in Integra LifeSciences Holdings Co. (NASDAQ:IART) Decreases By 20.8%

Integra LifeSciences Holdings Co. (NASDAQ:IART) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 4,100,000 shares, a decline of 20.8% from the October 31st total of 5,180,000 shares. Based on an average trading volume of 974,300 shares, the days-to-cover ratio is presently 4.2 days. Approximately 6.2% of the company’s shares are sold short.

Institutional Trading of Integra LifeSciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of Integra LifeSciences by 100.5% during the second quarter. Blue Trust Inc. now owns 886 shares of the life sciences company’s stock worth $26,000 after purchasing an additional 444 shares during the last quarter. CWM LLC increased its stake in shares of 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 acquiring an additional 425 shares during the period. KBC Group NV raised its holdings in Integra LifeSciences by 65.2% during the third quarter. KBC Group NV now owns 2,839 shares of the life sciences company’s stock worth $52,000 after purchasing an additional 1,120 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in Integra LifeSciences in the third quarter valued at about $73,000. Finally, Canada Pension Plan Investment Board acquired a new position in Integra LifeSciences during the 2nd quarter worth approximately $114,000. 84.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IART. Bank of America dropped their price objective on shares of Integra LifeSciences from $26.00 to $18.00 and set an “underperform” rating for the company in a report on Monday, October 7th. Truist Financial cut their price target on Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Citigroup lifted their price objective on Integra LifeSciences from $16.00 to $22.00 and gave the company a “sell” rating in a research note 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 investment 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.com, the company currently has a consensus rating of “Hold” and an average target price of $24.00.

Integra LifeSciences Stock Performance

Shares of Integra LifeSciences stock traded up $0.04 on Friday, hitting $24.58. The stock had a trading volume of 249,836 shares, compared to its average volume of 1,089,028. The company’s 50 day moving average price is $20.77 and its 200 day moving average price is $24.00. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -273.08, a P/E/G ratio of 0.83 and a beta of 1.08. 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 has a 52-week low of $16.81 and a 52-week high of $45.42.

Integra LifeSciences (NASDAQ:IART) last announced its earnings results on Monday, November 4th. The life sciences company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $380.80 million for the quarter, compared to analysts’ expectations of $375.81 million. Integra LifeSciences had a negative net margin of 0.42% and a positive return on equity of 12.35%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. On average, research analysts anticipate that Integra LifeSciences will post 2.45 EPS for the current year.

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.