Integra LifeSciences (NASDAQ:IART) Downgraded by Wells Fargo & Company to Equal Weight

Wells Fargo & Company lowered shares of Integra LifeSciences (NASDAQ:IART) from an overweight rating to an equal weight rating in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has $25.00 price objective on the life sciences company’s stock, down from their previous price objective of $45.00.

Other research analysts also recently issued research reports about the company. Citigroup raised Integra LifeSciences from a sell rating to a neutral rating and set a $38.00 price target on the stock in a research note on Wednesday, April 3rd. Truist Financial cut their target price on Integra LifeSciences from $46.00 to $41.00 and set a hold rating on the stock in a research note on Friday, March 1st. JMP Securities decreased their target price on Integra LifeSciences from $55.00 to $49.00 and set a market outperform rating for the company in a research report on Thursday, February 29th. Finally, StockNews.com downgraded shares of Integra LifeSciences from a buy rating to a hold rating in a research report on Tuesday, April 30th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Integra LifeSciences presently has an average rating of Hold and an average target price of $36.80.

Integra LifeSciences Price Performance

Shares of IART stock opened at $25.08 on Tuesday. The company has a quick ratio of 2.18, a current ratio of 3.45 and a debt-to-equity ratio of 0.94. Integra LifeSciences has a 12 month low of $22.36 and a 12 month high of $51.12. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 0.87 and a beta of 1.17. The stock has a 50-day moving average price of $32.95 and a 200 day moving average price of $38.24.

Integra LifeSciences (NASDAQ:IART) last issued its quarterly earnings results on Monday, May 6th. The life sciences company reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. Integra LifeSciences had a net margin of 4.39% and a return on equity of 15.19%. The company had revenue of $368.90 million during the quarter, compared to analysts’ expectations of $361.96 million. During the same quarter in the previous year, the company earned $0.74 EPS. Integra LifeSciences’s revenue was down 3.2% on a year-over-year basis. Research analysts expect that Integra LifeSciences will post 3.19 EPS for the current year.

Institutional Trading of Integra LifeSciences

Several hedge funds have recently bought and sold shares of the stock. Signaturefd LLC increased its position in shares of Integra LifeSciences by 248.5% during the fourth quarter. Signaturefd LLC now owns 582 shares of the life sciences company’s stock worth $25,000 after acquiring an additional 415 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in Integra LifeSciences by 123.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 670 shares of the life sciences company’s stock worth $29,000 after purchasing an additional 370 shares during the period. Gladius Capital Management LP bought a new position in Integra LifeSciences during the 3rd quarter worth about $47,000. Valley National Advisers Inc. acquired a new stake in shares of Integra LifeSciences in the 1st quarter valued at about $63,000. Finally, Covestor Ltd lifted its holdings in shares of Integra LifeSciences by 82.5% in the third quarter. Covestor Ltd now owns 2,037 shares of the life sciences company’s stock valued at $78,000 after purchasing an additional 921 shares in the last quarter. 84.78% of the stock is currently owned by institutional investors and hedge funds.

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.