Integra Lifesciences (IART) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Integra Lifesciences (NASDAQ:IART) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Integra LifeSciences exited the first quarter of 2019 on a mixed note with better-than-expected earnings and a revenue miss. However, organic revenue growth was encouraging and was in line with the company’s expectation. Within global neurosurgery business, sales in dural access and repair increased in mid-single digits on an organic basis with growth in both graft and sealant product lines. Benefiting from product launches and an enhanced sales force performance, the company envisions faster organic growth during the second half of 2019. On the flip side, escalating costs and expenses have been a major headwind for Integra Lifesciences. A tough competitive landscape adds to the woes.”

Other research analysts also recently issued reports about the stock. Oppenheimer reaffirmed a buy rating on shares of Integra Lifesciences in a research note on Tuesday, March 19th. JMP Securities reaffirmed a buy rating and issued a $62.00 target price on shares of Integra Lifesciences in a research note on Wednesday, February 27th. Morgan Stanley set a $57.00 target price on shares of Integra Lifesciences and gave the stock a hold rating in a research note on Friday, February 22nd. Cantor Fitzgerald reaffirmed a hold rating and issued a $50.00 target price on shares of Integra Lifesciences in a research note on Thursday, February 21st. Finally, BidaskClub raised shares of Integra Lifesciences from a sell rating to a hold rating in a research report on Wednesday, February 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $59.42.

Shares of NASDAQ IART opened at $49.43 on Wednesday. The company has a current ratio of 2.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.95. Integra Lifesciences has a 52 week low of $42.14 and a 52 week high of $67.50. The firm has a market capitalization of $4.23 billion, a P/E ratio of 20.43, a PEG ratio of 1.43 and a beta of 0.90.

Integra Lifesciences (NASDAQ:IART) last issued its earnings results on Wednesday, April 24th. The life sciences company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.61 by $0.04. Integra Lifesciences had a net margin of 5.60% and a return on equity of 15.60%. The company had revenue of $359.69 million for the quarter, compared to the consensus estimate of $361.12 million. During the same period in the previous year, the firm earned $0.58 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts anticipate that Integra Lifesciences will post 2.7 earnings per share for the current fiscal year.

In other Integra Lifesciences news, Director Rhonda Germany Ballintyn bought 1,933 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $56.08 per share, for a total transaction of $108,402.64. Following the acquisition, the director now owns 3,665 shares in the company, valued at approximately $205,533.20. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Christian S. Schade sold 15,658 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $51.56, for a total transaction of $807,326.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,077 shares of company stock worth $2,568,469. Insiders own 4.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in IART. JPMorgan Chase & Co. boosted its holdings in shares of Integra Lifesciences by 104.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 277,064 shares of the life sciences company’s stock valued at $18,251,000 after buying an additional 141,368 shares in the last quarter. Nordea Investment Management AB bought a new stake in shares of Integra Lifesciences during the 3rd quarter valued at $5,089,000. Retirement Systems of Alabama boosted its holdings in shares of Integra Lifesciences by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 91,666 shares of the life sciences company’s stock valued at $4,134,000 after buying an additional 352 shares in the last quarter. Cardinal Capital Management boosted its holdings in shares of Integra Lifesciences by 1.6% during the 4th quarter. Cardinal Capital Management now owns 17,899 shares of the life sciences company’s stock valued at $807,000 after buying an additional 287 shares in the last quarter. Finally, Legacy Financial Advisors Inc. bought a new stake in shares of Integra Lifesciences during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

About Integra Lifesciences

Integra LifeSciences Holdings Corporation develops, manufactures, and markets surgical implants and medical instruments for use in neurosurgery, extremity reconstruction, orthopedics, and general surgery. The company operates in two segments, Codman Specialty Surgical, and Orthopedics and Tissue Technologies.

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