Integra Lifesciences (NASDAQ:IART) Upgraded to Hold at Zacks Investment Research

Integra Lifesciences (NASDAQ:IART) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports. The brokerage currently has a $64.00 price objective on the life sciences company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 7.58% from the stock’s previous close.

According to Zacks, “Integra exited fourth-quarter 2019 on a mixed note as its adjusted EPS beat the consensus mark but revenues lagged the same. The CSS segment benefitted from integration activities from the Codman acquisition, and venturing into faster-growing markets like China and Japan. Global sales in CSS in the fourth quarter were led by core neurosurgery portfolio, including product launches, strengths across Europe, and robust growth in China and Japan. Global performance in OTT is expected to improve due to benefits from the combination of new products. Expansion of both margins is encouraging as well. The 2020 guidance for organic revenue growth and adjusted EPS appears strong. Overall, Integra has outperformed the industry in the past month. However, weaker sales in outpatient settings and the effects of supply constraints in the reported quarter are concerning.”

IART has been the subject of several other reports. SunTrust Banks started coverage on shares of Integra Lifesciences in a research report on Friday, January 3rd. They set a “buy” rating and a $56.00 price objective for the company. Wells Fargo & Co set a $62.00 price objective on shares of Integra Lifesciences and gave the stock a “hold” rating in a research report on Friday, October 25th. Piper Jaffray Companies cut shares of Integra Lifesciences from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $59.00 to $58.00 in a research report on Tuesday, January 7th. Piper Sandler downgraded Integra Lifesciences from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $59.00 to $58.00 in a report on Tuesday, January 7th. Finally, Royal Bank of Canada set a $62.00 target price on Integra Lifesciences and gave the stock a “hold” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.08.

Shares of NASDAQ IART traded down $1.02 during midday trading on Friday, hitting $59.49. The company’s stock had a trading volume of 3,251 shares, compared to its average volume of 550,422. The business’s fifty day simple moving average is $57.63 and its two-hundred day simple moving average is $59.51. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.92 and a quick ratio of 1.92. Integra Lifesciences has a 1 year low of $46.07 and a 1 year high of $65.09. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 102.55, a price-to-earnings-growth ratio of 1.63 and a beta of 1.14.

Integra Lifesciences (NASDAQ:IART) last posted its quarterly earnings data on Wednesday, February 19th. The life sciences company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The business had revenue of $395.13 million during the quarter, compared to analyst estimates of $397.51 million. Integra Lifesciences had a net margin of 3.31% and a return on equity of 16.94%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. Analysts anticipate that Integra Lifesciences will post 3.01 EPS for the current fiscal year.

In other Integra Lifesciences news, VP Eric Schwartz sold 4,007 shares of Integra Lifesciences stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $62.25, for a total value of $249,435.75. Also, major shareholder Richard E. Caruso sold 491,205 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $59.42, for a total transaction of $29,187,401.10. Following the completion of the sale, the insider now directly owns 134,134 shares of the company’s stock, valued at $7,970,242.28. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IART. First National Bank of Omaha grew its stake in Integra Lifesciences by 8.8% in the 4th quarter. First National Bank of Omaha now owns 45,430 shares of the life sciences company’s stock valued at $2,648,000 after acquiring an additional 3,675 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Integra Lifesciences by 1.5% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 862,680 shares of the life sciences company’s stock valued at $51,822,000 after acquiring an additional 12,728 shares during the last quarter. Mackay Shields LLC acquired a new stake in Integra Lifesciences in the 3rd quarter valued at about $1,739,000. Public Employees Retirement System of Ohio grew its stake in Integra Lifesciences by 15.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 82,692 shares of the life sciences company’s stock valued at $4,967,000 after acquiring an additional 11,028 shares during the last quarter. Finally, Man Group plc grew its stake in Integra Lifesciences by 974.7% in the 3rd quarter. Man Group plc now owns 43,247 shares of the life sciences company’s stock valued at $2,597,000 after acquiring an additional 39,223 shares during the last quarter. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

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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