Morgan Stanley Trims Integra LifeSciences (NASDAQ:IART) Target Price to $24.00

Integra LifeSciences (NASDAQ:IART) had its target price decreased by research analysts at Morgan Stanley from $37.00 to $24.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the life sciences company’s stock. Morgan Stanley’s target price indicates a potential downside of 3.38% from the company’s current price.

IART has been the topic of a number of other research reports. Bank of America reduced their price objective on Integra LifeSciences from $42.00 to $26.00 and set an “underperform” rating on the stock in a research note on Tuesday. Truist Financial reduced their price objective on Integra LifeSciences from $37.00 to $25.00 and set a “hold” rating on the stock in a research note on Tuesday. Wells Fargo & Company lowered Integra LifeSciences from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $45.00 to $25.00 in a research report on Tuesday. JMP Securities dropped their target price on Integra LifeSciences from $49.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Tuesday. Finally, Citigroup raised Integra LifeSciences from a “sell” rating to a “neutral” rating and set a $38.00 target price on the stock in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $36.80.

Integra LifeSciences Trading Up 7.3 %

Integra LifeSciences stock traded up $1.70 during midday trading on Tuesday, reaching $24.84. The stock had a trading volume of 1,979,736 shares, compared to its average volume of 785,230. Integra LifeSciences has a twelve month low of $22.36 and a twelve month high of $51.12. The stock has a market capitalization of $1.95 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 0.87 and a beta of 1.17. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.18 and a current ratio of 3.45. The stock’s 50-day simple moving average is $33.33 and its 200 day simple moving average is $38.33.

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

Hedge Funds Weigh In On Integra LifeSciences

Institutional investors have recently made changes to their positions in the stock. Raymond James & Associates boosted its position in shares of Integra LifeSciences by 28.7% during the third quarter. Raymond James & Associates now owns 204,325 shares of the life sciences company’s stock worth $7,803,000 after buying an additional 45,554 shares during the period. Strs Ohio raised its holdings in Integra LifeSciences by 6.9% during the third quarter. Strs Ohio now owns 41,730 shares of the life sciences company’s stock valued at $1,593,000 after buying an additional 2,679 shares in the last quarter. Advisor Partners II LLC acquired a new stake in shares of Integra LifeSciences in the third quarter valued at about $241,000. Inspire Investing LLC grew its position in shares of Integra LifeSciences by 5.1% in the third quarter. Inspire Investing LLC now owns 8,004 shares of the life sciences company’s stock valued at $306,000 after purchasing an additional 392 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Integra LifeSciences by 451.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 70,827 shares of the life sciences company’s stock worth $2,705,000 after buying an additional 57,993 shares in the last quarter. 84.78% of the stock is owned by institutional investors.

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.