Integra LifeSciences (IART) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research cut shares of Integra LifeSciences (NASDAQ:IART) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Integra LifeSciences exited the third quarter of 2017 on a disappointing note with earnings and revenues both missing the respective Zacks Consensus Estimate. Also, contraction in adjusted operating margin and adjusted gross margin adds to the woes. Also the company’s decision to sell its certain neurosurgery assets to Natus Medical may hamper its business in near term. However, the strong year-over-year increase in revenues on the back of strong growth within Orthopedics and Tissue Technologies segment buoys optimism. Raised full-year revenue guidance is indicative of this bullish trend to remain. We are happy with the fact that, the company is efficiently executing its growth plan through an efficient management team. However, the slashed full-year adjusted earnings range remains a concern. Overall, over the last six months, Integra Lifesciences has been trading slightly above the broader industry.”
A number of other analysts also recently commented on the stock. Oppenheimer set a $58.00 price objective on shares of Integra LifeSciences and gave the stock a buy rating in a report on Tuesday. Royal Bank of Canada reissued a sector perform rating and set a $50.00 price objective (up previously from $48.00) on shares of Integra LifeSciences in a report on Thursday, November 9th. UBS reissued a buy rating and set a $57.00 price objective on shares of Integra LifeSciences in a report on Tuesday, October 31st. Wells Fargo & Company downgraded shares of Integra LifeSciences from an outperform rating to a market perform rating in a report on Sunday, October 29th. Finally, Jefferies Group reissued a buy rating and set a $56.00 price objective on shares of Integra LifeSciences in a report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $53.64.
Integra LifeSciences (NASDAQ:IART) last issued its earnings results on Thursday, October 26th. The life sciences company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.02). The firm had revenue of $278.83 million during the quarter, compared to analysts’ expectations of $286.00 million. Integra LifeSciences had a net margin of 4.52% and a return on equity of 16.35%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. sell-side analysts forecast that Integra LifeSciences will post 1.84 earnings per share for the current fiscal year.
In other Integra LifeSciences news, Director Barbara B. Hill bought 10,768 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was bought at an average price of $46.66 per share, for a total transaction of $502,434.88. Following the completion of the transaction, the director now owns 55,540 shares in the company, valued at approximately $2,591,496.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard D. Gorelick sold 1,500 shares of Integra LifeSciences stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $47.19, for a total transaction of $70,785.00. Following the transaction, the vice president now owns 21,665 shares of the company’s stock, valued at approximately $1,022,371.35. The disclosure for this sale can be found here. Insiders own 21.50% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in IART. Acrospire Investment Management LLC raised its position in Integra LifeSciences by 280.0% during the second quarter. Acrospire Investment Management LLC now owns 1,900 shares of the life sciences company’s stock worth $104,000 after acquiring an additional 1,400 shares during the last quarter. Riverhead Capital Management LLC raised its position in Integra LifeSciences by 49.9% during the second quarter. Riverhead Capital Management LLC now owns 2,399 shares of the life sciences company’s stock worth $131,000 after acquiring an additional 799 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Integra LifeSciences by 8.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,752 shares of the life sciences company’s stock worth $150,000 after acquiring an additional 218 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of Integra LifeSciences in the third quarter valued at approximately $169,000. Finally, San Francisco Sentry Investment Group CA acquired a new position in shares of Integra LifeSciences in the second quarter valued at approximately $174,000. Institutional investors own 87.62% of the company’s stock.
About Integra LifeSciences
Integra LifeSciences Holdings Corporation is a medical technology company. The Company focuses on the development, manufacturing, and marketing of surgical implants and medical instruments. Its segments include Specialty Surgical Solutions, which offers specialty surgical instrumentation for a range of specialties, including product portfolio used in the neurosurgery operating suite and critical care unit, and Orthopedics and Tissue Technologies, which includes differentiated soft tissue repair and tissue regeneration products, and small bone fixation and joint replacement solutions.
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