Integra LifeSciences (NASDAQ:IART) Sees Strong Trading Volume

Shares of Integra LifeSciences Holdings Co. (NASDAQ:IART) saw unusually-high trading volume on Tuesday . Approximately 439,018 shares changed hands during trading, a decline of 43% from the previous session’s volume of 765,387 shares.The stock last traded at $23.29 and had previously closed at $23.14.

Analysts Set New Price Targets

IART has been the subject of a number of analyst reports. Oppenheimer cut Integra LifeSciences from an “outperform” rating to a “market perform” rating in a report on Tuesday. Truist Financial cut their price objective on Integra LifeSciences from $37.00 to $25.00 and set a “hold” rating for the company in a report on Tuesday. Wells Fargo & Company cut Integra LifeSciences from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $45.00 to $25.00 in a report on Tuesday. StockNews.com cut Integra LifeSciences from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Morgan Stanley cut their price objective on Integra LifeSciences from $37.00 to $24.00 and set an “underweight” rating for the company in a report on Tuesday. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $36.80.

Integra LifeSciences Price Performance

The stock has a fifty day moving average of $33.33 and a 200-day moving average of $38.33. The company has a quick ratio of 2.18, a current ratio of 3.45 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $1.97 billion, a P/E ratio of 29.94, a PEG ratio of 0.87 and a beta of 1.17.

Integra LifeSciences (NASDAQ:IART) last announced its quarterly earnings data on Monday, May 6th. The life sciences company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The firm had revenue of $368.90 million during the quarter, compared to analyst estimates of $361.96 million. Integra LifeSciences had a return on equity of 15.19% and a net margin of 4.39%. The company’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the company earned $0.74 earnings per share. Equities analysts predict that Integra LifeSciences Holdings Co. will post 3.19 EPS for the current fiscal year.

Institutional Trading of Integra LifeSciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP increased its position in Integra LifeSciences by 235.1% in the first quarter. Quantbot Technologies LP now owns 43,991 shares of the life sciences company’s stock worth $1,559,000 after purchasing an additional 30,865 shares during the period. Duality Advisers LP grew its position in shares of Integra LifeSciences by 103.6% during the 1st quarter. Duality Advisers LP now owns 59,916 shares of the life sciences company’s stock worth $2,124,000 after buying an additional 30,484 shares during the period. Texas Permanent School Fund Corp grew its position in shares of Integra LifeSciences by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 59,524 shares of the life sciences company’s stock worth $2,110,000 after buying an additional 870 shares during the period. Buck Wealth Strategies LLC acquired a new position in shares of Integra LifeSciences during the 1st quarter worth about $1,719,000. Finally, Easterly Investment Partners LLC grew its position in shares of Integra LifeSciences by 1.7% during the 1st quarter. Easterly Investment Partners LLC now owns 300,059 shares of the life sciences company’s stock worth $10,637,000 after buying an additional 4,957 shares during the period. 84.78% of the stock is currently owned by institutional investors and hedge funds.

About Integra LifeSciences

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.