Integra Lifesciences (NASDAQ:IART)‘s stock had its “buy” rating restated by equities researchers at BTIG Research in a report issued on Thursday. They currently have a $69.00 price target on the life sciences company’s stock. BTIG Research’s price target indicates a potential upside of 14.73% from the company’s previous close.
The analysts wrote, “We hosted investor meetings with mgmt. of IART which included President & CEO for multiple days of meetings in the Midwest. Investors were interested in understanding a variety of topics, including the Codman integration, wound, nerve, and dural repair market dynamics, OTT channel changes, as well as other areas of the business. We came away with a clearer picture of IART’s progression toward a higher growth company driven by sales force productivity improvements, product registrations OUS, and a growing pipeline from Codman (a previously underfunded asset). The Street may not be as focused on much of the back-office work that has taken place at IART over FY18 but mgmt. was confident in their ability to meet FY18 organic revenue growth guidance (~5%) and grow above that in FY19 and beyond. Our incremental takeaways are below.””
IART has been the topic of a number of other research reports. Cantor Fitzgerald reiterated a “hold” rating and issued a $59.00 target price on shares of Integra Lifesciences in a research report on Wednesday, July 25th. BidaskClub cut Integra Lifesciences from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. Zacks Investment Research cut Integra Lifesciences from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Oppenheimer restated a “buy” rating on shares of Integra Lifesciences in a report on Friday, August 17th. Finally, Citigroup cut Integra Lifesciences from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $64.00 to $66.00 in a report on Monday, July 2nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $61.38.
Integra Lifesciences stock opened at $60.14 on Thursday. Integra Lifesciences has a 12-month low of $41.51 and a 12-month high of $67.50. The company has a current ratio of 3.52, a quick ratio of 2.27 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 2.03 and a beta of 0.57.
Integra Lifesciences (NASDAQ:IART) last released its earnings results on Wednesday, July 25th. The life sciences company reported $0.60 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.60. Integra Lifesciences had a return on equity of 17.43% and a net margin of 5.10%. The firm had revenue of $366.20 million for the quarter, compared to analysts’ expectations of $368.08 million. During the same quarter in the previous year, the business posted $0.45 earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities analysts anticipate that Integra Lifesciences will post 2.4 earnings per share for the current fiscal year.
In related news, insider Jeffrey Mosebrook sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $62.42, for a total value of $62,420.00. Following the sale, the insider now directly owns 3,085 shares in the company, valued at $192,565.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stuart Essig sold 69,871 shares of the company’s stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $63.54, for a total value of $4,439,603.34. Following the completion of the sale, the director now owns 1,438,367 shares in the company, valued at $91,393,839.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,140 shares of company stock worth $7,054,647. Company insiders own 5.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in IART. FMR LLC lifted its stake in Integra Lifesciences by 11.8% in the second quarter. FMR LLC now owns 11,078,120 shares of the life sciences company’s stock valued at $713,542,000 after buying an additional 1,166,483 shares during the period. Janus Henderson Group PLC lifted its stake in Integra Lifesciences by 22.8% in the second quarter. Janus Henderson Group PLC now owns 1,966,341 shares of the life sciences company’s stock valued at $126,652,000 after buying an additional 365,254 shares during the period. Bank of New York Mellon Corp lifted its stake in Integra Lifesciences by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 744,153 shares of the life sciences company’s stock valued at $47,931,000 after buying an additional 17,431 shares during the period. Millennium Management LLC acquired a new position in Integra Lifesciences in the second quarter valued at approximately $46,263,000. Finally, OppenheimerFunds Inc. lifted its stake in Integra Lifesciences by 30.8% in the second quarter. OppenheimerFunds Inc. now owns 604,315 shares of the life sciences company’s stock valued at $38,924,000 after buying an additional 142,321 shares during the period. Institutional investors and hedge funds own 84.41% of the company’s stock.
Integra Lifesciences Company Profile
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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