Integra LifeSciences (NASDAQ:IART) Rating Lowered to Equal Weight at Wells Fargo & Company

Integra LifeSciences (NASDAQ:IART) was downgraded by equities research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a note issued to investors on Tuesday, Marketbeat reports. They presently have a $25.00 target price on the life sciences company’s stock, down from their previous target price of $45.00. Wells Fargo & Company‘s price objective would indicate a potential upside of 0.36% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Citigroup raised Integra LifeSciences from a “sell” rating to a “neutral” rating and set a $38.00 price target for the company in a research note on Wednesday, April 3rd. StockNews.com downgraded shares of Integra LifeSciences from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Truist Financial dropped their price target on Integra LifeSciences from $46.00 to $41.00 and set a “hold” rating on the stock in a research note on Friday, March 1st. Finally, JMP Securities reduced their price objective on shares of Integra LifeSciences from $55.00 to $49.00 and set a “market outperform” rating for the company in a research report on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $36.80.

Integra LifeSciences Stock Performance

NASDAQ:IART opened at $24.91 on Tuesday. The stock’s 50-day moving average is $32.67 and its 200-day moving average is $38.15. The stock has a market cap of $1.96 billion, a P/E ratio of 30.01, a price-to-earnings-growth ratio of 0.87 and a beta of 1.17. Integra LifeSciences has a 1-year low of $22.36 and a 1-year high of $50.78. The company has a current ratio of 3.45, a quick ratio of 2.18 and a debt-to-equity ratio of 0.94.

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

Hedge Funds Weigh In On Integra LifeSciences

Several institutional investors have recently modified their holdings of the business. Signaturefd LLC boosted its position in Integra LifeSciences by 248.5% in the fourth quarter. Signaturefd LLC now owns 582 shares of the life sciences company’s stock worth $25,000 after purchasing an additional 415 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Integra LifeSciences by 123.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 670 shares of the life sciences company’s stock worth $29,000 after purchasing an additional 370 shares during the period. Gladius Capital Management LP purchased a new position in shares of Integra LifeSciences in the 3rd quarter worth about $47,000. Valley National Advisers Inc. purchased a new position in shares of Integra LifeSciences in the 1st quarter worth about $63,000. Finally, Covestor Ltd grew its position in Integra LifeSciences by 82.5% during the third quarter. Covestor Ltd now owns 2,037 shares of the life sciences company’s stock valued at $78,000 after buying an additional 921 shares during the period. 84.78% of the stock is owned by institutional investors.

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.