Integra LifeSciences (NASDAQ:IART) Now Covered by Morgan Stanley

Morgan Stanley assumed coverage on shares of Integra LifeSciences (NASDAQ:IART) in a research note published on Monday, MarketBeat Ratings reports. The firm issued an underweight rating and a $20.00 target price on the life sciences company’s stock.

A number of other brokerages have also recently issued reports on IART. BTIG Research raised shares of Integra LifeSciences from a “sell” rating to a “neutral” rating in a report on Monday, October 7th. Citigroup raised their price target on Integra LifeSciences from $16.00 to $22.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. Truist Financial reduced their price objective on Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Finally, Bank of America dropped their target price on Integra LifeSciences from $26.00 to $18.00 and set an “underperform” rating on the stock in a research report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $23.00.

Integra LifeSciences Price Performance

Shares of NASDAQ IART opened at $24.58 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -273.11, a price-to-earnings-growth ratio of 0.84 and a beta of 1.08. Integra LifeSciences has a twelve month low of $16.81 and a twelve month high of $45.42. The business has a 50 day simple moving average of $20.77 and a 200-day simple moving average of $23.96.

Integra LifeSciences (NASDAQ:IART) last released its earnings results on Monday, November 4th. The life sciences company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $380.80 million during the quarter, compared to analyst estimates of $375.81 million. Integra LifeSciences had a negative net margin of 0.42% and a positive return on equity of 12.35%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 earnings per share. As a group, equities research analysts expect that Integra LifeSciences will post 2.45 earnings per share for the current year.

Hedge Funds Weigh In On Integra LifeSciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC lifted its stake in shares of Integra LifeSciences by 181.1% in the 1st quarter. Jane Street Group LLC now owns 124,887 shares of the life sciences company’s stock worth $4,427,000 after acquiring an additional 80,463 shares during the period. SG Americas Securities LLC raised its holdings in Integra LifeSciences by 606.9% during the second quarter. SG Americas Securities LLC now owns 67,471 shares of the life sciences company’s stock worth $1,966,000 after purchasing an additional 57,927 shares in the last quarter. Versor Investments LP acquired a new stake in Integra LifeSciences in the third quarter worth approximately $612,000. Point72 Europe London LLP boosted its stake in Integra LifeSciences by 13.8% during the 2nd quarter. Point72 Europe London LLP now owns 546,035 shares of the life sciences company’s stock valued at $15,911,000 after purchasing an additional 66,400 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Integra LifeSciences during the 3rd quarter valued at $960,000. Institutional investors own 84.78% of the company’s stock.

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.