Integra LifeSciences Holdings Corporation (IART) Upgraded to “Buy” by Zacks Investment Research
Integra LifeSciences Holdings Corporation (NASDAQ:IART) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $57.00 price objective on the life sciences company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.40% from the company’s current price.
According to Zacks, “Over the last six months, Integra Lifesciences has been trading above the broader industry. Moreover, the strong year over year increase in revenue on the back of solid performance of its Orthopedics and Tissue Technologies’ segment buoys optimism. We believe the company’s recent product diversification bolstered investors’ confidence, thereby boosting the stock price further. On the flip side, the company exited the second quarter of 2017 on somewhat disappointing note with earnings in line with the estimates and revenues missing the mark. We are concerned about the currency headwind that is expected to affect Integra’s financial performance in the rest of 2017. Also, contraction in adjusted operating margin and adjusted gross margin adds to the woes.”
Several other brokerages also recently weighed in on IART. UBS AG reissued a “buy” rating and issued a $60.00 price target (up previously from $48.00) on shares of Integra LifeSciences Holdings Corporation in a report on Friday, June 9th. Oppenheimer Holdings, Inc. set a $60.00 price objective on shares of Integra LifeSciences Holdings Corporation and gave the company a “buy” rating in a report on Saturday, June 24th. Cantor Fitzgerald began coverage on shares of Integra LifeSciences Holdings Corporation in a report on Thursday, June 29th. They set an “overweight” rating and a $65.00 price objective on the stock. BidaskClub lowered shares of Integra LifeSciences Holdings Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Raymond James Financial, Inc. increased their price objective on shares of Integra LifeSciences Holdings Corporation from $51.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $54.45.
Shares of Integra LifeSciences Holdings Corporation (NASDAQ IART) traded down 1.58% during midday trading on Tuesday, reaching $49.91. 381,897 shares of the company traded hands. The company has a market capitalization of $3.90 billion, a PE ratio of 60.87 and a beta of 0.72. The company has a 50 day moving average price of $50.57 and a 200 day moving average price of $49.02. Integra LifeSciences Holdings Corporation has a 1-year low of $37.71 and a 1-year high of $56.42.
Integra LifeSciences Holdings Corporation (NASDAQ:IART) last announced its earnings results on Wednesday, July 26th. The life sciences company reported $0.45 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. Integra LifeSciences Holdings Corporation had a return on equity of 16.79% and a net margin of 6.27%. The company had revenue of $282.16 million for the quarter, compared to analyst estimates of $283.58 million. During the same period in the prior year, the company posted $0.40 EPS. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, analysts expect that Integra LifeSciences Holdings Corporation will post $1.90 earnings per share for the current year.
In related news, Director Donald E. Morel, Jr. purchased 10,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were bought at an average cost of $49.25 per share, with a total value of $492,500.00. Following the transaction, the director now owns 29,612 shares of the company’s stock, valued at $1,458,391. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donald E. Morel, Jr. purchased 2,500 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $49.29 per share, for a total transaction of $123,225.00. Following the completion of the transaction, the director now directly owns 29,612 shares in the company, valued at approximately $1,459,575.48. The disclosure for this purchase can be found here. Insiders have acquired a total of 17,550 shares of company stock valued at $864,842 over the last three months. 21.50% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. LS Investment Advisors LLC grew its holdings in Integra LifeSciences Holdings Corporation by 90.7% during the first quarter. LS Investment Advisors LLC now owns 2,412 shares of the life sciences company’s stock worth $102,000 after acquiring an additional 1,147 shares during the period. Acrospire Investment Management LLC raised its position in Integra LifeSciences Holdings Corporation by 280.0% during the second quarter. Acrospire Investment Management LLC now owns 1,900 shares of the life sciences company’s stock valued at $104,000 after acquiring an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Integra LifeSciences Holdings Corporation by 223.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,534 shares of the life sciences company’s stock valued at $107,000 after acquiring an additional 1,751 shares in the last quarter. Turner Investments LLC purchased a new position in Integra LifeSciences Holdings Corporation during the first quarter valued at approximately $126,000. Finally, Riverhead Capital Management LLC raised its position in Integra LifeSciences Holdings Corporation by 49.9% during the second quarter. Riverhead Capital Management LLC now owns 2,399 shares of the life sciences company’s stock valued at $131,000 after acquiring an additional 799 shares in the last quarter. 84.90% of the stock is owned by institutional investors and hedge funds.
About Integra LifeSciences Holdings Corporation
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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