Integra LifeSciences Holdings Co. (NASDAQ:IART) Sees Significant Drop in Short Interest

Integra LifeSciences Holdings Co. (NASDAQ:IART) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 3,240,000 shares, a decline of 6.1% from the December 15th total of 3,450,000 shares. Approximately 4.9% of the shares of the stock are short sold. Based on an average trading volume of 786,000 shares, the short-interest ratio is presently 4.1 days.

Integra LifeSciences Stock Performance

Shares of IART traded up $0.86 during mid-day trading on Friday, hitting $24.10. 762,836 shares of the company’s stock traded hands, compared to its average volume of 463,388. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.73. The business’s 50-day moving average price is $23.20 and its 200-day moving average price is $22.45. Integra LifeSciences has a 1 year low of $16.81 and a 1 year high of $45.42.

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

Insider Transactions at Integra LifeSciences

In related news, EVP Michael J. Mcbreen sold 1,700 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $24.16, for a total transaction of $41,072.00. Following the transaction, the executive vice president now directly owns 56,182 shares of the company’s stock, valued at approximately $1,357,357.12. This trade represents a 2.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Integra LifeSciences

Several hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in Integra LifeSciences by 18.7% in the 3rd quarter. Principal Financial Group Inc. now owns 401,432 shares of the life sciences company’s stock worth $7,294,000 after purchasing an additional 63,266 shares in the last quarter. Versor Investments LP bought a new position in shares of Integra LifeSciences during the third quarter valued at $612,000. BNP Paribas Financial Markets boosted its position in shares of Integra LifeSciences by 824.5% during the third quarter. BNP Paribas Financial Markets now owns 111,775 shares of the life sciences company’s stock valued at $2,031,000 after buying an additional 99,685 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Integra LifeSciences in the 3rd quarter worth about $960,000. Finally, Point72 Europe London LLP lifted 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 acquiring an additional 66,400 shares during the period. Institutional investors own 84.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on IART. Bank of America decreased their price target on shares of Integra LifeSciences from $26.00 to $18.00 and set an “underperform” rating on the stock in a research note on Monday, October 7th. BTIG Research upgraded shares of Integra LifeSciences from a “sell” rating to a “neutral” rating in a research report on Monday, October 7th. Truist Financial decreased their price objective on Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Morgan Stanley began coverage on Integra LifeSciences in a report on Monday, December 2nd. They set an “underweight” rating and a $20.00 target price for the company. Finally, Citigroup lifted their price target on Integra LifeSciences from $16.00 to $22.00 and gave the stock a “sell” rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.00.

Integra LifeSciences Company Profile

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.