PNC Financial Services Group Inc. boosted its position in Integra Lifesciences Holdings Corp (NASDAQ:IART) by 9.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,071 shares of the life sciences company’s stock after purchasing an additional 2,467 shares during the period. PNC Financial Services Group Inc.’s holdings in Integra Lifesciences were worth $1,367,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of IART. CSat Investment Advisory L.P. increased its stake in Integra Lifesciences by 100.9% during the 2nd quarter. CSat Investment Advisory L.P. now owns 655 shares of the life sciences company’s stock worth $31,000 after buying an additional 329 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Integra Lifesciences during the first quarter worth about $54,000. Fifth Third Bancorp increased its position in shares of Integra Lifesciences by 19.3% during the second quarter. Fifth Third Bancorp now owns 1,641 shares of the life sciences company’s stock worth $77,000 after acquiring an additional 266 shares during the last quarter. First Mercantile Trust Co. acquired a new position in shares of Integra Lifesciences in the second quarter worth about $119,000. Finally, Acadian Asset Management LLC purchased a new position in Integra Lifesciences in the first quarter valued at about $120,000. 84.85% of the stock is owned by hedge funds and other institutional investors.
IART stock opened at $45.52 on Friday. The company has a quick ratio of 2.86, a current ratio of 4.55 and a debt-to-equity ratio of 1.14. The firm’s 50-day simple moving average is $47.13 and its 200 day simple moving average is $47.62. The stock has a market cap of $3.84 billion, a PE ratio of -1,517.33, a price-to-earnings-growth ratio of 2.42 and a beta of 1.03. Integra Lifesciences Holdings Corp has a fifty-two week low of $34.21 and a fifty-two week high of $63.23.
Integra Lifesciences (NASDAQ:IART) last issued its quarterly earnings data on Monday, August 10th. The life sciences company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.23. Integra Lifesciences had a positive return on equity of 13.64% and a negative net margin of 0.25%. The business had revenue of $258.67 million during the quarter, compared to the consensus estimate of $252.54 million. During the same period in the previous year, the firm posted $0.73 earnings per share. The business’s revenue was down 32.6% on a year-over-year basis. Equities analysts forecast that Integra Lifesciences Holdings Corp will post 2.08 EPS for the current fiscal year.
In related news, COO Glenn Coleman sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $52.27, for a total transaction of $261,350.00. Following the transaction, the chief operating officer now owns 45,894 shares in the company, valued at $2,398,879.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Tru St Partnership, L.P. sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $46.97, for a total value of $9,394,000.00. Following the completion of the sale, the insider now owns 10,091,205 shares of the company’s stock, valued at $473,983,898.85. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.
IART has been the topic of a number of recent analyst reports. UBS Group upped their target price on Integra Lifesciences from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Oppenheimer raised their price objective on shares of Integra Lifesciences from $60.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Truist Financial boosted their target price on shares of Integra Lifesciences from $55.00 to $60.00 in a research report on Wednesday, August 12th. BidaskClub cut shares of Integra Lifesciences from a “sell” rating to a “strong sell” rating in a research report on Friday, August 21st. Finally, Credit Suisse Group boosted their price objective on Integra Lifesciences from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $57.85.
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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