Integra Lifesciences Holdings Corp (NASDAQ:IART) Sees Large Decline in Short Interest

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Integra Lifesciences Holdings Corp (NASDAQ:IART) saw a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 3,100,000 shares, a decrease of 10.1% from the August 31st total of 3,450,000 shares. Based on an average daily volume of 465,900 shares, the short-interest ratio is presently 6.7 days. Approximately 4.4% of the shares of the stock are short sold.

Shares of NASDAQ:IART traded down $0.04 during trading on Friday, reaching $47.23. 238,941 shares of the company traded hands, compared to its average volume of 578,125. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -1,574.33, a P/E/G ratio of 2.42 and a beta of 1.03. Integra Lifesciences has a 52-week low of $34.21 and a 52-week high of $63.23. The company has a current ratio of 4.55, a quick ratio of 2.86 and a debt-to-equity ratio of 1.14. The business’s fifty day moving average is $46.86 and its 200-day moving average is $47.58.

Integra Lifesciences (NASDAQ:IART) last announced its quarterly earnings results on Monday, August 10th. The life sciences company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $258.67 million during the quarter, compared to analyst estimates of $252.54 million. During the same quarter last year, the firm posted $0.73 earnings per share. The firm’s revenue was down 32.6% on a year-over-year basis. On average, sell-side analysts predict that Integra Lifesciences will post 2.08 earnings per share for the current fiscal year.

In related news, COO Glenn Coleman sold 5,000 shares of the company’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 value of $261,350.00. Following the transaction, the chief operating officer now directly owns 45,894 shares in the company, valued at $2,398,879.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $9,394,000.00. Following the completion of the transaction, the insider now owns 10,091,205 shares in the company, valued at $473,983,898.85. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in IART. Amundi Pioneer Asset Management Inc. purchased a new stake in Integra Lifesciences in the first quarter worth $329,000. Acadian Asset Management LLC purchased a new stake in Integra Lifesciences in the first quarter worth $120,000. Victory Capital Management Inc. lifted its stake in Integra Lifesciences by 12.6% in the first quarter. Victory Capital Management Inc. now owns 22,913 shares of the life sciences company’s stock worth $1,024,000 after acquiring an additional 2,560 shares during the period. US Bancorp DE lifted its stake in Integra Lifesciences by 57.8% in the first quarter. US Bancorp DE now owns 10,085 shares of the life sciences company’s stock worth $451,000 after acquiring an additional 3,694 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in Integra Lifesciences by 969.4% in the first quarter. BNP Paribas Arbitrage SA now owns 74,208 shares of the life sciences company’s stock worth $3,315,000 after acquiring an additional 67,269 shares during the period. 84.85% of the stock is owned by institutional investors.

Several research analysts recently weighed in on the stock. Truist Financial upped their price objective on shares of Integra Lifesciences from $55.00 to $60.00 in a research report on Wednesday, August 12th. Oppenheimer reaffirmed a “buy” rating and issued a $68.00 target price on shares of Integra Lifesciences in a research note on Tuesday. BidaskClub lowered Integra Lifesciences from a “sell” rating to a “strong sell” rating in a research note on Friday, August 21st. Credit Suisse Group upped their target price on Integra Lifesciences from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Finally, UBS Group upped their target price on Integra Lifesciences from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target 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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