State of Alaska Department of Revenue Decreases Position in Integra LifeSciences Holdings Co. (NASDAQ:IART)

Posted by Defense World Staff on Oct 17th, 2023

State of Alaska Department of Revenue trimmed its holdings in Integra LifeSciences Holdings Co. (NASDAQ:IART – Free Report) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,505 shares of the life sciences company’s stock after selling 1,172 shares during the quarter. State of Alaska Department of Revenue’s holdings in Integra LifeSciences were worth $925,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Integra LifeSciences by 2.8% in the third quarter. Vanguard Group Inc. now owns 6,929,606 shares of the life sciences company’s stock worth $293,538,000 after buying an additional 189,772 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Integra LifeSciences by 15.3% in the fourth quarter. Alliancebernstein L.P. now owns 2,896,633 shares of the life sciences company’s stock worth $162,414,000 after buying an additional 384,941 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Integra LifeSciences by 6.3% in the first quarter. Clearbridge Investments LLC now owns 2,743,399 shares of the life sciences company’s stock worth $157,499,000 after buying an additional 163,308 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Integra LifeSciences by 2.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,519,743 shares of the life sciences company’s stock worth $97,658,000 after buying an additional 37,025 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Integra LifeSciences by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,380,036 shares of the life sciences company’s stock worth $88,686,000 after buying an additional 23,877 shares during the period. 84.13% of the stock is currently owned by hedge funds and other institutional investors.

Integra LifeSciences Stock Up 0.3 %

Integra LifeSciences stock opened at $38.38 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.78 and a quick ratio of 1.85. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.55 and a beta of 1.21. Integra LifeSciences Holdings Co. has a 1-year low of $37.23 and a 1-year high of $60.69. The business has a fifty day moving average price of $40.42 and a 200-day moving average price of $44.59.

Integra LifeSciences (NASDAQ:IART – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The life sciences company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.14. The firm had revenue of $381.30 million during the quarter, compared to analysts’ expectations of $388.79 million. Integra LifeSciences had a return on equity of 15.60% and a net margin of 8.49%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 EPS. Equities research analysts forecast that Integra LifeSciences Holdings Co. will post 3.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on IART. Truist Financial raised their price objective on Integra LifeSciences from $44.00 to $48.00 in a report on Wednesday, July 19th. Piper Sandler reduced their price objective on Integra LifeSciences from $55.00 to $44.00 in a report on Monday, June 26th. Morgan Stanley downgraded Integra LifeSciences from an “equal weight” rating to an “underweight” rating and set a $44.00 price objective on the stock. in a report on Thursday, August 24th. Jefferies Financial Group upgraded Integra LifeSciences from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $58.00 to $53.00 in a report on Wednesday, July 12th. Finally, StockNews.com cut Integra LifeSciences from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.29.

Read Our Latest Stock Report on IART

Integra LifeSciences Company Profile

(Free Report)

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.