Clearline Capital LP Raises Holdings in Integra LifeSciences Holdings Co. (NASDAQ:IART)

Clearline Capital LP lifted its position in Integra LifeSciences Holdings Co. (NASDAQ:IART) by 226.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 230,397 shares of the life sciences company’s stock after purchasing an additional 159,903 shares during the quarter. Clearline Capital LP owned about 0.30% of Integra LifeSciences worth $4,186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IART. Blue Trust Inc. raised its holdings in shares of Integra LifeSciences by 100.5% during the 2nd quarter. Blue Trust Inc. now owns 886 shares of the life sciences company’s stock worth $26,000 after acquiring an additional 444 shares in the last quarter. CWM LLC raised its stake in Integra LifeSciences by 50.8% during the second quarter. CWM LLC now owns 1,262 shares of the life sciences company’s stock valued at $37,000 after purchasing an additional 425 shares in the last quarter. KBC Group NV lifted its position in Integra LifeSciences by 65.2% during the third quarter. KBC Group NV now owns 2,839 shares of the life sciences company’s stock valued at $52,000 after purchasing an additional 1,120 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Integra LifeSciences in the 3rd quarter worth $73,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Integra LifeSciences in the 2nd quarter worth about $114,000. 84.78% of the stock is owned by institutional investors.

Integra LifeSciences Price Performance

Integra LifeSciences stock opened at $24.58 on Monday. 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 stock has a market cap of $1.90 billion, a price-to-earnings ratio of -273.11, a price-to-earnings-growth ratio of 0.84 and a beta of 1.08. The firm has a 50-day moving average of $20.77 and a two-hundred day moving average of $23.98. Integra LifeSciences Holdings Co. has a 1 year low of $16.81 and a 1 year high of $45.42.

Integra LifeSciences (NASDAQ:IART) last announced its quarterly earnings results on Monday, November 4th. The life sciences company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $380.80 million during the quarter, compared to analyst estimates of $375.81 million. Integra LifeSciences had a positive return on equity of 12.35% and a negative net margin of 0.42%. Integra LifeSciences’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 earnings per share. On average, research analysts forecast that Integra LifeSciences Holdings Co. will post 2.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

IART has been the subject of several analyst reports. Citigroup raised their price objective on Integra LifeSciences from $16.00 to $22.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. Truist Financial dropped their price objective on shares of Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Bank of America dropped their price target on shares of Integra LifeSciences from $26.00 to $18.00 and set an “underperform” rating for the company in a research note on Monday, October 7th. Finally, BTIG Research raised shares of Integra LifeSciences from a “sell” rating to a “neutral” rating in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $24.00.

Integra LifeSciences 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.