Connor Clark & Lunn Investment Management Ltd. Acquires New Holdings in Integra LifeSciences Holdings Co. (NASDAQ:IART)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Integra LifeSciences Holdings Co. (NASDAQ:IART) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 235,062 shares of the life sciences company’s stock, valued at approximately $4,271,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.30% of Integra LifeSciences at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cooke & Bieler LP raised its position in shares of Integra LifeSciences by 12.4% during the 2nd quarter. Cooke & Bieler LP now owns 3,514,281 shares of the life sciences company’s stock worth $102,406,000 after purchasing an additional 388,710 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Integra LifeSciences by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,785,009 shares of the life sciences company’s stock valued at $52,014,000 after acquiring an additional 12,766 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Integra LifeSciences by 64.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 855,352 shares of the life sciences company’s stock valued at $24,925,000 after acquiring an additional 335,557 shares during the last quarter. AQR Capital Management LLC increased its position in Integra LifeSciences by 90.9% during the 2nd quarter. AQR Capital Management LLC now owns 611,798 shares of the life sciences company’s stock worth $17,436,000 after purchasing an additional 291,326 shares in the last quarter. Finally, Leeward Investments LLC MA raised its stake in Integra LifeSciences by 32.7% in the 2nd quarter. Leeward Investments LLC MA now owns 600,208 shares of the life sciences company’s stock valued at $17,490,000 after purchasing an additional 147,770 shares during the last quarter. Hedge funds and other institutional investors own 84.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. BTIG Research upgraded shares of Integra LifeSciences from a “sell” rating to a “neutral” rating in a report on Monday, October 7th. Bank of America cut their price target on Integra LifeSciences from $26.00 to $18.00 and set an “underperform” rating for the company in a report on Monday, October 7th. JMP Securities lowered their price objective on Integra LifeSciences from $40.00 to $35.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 30th. Citigroup upped their target price on Integra LifeSciences from $16.00 to $22.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. Finally, Truist Financial lowered their price target on Integra LifeSciences from $26.00 to $21.00 and set a “hold” rating for the company in a report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $24.00.

Integra LifeSciences Stock Performance

Integra LifeSciences stock opened at $23.58 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.73. Integra LifeSciences Holdings Co. has a 12 month low of $16.81 and a 12 month high of $45.42. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -262.00, a price-to-earnings-growth ratio of 0.78 and a beta of 1.08. The stock’s 50-day moving average is $20.08 and its 200-day moving average is $24.03.

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

About Integra LifeSciences

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.