Sachem Head Capital Management LP Makes New $44.15 Million Investment in Integra LifeSciences Holdings Co. (NASDAQ:IART)

Sachem Head Capital Management LP 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 2,430,000 shares of the life sciences company’s stock, valued at approximately $44,153,000. Integra LifeSciences comprises 2.3% of Sachem Head Capital Management LP’s portfolio, making the stock its 14th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Integra LifeSciences by 100.5% during the second quarter. Blue Trust Inc. now owns 886 shares of the life sciences company’s stock worth $26,000 after buying an additional 444 shares in the last quarter. CWM LLC grew its holdings in Integra LifeSciences by 50.8% in 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 during the period. KBC Group NV grew its holdings in Integra LifeSciences by 65.2% in 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 period. Northwest Investment Counselors LLC purchased a new stake in Integra LifeSciences in the third quarter valued at approximately $73,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Integra LifeSciences in the second quarter valued at approximately $114,000. Institutional investors and hedge funds own 84.78% of the company’s stock.

Analyst Ratings Changes

IART has been the subject of a number of recent analyst reports. Citigroup boosted their target price on shares of Integra LifeSciences from $16.00 to $22.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. Truist Financial decreased 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. BTIG Research upgraded shares of Integra LifeSciences from a “sell” rating to a “neutral” rating in a research note on Monday, October 7th. Morgan Stanley initiated coverage on shares of Integra LifeSciences in a research note on Monday. They set an “underweight” rating and a $20.00 price objective for the company. Finally, Bank of America decreased their price objective 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. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $23.00.

Integra LifeSciences Stock Down 2.1 %

IART opened at $24.11 on Thursday. The firm’s fifty day moving average price is $21.05 and its 200 day moving average price is $23.92. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.79. Integra LifeSciences Holdings Co. has a 12-month low of $16.81 and a 12-month high of $45.42.

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

Insider Buying and Selling at Integra LifeSciences

In other Integra LifeSciences news, EVP Michael J. Mcbreen sold 1,700 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $24.16, for a total transaction of $41,072.00. Following the completion of the sale, the executive vice president now owns 56,182 shares in the company, valued at $1,357,357.12. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by insiders.

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.