Cantor Fitzgerald analyst Craig Bijou maintained a Hold rating on Integra Lifesciences (NASDAQ: IART) yesterday and set a price target of $59. The company’s shares opened today at $65.52, close to its 52-week high of $66.24.
Bijou noted:
“We maintain our Neutral rating and 12-month price target of $59 on IART. Although we view IART’s long-range plan as impressive, we believe execution over the next few quarters is critical to restoring investor confidence in the stock. We think it is appropriate to stay on the sidelines at this time, but we might become more positive on the stock if the company were to execute on its integration and salesforce restructuring goals. We think IART is fairly valued at current levels, appropriately balancing the long-term opportunities with the risk of near-term disruption from the Codman acquisition and the changes to the OTT sales channel structure.”
According to TipRanks.com, Bijou is a 4-star analyst with an average return of 24.6% and a 67.7% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Wright Medical Group, and Stryker Corporation.
Integra Lifesciences has an analyst consensus of Moderate Buy, with a price target consensus of $65.
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Based on Integra Lifesciences’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $10.99 million. In comparison, last year the company had a net profit of $6.39 million.
Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, Richard Caruso, a Major Shareholder at IART sold 32,880 shares for a total of $1,764,998.
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Integra LifeSciences Holdings Corp. engages in the manufacture and sale of medical instruments, devices, and equipment. It operates through the Codman Specialty Surgical and Orthopedics and Tissue Technologies segments.
