Cantor Fitzgerald analyst Craig Bijou maintained a Hold rating on Integra Lifesciences (IART) today and set a price target of $57. The company’s shares closed yesterday at $53.02.
Bijou observed:
“We maintain our Neutral rating and 12-month price target of $57 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 2-star analyst with an average return of 1.0% and a 49.5% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Ra Medical Systems Inc, and Wright Medical Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Integra Lifesciences with a $60.14 average price target.
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Integra Lifesciences’ market cap is currently $4.52B and has a P/E ratio of 73.09. The company has a Price to Book ratio of 3.28.
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. Last month, Richard Caruso, a Major Shareholder at IART sold 30,128 shares for a total of $1,688,674.
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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.
