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Integra LifeSciences Holdings Corporation (NASDAQ: IART) Stock: Can It Go Higher?

In the last trading session, 6.4 million shares of the Integra LifeSciences Holdings Corporation (NASDAQ:IART) were traded, and its beta was 1.16. Most recently the company’s share price was $40.48, and it changed around -$10.24 or -20.19% from the last close, which brings the market valuation of the company to $3.31B. IART currently trades at a discount to its 52-week high of $62.99, offering almost -55.61% off that amount. The share price’s 52-week low was $40.67, which indicates that the current value has fallen by an impressive -0.47% since then. We note from Integra LifeSciences Holdings Corporation’s average daily trading volume that its 10-day average is 0.97 million shares, with the 3-month average coming to 489.52K.

Integra LifeSciences Holdings Corporation stock received a consensus recommendation rating of a Hold, based on a mean score of 2.80. If we narrow it down even further, the data shows that 1 out of 14 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 8 recommended IART as a Hold, whereas 3 deemed it a Buy, and 2 rated it as Underweight. Integra LifeSciences Holdings Corporation is expected to report earnings per share of $0.77 for the current quarter.

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Integra LifeSciences Holdings Corporation (NASDAQ:IART) trade information

Instantly IART has showed a red trend with a performance of -20.19% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 50.78 on Tuesday, 05/23/23 increased the stock’s daily price by 20.28%. The company’s shares are currently down -27.80% year-to-date, but still down -17.32% over the last five days. On the other hand, Integra LifeSciences Holdings Corporation (NASDAQ:IART) is -31.13% down in the 30-day period. We can see from the shorts that 3.69 million shares have been sold at a short interest cover period of 8.07 day(s).

The consensus price target as assigned by Wall Street analysts is $54.20, which translates to bulls needing to increase their stock price by 25.31% from its current value. Analyst projections state that IART is forecast to be at a low of $39.00 and a high of $66.00. In order for the stock price to hit the forecast high, the stock would need to plunge -63.04% from its current level, while the stock would need to crash 3.66% from its current level to reach the projected low.

Integra LifeSciences Holdings Corporation (IART) estimates and forecasts

Integra LifeSciences Holdings Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -24.14 percent over the past six months and at a 2.68% annual growth rate that is well below the industry average of 9.20%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -4.90% in revenue this quarter, and will report an increase of 7.00% in the next quarter. The year-over-year growth rate is expected to be 3.40%, up from the previous year.

Consensus estimates provided by 10 financial analysts predict the company will bring in an average of $398.13 million in revenue for the current quarter. 10 analysts expect Integra LifeSciences Holdings Corporation to make $405.83 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $397.81 million and $378.32 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 0.10%. Forecasts for the next quarter put sales growth at 7.30%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 9.60%. Integra LifeSciences Holdings Corporation earnings are expected to increase by 9.30% in 2023, but the outlook is positive 7.00% per year for the next five years.

IART Dividends

Integra LifeSciences Holdings Corporation’s next quarterly earnings report is expected to be released around July 25 and July 31.

Integra LifeSciences Holdings Corporation (NASDAQ:IART)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 13.09% of Integra LifeSciences Holdings Corporation shares, and 94.60% of them are in the hands of institutional investors. The stock currently has a share float of 108.84%. Integra LifeSciences Holdings Corporation stock is held by 384 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 8.58% of the shares, which is about 7.03 million shares worth $284.39 million.

Blackrock Inc., with 8.56% or 7.01 million shares worth $283.88 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Smallcap World Fund and Eaton Vance Tax-Managed Growth Portfolio were the top two Mutual Funds as of Dec 30, 2022. The former held 3.3 million shares worth $133.41 million, making up 4.02% of all outstanding shares. On the other hand, Eaton Vance Tax-Managed Growth Portfolio held roughly 2.96 million shares worth around $119.65 million, which represents about 3.61% of the total shares outstanding.

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