Integra Lifesciences (IART) Gets a Buy Rating from BTIG

By Carrie Williams

BTIG analyst Ryan Zimmerman maintained a Buy rating on Integra Lifesciences (NASDAQ: IART) on October 9 and set a price target of $69. The company’s shares closed yesterday at $60.14.

Zimmerman commented:

“We hosted investor meetings with mgmt. of IART which included President & CEO for multiple days of meetings in the Midwest. Investors were interested in understanding a variety of topics, including the Codman integration, wound, nerve, and dural repair market dynamics, OTT channel changes, as well as other areas of the business. We came away with a clearer picture of IART’s progression toward a higher growth company driven by sales force productivity improvements, product registrations OUS, and a growing pipeline from Codman (a previously underfunded asset). The Street may not be as focused on much of the back-office work that has taken place at IART over FY18 but mgmt. was confident in their ability to meet FY18 organic revenue growth guidance (~5%) and grow above that in FY19 and beyond. Our incremental takeaways are below.”

According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 28.5% and a 68.2% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, OrthoPediatrics Corp, and Stryker Corporation.

Integra Lifesciences has an analyst consensus of Hold, with a price target consensus of $63.50, representing a 5.6% upside. In a report issued on October 2, Oppenheimer also assigned a Buy rating to the stock.

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The company has a one-year high of $67.50 and a one-year low of $41.51. Currently, Integra Lifesciences has an average volume of 690.5K.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock.

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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.