Wells Fargo analyst Vik Chopra maintained a Buy rating on Integra Lifesciences (IART – Research Report) yesterday and set a price target of $49.00.
Vik Chopra has assigned a Buy rating to Integra Lifesciences (IART) based on recent positive regulatory developments. The company has secured a 510(k) approval for its CereLink intracranial pressure monitors from the U.S. Food and Drug Administration (FDA), which aligns with the company’s projected timeline to reintroduce the product in the U.S. market within the first quarter. This approval comes after the company addressed issues of out-of-range readings in the device by implementing design changes.
The rationale behind the Buy rating also considers the company’s proactive approach in dealing with the CereLink monitors’ previous issues. Integra Lifesciences had previously initiated a voluntary global recall of the monitors due to reports of out-of-range readings caused by electrical noise and potential differences. The company’s effective management of the situation, as evidenced by the resumption of shipments in non-U.S. markets and the implementation of a similar fix in the U.S., suggests a strong potential for recovery and growth, supporting the analyst’s positive outlook on the stock.
Chopra covers the Healthcare sector, focusing on stocks such as Masimo, Conmed, and Integra Lifesciences. According to TipRanks, Chopra has an average return of 3.3% and a 60.00% success rate on recommended stocks.
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Integra Lifesciences (IART) Company Description:
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. The Codman Specialty Surgical segment refers to the company’s neurosurgery business, which sells a full line of products for neurosurgery and neuro critical care such as tissue ablation equipment, dural repair products, cerebral spinal fluid management devices, intracranial monitoring equipment, and cranial stabilization equipment; and precision tools and instruments business, which sells instrument patterns and surgical and lighting products to hospitals, surgery centers, and dental, podiatry, and veterinary offices. The Orthopedics and Tissue Technologies segment includes offerings such as skin and wound repair, bone and joint fixation implants in the upper and lower extremities, bone grafts, and nerve and tendon repair. The company was founded by Richard E. Caruso in 1989 and is headquartered in Princeton, NJ.
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