Stifel Nicolaus is out with its report today on Integra LifeSciences Holdings IART, initiating IART at Hold.
In its report, Stifel Nicolaus writes, "Following extensive M&A activity in recent years to move Integra into faster-growth and higher-margin Orthopedic businesses (extremities, spine), Integra has reached a point where incremental growth is seemingly demanding greater resources. As end-markets and the company's organic revenue trends decelerate, we believe spending priorities to build scale and reinvigorate growth will limit potential for near-term operating leverage."
Shares of IART closed Wednesday at $39.61.
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