Integra LifeSciences price target lowered to $21 from $26 at Truist

Truist lowered the firm’s price target on Integra LifeSciences to $21 from $26 and keeps a Hold rating on the shares as part of a broader research note previewing Q3 results for the MedTech sector. While the firm believes that any hurricane related headwind call-outs for Q4 will generally get “a pass” from investors, it could cause companies with elective or deferrable procedure areas to see more muted guide increases, the analyst tells investors in a research note. For the stock, Truist contends that a valuation discount is justified given the accumulating execution errors on the part of the company as well as peers’ faster growth prospects.