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Held by 189 of 5,944 reporting institutions (91th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $15.10 today, the market must believe free cash flow compounds 14.8%/yr for a decade (off $49M normalized FCF).
2-stage DCF · 0.08B shares · net debt $492M
mean -22.7% · volatility σ 90% · implied rate exceeded in 3/9 yrs
Central path = implied 14.8%/yr growth; shaded band = ±1σ (90%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.64B 100.0% | $1.61B 100.0% | $1.54B 100.0% | $1.56B 100.0% | $1.54B 100.0% | $1.37B 100.0% | $1.52B 100.0% | $1.47B 100.0% | $1.19B 100.0% | $992.1M 100.0% |
| Cost of Revenue | $803.6M 49.1% | $728.5M 45.2% | $656.8M 42.6% | $587.4M 37.7% | $597.8M 38.8% | $520.8M 38.0% | $564.7M 37.2% | $571.5M 38.8% | $435.5M 36.7% | $349.1M 35.2% |
| Cost of Products | — | — | — | — | — | — | — | — | $435.5M 36.7% | $349.1M 35.2% |
| Gross Profit | — | — | — | — | — | $851.0M 62.0% | $952.9M 62.8% | $900.9M 61.2% | $752.7M 63.3% | $643.0M 64.8% |
| Research & Development | — | — | — | — | — | — | — | $78.0M 5.3% | $63.5M 5.3% | $58.2M 5.9% |
| Selling, General & Admin | $699.7M 42.8% | $717.0M 44.5% | $656.6M 42.6% | $616.3M 39.6% | $637.4M 41.3% | $594.5M 43.3% | $687.6M 45.3% | $690.7M 46.9% | $624.1M 52.5% | $455.6M 45.9% |
| Total Operating Expenses | $2.13B 130.2% | $1.58B 98.2% | $1.43B 92.8% | $1.32B 84.7% | $1.35B 87.2% | $1.22B 89.0% | $1.42B 93.8% | $1.36B 92.5% | $1.14B 96.2% | $876.7M 88.4% |
| Operating Income | -$493.4M -30.2% | $28.4M 1.8% | $111.5M 7.2% | $238.9M 15.3% | $197.2M 12.8% | $151.4M 11.0% | $93.8M 6.2% | $111.0M 7.5% | $44.8M 3.8% | $115.3M 11.6% |
| Interest Expense | $86.3M 5.3% | $70.6M 4.4% | $51.4M 3.3% | $49.6M 3.2% | $50.4M 3.3% | $71.6M 5.2% | $54.0M 3.6% | $64.7M 4.4% | $35.0M 2.9% | $25.8M 2.6% |
| Interest & Investment Income | $18.5M 1.1% | $20.0M 1.2% | $17.2M 1.1% | $11.9M 0.8% | $6.7M 0.4% | $9.3M 0.7% | $10.8M 0.7% | $2.8M 0.2% | $255K 0.0% | $24K 0.0% |
| Other Income (Expense), net | -$2.4M -0.1% | $3.9M 0.2% | $3.7M 0.2% | $12.0M 0.8% | $19.3M 1.3% | $4.4M 0.3% | $9.5M 0.6% | $8.3M 0.6% | $1.3M 0.1% | $845K 0.1% |
| Pretax Income | -$563.5M -34.5% | -$18.2M -1.1% | $81.1M 5.3% | $213.9M 13.7% | $214.7M 13.9% | $93.5M 6.8% | $60.1M 4.0% | $57.4M 3.9% | $11.4M 1.0% | $90.4M 9.1% |
| Income Tax Expense | -$47.0M -2.9% | -$11.3M -0.7% | $13.3M 0.9% | $33.3M 2.1% | $45.6M 3.0% | -$40.4M -2.9% | $9.9M 0.7% | -$3.4M -0.2% | -$53.4M -4.5% | $15.8M 1.6% |
| Net Income | -$516.8M -31.6% | -$6.9M -0.4% | $67.7M 4.4% | $180.6M 11.6% | $169.1M 11.0% | $133.9M 9.8% | $50.2M 3.3% | $60.8M 4.1% | $64.7M 5.4% | $74.6M 7.5% |
| Per Share | ||||||||||
| EPS (Basic) | $-6.74 | $-0.09 | $0.85 | $2.18 | $2.00 | $1.58 | $0.59 | $0.73 | $0.84 | $1.00 |
| EPS (Diluted) | $-6.74 | $-0.09 | $0.84 | $2.16 | $1.98 | $1.57 | $0.58 | $0.72 | $0.82 | $0.94 |
| Weighted Avg Shares (Basic) | 76.7M | 77.0M | 80.1M | 83.0M | 84.7M | 84.7M | 85.6M | 82.9M | 76.9M | 74.4M |
| Weighted Avg Shares (Diluted) | 76.7M | 77.0M | 80.3M | 83.5M | 85.5M | 85.2M | 86.5M | 84.0M | 79.1M | 79.2M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $221000 buybacks = $221000 returned on -$31M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -29%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $235M covers the $0 due within a year 235048000.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2020-03-31 (10-Q).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~11.9% on $727M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-09-17
No standout strengths flagged.
Where each multiple sits in its own 14-yr range · 18th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 38.8 | 37.2 | 38.0 | 38.8 | 37.7 | 42.6 | 45.2 | 49.1 |
| Gross Profit | 61.2 | 62.8 | 62.0 | — | — | — | — | — |
| R&D | 5.3 | — | — | — | — | — | — | — |
| SG&A | 46.9 | 45.3 | 43.3 | 41.3 | 39.6 | 42.6 | 44.5 | 42.8 |
| Operating Income | 7.5 | 6.2 | 11.0 | 12.8 | 15.3 | 7.2 | 1.8 | -30.2 |
| Income Tax | -0.2 | 0.7 | -2.9 | 3.0 | 2.1 | 0.9 | -0.7 | -2.9 |
| Net Income | 4.1 | 3.3 | 9.8 | 11.0 | 11.6 | 4.4 | -0.4 | -31.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on IART: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.03T | 50.2× | — | 15.9× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.5B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $368.2B | 20.2× | — | 5.7× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $339.9B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $248.2B | 37.1× | 31.9× | 5.6× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $187.3B | 22.3× | 20.4× | 6.4× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $157.1B | 20.3× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $136.2B | 48.7× | 37.5× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $131.1B | 33.7× | 28.8× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.8B | 24.9× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $107.1B | 33.4× | 18.4× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $102.5B | 22.9× | 16.2× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.4B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $82.6B | 19.0× | 19.8× | 5.8× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CI | $72.7B | 12.4× | 5.5× | 0.3× | 11.2% | 21.8% | 2.2% | 14.3% | 14.1% | 0.0× | 1,583 |
| IART | $1.2B | — | — | 0.7× | 1.5% | 50.9% | -31.6% | -49.5% | -29.2% | -1.6× | 189 |
Peers = companies sharing IART's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.