Integra LifeSciences (NASDAQ:IART) Releases Q3 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) updated its third quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.36-0.44 for the period, compared to the consensus estimate of $0.85. The company issued revenue guidance of $372-384 million, compared to the consensus revenue estimate of $434.34 million. Integra LifeSciences also updated its FY 2024 guidance to 2.410-2.570 EPS.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IART. Morgan Stanley upped their price target on shares of Integra LifeSciences from $24.00 to $27.00 and gave the company an underweight rating in a research note on Monday, July 15th. StockNews.com downgraded shares of Integra LifeSciences from a buy rating to a hold rating in a research note on Monday, May 13th. Wells Fargo & Company downgraded shares of Integra LifeSciences from an overweight rating to an equal weight rating and decreased their price target for the company from $45.00 to $25.00 in a research note on Tuesday, May 7th. Oppenheimer downgraded shares of Integra LifeSciences from an outperform rating to a market perform rating in a research note on Tuesday, May 7th. Finally, Truist Financial boosted their price objective on shares of Integra LifeSciences from $25.00 to $32.00 and gave the company a hold rating in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Integra LifeSciences has an average rating of Hold and an average target price of $32.86.

Integra LifeSciences Trading Down 20.3 %

NASDAQ IART opened at $25.05 on Monday. The stock has a market cap of $1.97 billion, a PE ratio of 62.86, a PEG ratio of 1.14 and a beta of 1.11. Integra LifeSciences has a 12 month low of $22.36 and a 12 month high of $46.09. The company’s 50-day moving average price is $29.75 and its 200-day moving average price is $33.78. The company has a current ratio of 4.68, a quick ratio of 3.35 and a debt-to-equity ratio of 1.15.

Integra LifeSciences (NASDAQ:IART) last posted its quarterly earnings results on Monday, May 6th. The life sciences company reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $368.90 million for the quarter, compared to the consensus estimate of $361.96 million. Integra LifeSciences had a net margin of 2.63% and a return on equity of 14.27%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 EPS. Equities research analysts forecast that Integra LifeSciences will post 3.03 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Stuart Essig purchased 52,641 shares of Integra LifeSciences stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average price of $28.49 per share, with a total value of $1,499,742.09. Following the purchase, the chairman now directly owns 487,922 shares of the company’s stock, valued at approximately $13,900,897.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is currently owned by insiders.

About Integra LifeSciences

Integra LifeSciences Holdings Corporation manufactures and sells surgical instruments, neurosurgical products, and wound care products for use in neurosurgery, neurocritical care, and otolaryngology. It operates in two segments, Codman Specialty Surgical and Tissue Technologies. The company offers neurosurgery and neuro critical care products, including tissue ablation equipment, dural repair products, cerebral spinal fluid management devices, intracranial monitoring equipment, and cranial stabilization equipment; and surgical headlamps and instrumentation, as well as after-market services.