Integra LifeSciences (NASDAQ:IART) Issues FY 2024 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 2.410-2.570 for the period, compared to the consensus EPS estimate of 3.040. The company issued revenue guidance of $1.6 billion-$1.6 billion, compared to the consensus revenue estimate of $1.7 billion. Integra LifeSciences also updated its FY24 guidance to $2.41-2.57 EPS.

Integra LifeSciences Stock Performance

NASDAQ:IART opened at $25.03 on Wednesday. The business’s 50-day moving average price is $29.67 and its two-hundred day moving average price is $33.52. Integra LifeSciences has a twelve month low of $22.36 and a twelve month high of $46.09. The stock has a market cap of $1.97 billion, a P/E ratio of 50.06, a PEG ratio of 1.12 and a beta of 1.11. The company has a quick ratio of 3.35, a current ratio of 4.68 and a debt-to-equity ratio of 1.15.

Integra LifeSciences (NASDAQ:IART) last announced its quarterly earnings data on Monday, July 29th. The life sciences company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $418.20 million for the quarter, compared to analysts’ expectations of $413.07 million. Integra LifeSciences had a return on equity of 13.95% and a net margin of 1.51%. Integra LifeSciences’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. As a group, equities analysts predict that Integra LifeSciences will post 2.49 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IART shares. Wells Fargo & Company cut Integra LifeSciences from an overweight rating to an equal weight rating and decreased their price objective for the company from $45.00 to $25.00 in a report on Tuesday, May 7th. Citigroup cut Integra LifeSciences from a neutral rating to a sell rating and decreased their price objective for the company from $30.00 to $23.00 in a report on Tuesday. Morgan Stanley raised their price target on Integra LifeSciences from $24.00 to $27.00 and gave the stock an underweight rating in a research report on Monday, July 15th. JMP Securities reduced their price target on Integra LifeSciences from $40.00 to $35.00 and set a market outperform rating on the stock in a research report on Tuesday. Finally, Bank of America reduced their price target on Integra LifeSciences from $42.00 to $26.00 and set an underperform rating on the stock in a research report on Tuesday, May 7th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $29.25.

Insider Transactions at Integra LifeSciences

In other Integra LifeSciences news, Chairman Stuart Essig acquired 52,641 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average cost of $28.49 per share, for a total transaction of $1,499,742.09. Following the transaction, the chairman now owns 487,922 shares in the company, valued at $13,900,897.78. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Integra LifeSciences Company Profile

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.