Integra LifeSciences (NASDAQ:IART) Updates FY24 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $2.41-2.57 for the period, compared to the consensus earnings per share estimate of $3.04. The company issued revenue guidance of $1.609-1.629 billion, compared to the consensus revenue estimate of $1.68 billion. Integra LifeSciences also updated its FY 2024 guidance to 2.410-2.570 EPS.

Wall Street Analyst Weigh In

A number of research firms recently commented on IART. JMP Securities decreased their price objective on shares of Integra LifeSciences from $40.00 to $35.00 and set a market outperform rating for the company in a research note on Tuesday. BTIG Research downgraded Integra LifeSciences from a neutral rating to a sell rating and set a $22.00 price target on the stock. in a report on Tuesday. Truist Financial dropped their price target on Integra LifeSciences from $32.00 to $26.00 and set a hold rating on the stock in a research report on Tuesday. Bank of America decreased their price objective on Integra LifeSciences from $42.00 to $26.00 and set an underperform rating for the company in a research report on Tuesday, May 7th. Finally, Oppenheimer downgraded Integra LifeSciences from an outperform rating to a market perform rating in a report on Tuesday, May 7th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Integra LifeSciences presently has an average rating of Hold and an average price target of $29.25.

Integra LifeSciences Stock Performance

Shares of IART stock opened at $24.81 on Thursday. The firm has a market cap of $1.92 billion, a P/E ratio of 49.62, a PEG ratio of 1.10 and a beta of 1.11. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.35. Integra LifeSciences has a fifty-two week low of $22.36 and a fifty-two week high of $46.09. The stock’s 50-day moving average is $29.61 and its two-hundred day moving average is $33.46.

Integra LifeSciences (NASDAQ:IART) last released its quarterly earnings data on Monday, July 29th. The life sciences company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $418.20 million for the quarter, compared to the consensus estimate of $413.07 million. Integra LifeSciences had a return on equity of 14.07% and a net margin of 1.51%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 earnings per share. Analysts predict that Integra LifeSciences will post 2.49 earnings per share for the current fiscal year.

Insider Activity at Integra LifeSciences

In related news, Chairman Stuart Essig acquired 52,641 shares of the stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average price of $28.49 per share, with a total value of $1,499,742.09. Following the acquisition, the chairman now owns 487,922 shares in the company, valued at approximately $13,900,897.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is owned by company 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.