Integra LifeSciences (NASDAQ:IART) Updates FY24 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $3.01-3.11 for the period, compared to the consensus estimate of $3.19. The company issued revenue guidance of $1.67-1.69 billion, compared to the consensus revenue estimate of $1.62 billion. Integra LifeSciences also updated its FY 2024 guidance to 3.010-3.110 EPS.

Integra LifeSciences Stock Performance

Shares of IART stock traded up $1.64 during mid-day trading on Tuesday, hitting $24.78. 1,280,558 shares of the stock were exchanged, compared to its average volume of 777,583. Integra LifeSciences has a 12-month low of $22.36 and a 12-month high of $51.12. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.18 and a current ratio of 3.45. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 0.87 and a beta of 1.17. The stock’s fifty day simple moving average is $33.33 and its two-hundred day simple moving average is $38.33.

Integra LifeSciences (NASDAQ:IART) last released its quarterly earnings results on Monday, May 6th. The life sciences company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. Integra LifeSciences had a return on equity of 15.19% and a net margin of 4.39%. The firm had revenue of $368.90 million for the quarter, compared to the consensus estimate of $361.96 million. During the same quarter last year, the business posted $0.74 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts forecast that Integra LifeSciences will post 3.19 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial decreased their price target on shares of Integra LifeSciences from $37.00 to $25.00 and set a hold rating for the company in a research note on Tuesday. Wells Fargo & Company lowered Integra LifeSciences from an overweight rating to an equal weight rating and lowered their price target for the stock from $45.00 to $25.00 in a report on Tuesday. Oppenheimer cut Integra LifeSciences from an outperform rating to a market perform rating in a research report on Tuesday. StockNews.com cut Integra LifeSciences from a buy rating to a hold rating in a research report on Tuesday, April 30th. Finally, Bank of America dropped their target price on Integra LifeSciences from $42.00 to $26.00 and set an underperform rating on the stock in a report on Tuesday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $39.00.

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.