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

Integra LifeSciences (NASDAQ:IART) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 3.010-3.110 for the period, compared to the consensus estimate of 3.190. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.6 billion. Integra LifeSciences also updated its FY24 guidance to $3.01-3.11 EPS.

Analyst Ratings Changes

Several equities research analysts have issued reports on IART shares. Wells Fargo & Company cut shares of Integra LifeSciences from an overweight rating to an equal weight rating and decreased their price target for the stock from $45.00 to $25.00 in a research note on Tuesday. StockNews.com cut shares of Integra LifeSciences from a buy rating to a hold rating in a research note on Tuesday, April 30th. Morgan Stanley reduced their price target on Integra LifeSciences from $37.00 to $24.00 and set an underweight rating on the stock in a research note on Tuesday. Citigroup upgraded Integra LifeSciences from a sell rating to a neutral rating and set a $38.00 target price for the company in a research note on Wednesday, April 3rd. Finally, JMP Securities decreased their price target on Integra LifeSciences from $49.00 to $40.00 and set a market outperform rating on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $36.80.

Integra LifeSciences Stock Performance

Integra LifeSciences stock traded down $0.23 during mid-day trading on Wednesday, reaching $24.85. The company had a trading volume of 1,082,919 shares, compared to its average volume of 813,863. The company has a 50 day moving average of $32.95 and a 200-day moving average of $38.24. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 0.87 and a beta of 1.17. The company has a quick ratio of 2.18, a current ratio of 3.45 and a debt-to-equity ratio of 0.94. Integra LifeSciences has a 52 week low of $22.36 and a 52 week high of $50.78.

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

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.