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

Integra LifeSciences (NASDAQ:IART) updated its FY 2024 earnings guidance on Monday. 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 Trading Down 0.3 %

Shares of NASDAQ IART opened at $31.43 on Monday. The company has a quick ratio of 3.35, a current ratio of 4.68 and a debt-to-equity ratio of 1.15. The business has a fifty day simple moving average of $29.75 and a two-hundred day simple moving average of $33.78. The firm has a market cap of $2.48 billion, a PE ratio of 62.86, a price-to-earnings-growth ratio of 1.14 and a beta of 1.11. Integra LifeSciences has a twelve month low of $22.36 and a twelve month high of $46.75.

Integra LifeSciences (NASDAQ:IART) last announced its earnings results on Monday, May 6th. The life sciences company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Integra LifeSciences had a return on equity of 14.27% and a net margin of 2.63%. The firm had revenue of $368.90 million for the quarter, compared to the consensus estimate of $361.96 million. During the same period in the previous year, the business earned $0.74 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts expect that Integra LifeSciences will post 3.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on IART shares. StockNews.com cut Integra LifeSciences from a buy rating to a hold rating in a report on Monday, May 13th. 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 research report on Tuesday, May 7th. Bank of America reduced their price objective on Integra LifeSciences from $42.00 to $26.00 and set an underperform rating on the stock in a research note on Tuesday, May 7th. Morgan Stanley raised their price target on Integra LifeSciences from $24.00 to $27.00 and gave the company an underweight rating in a research note on Monday, July 15th. Finally, Citigroup raised their price target on Integra LifeSciences from $28.00 to $30.00 and gave the company a neutral rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Integra LifeSciences presently has a consensus rating of Hold and a consensus target price of $32.86.

Insider Buying and Selling at Integra LifeSciences

In other Integra LifeSciences news, Chairman Stuart Essig acquired 52,641 shares of the stock in a transaction 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 acquisition, the chairman now owns 487,922 shares of the company’s stock, valued at $13,900,897.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is owned by corporate insiders.

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.