Integra LifeSciences (NASDAQ:IART) Releases Q3 2024 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) updated its third quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.360-0.440 for the period, compared to the consensus EPS estimate of 0.850. The company issued revenue guidance of $372.0 million-$382.0 million, compared to the consensus revenue estimate of $432.1 million. Integra LifeSciences also updated its FY 2024 guidance to 2.410-2.570 EPS.

Integra LifeSciences Stock Performance

NASDAQ IART opened at $24.81 on Thursday. The business’s 50 day moving average price is $29.61 and its 200-day moving average price is $33.46. Integra LifeSciences has a fifty-two week low of $22.36 and a fifty-two week high of $46.09. The company has a market cap of $1.92 billion, a P/E ratio of 49.62, a P/E/G ratio of 1.10 and a beta of 1.11. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.35 and a current ratio of 3.39.

Integra LifeSciences (NASDAQ:IART) last posted 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 business had revenue of $418.20 million for the quarter, compared to analysts’ expectations of $413.07 million. Integra LifeSciences had a net margin of 1.51% and a return on equity of 14.07%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 earnings per share. Sell-side analysts predict that Integra LifeSciences will post 2.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IART has been the subject of a number of analyst reports. StockNews.com cut Integra LifeSciences from a buy rating to a hold rating in a research note on Monday, May 13th. Truist Financial cut their price objective on shares of Integra LifeSciences from $32.00 to $26.00 and set a hold rating on the stock in a research report 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 research report on Tuesday. Wells Fargo & Company cut Integra LifeSciences from an overweight rating to an equal weight rating and lowered their price objective for the stock from $45.00 to $25.00 in a research report on Tuesday, May 7th. Finally, Morgan Stanley raised their price target on Integra LifeSciences from $24.00 to $27.00 and gave the stock an underweight rating in a report on Monday, July 15th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Integra LifeSciences presently has a consensus rating of Hold and a consensus target price of $29.25.

Insider Transactions at Integra LifeSciences

In other Integra LifeSciences news, Chairman Stuart Essig purchased 52,641 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average price of $28.49 per share, for a total transaction of $1,499,742.09. Following the acquisition, 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.10% of the company’s stock.

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.