Integra LifeSciences (NASDAQ:IART) Updates Q3 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) updated its third quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.36-0.44 for the period, compared to the consensus estimate of $0.85. The company issued revenue guidance of $372-384 million, compared to the consensus revenue estimate of $434.34 million. Integra LifeSciences also updated its FY 2024 guidance to 2.410-2.570 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. BTIG Research cut Integra LifeSciences from a neutral rating to a sell rating and set a $22.00 target price on the stock. in a research report on Tuesday. Bank of America reduced their target price on shares of Integra LifeSciences from $42.00 to $26.00 and set an underperform rating for the company in a research note on Tuesday, May 7th. Citigroup lowered shares of Integra LifeSciences from a neutral rating to a sell rating and dropped their price target for the company from $30.00 to $23.00 in a research report on Tuesday. Oppenheimer downgraded shares of Integra LifeSciences from an outperform rating to a market perform rating in a research report on Tuesday, May 7th. Finally, Morgan Stanley lifted their target price on shares of Integra LifeSciences from $24.00 to $27.00 and gave the stock an underweight rating in a research report on Monday, July 15th. 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $29.25.

Integra LifeSciences Stock Performance

NASDAQ:IART opened at $24.81 on Thursday. Integra LifeSciences has a 52-week low of $22.36 and a 52-week high of $46.09. The business’s fifty day moving average is $29.61 and its 200 day moving average is $33.46. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.35 and a current ratio of 3.39. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 49.62, a PEG ratio of 1.10 and a beta of 1.11.

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

Insiders Place Their Bets

In other news, Chairman Stuart Essig bought 52,641 shares of Integra LifeSciences stock in a transaction that occurred on 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 completion of the purchase, the chairman now directly owns 487,922 shares in the company, valued at $13,900,897.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate 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.