Integra LifeSciences (NASDAQ:IART) Releases FY24 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $2.41-2.57 for the period, compared to the consensus EPS estimate of $3.04. The company issued revenue guidance of $1.609-1.629 billion, compared to the consensus revenue estimate of $1.68 billion. Integra LifeSciences also updated its FY 2024 guidance to 2.410-2.570 EPS.

Analyst Ratings Changes

A number of analysts have commented on the company. Bank of America decreased their target price on Integra LifeSciences from $42.00 to $26.00 and set an underperform rating on the stock in a research report on Tuesday, May 7th. Morgan Stanley upped their target price on Integra LifeSciences from $24.00 to $27.00 and gave the company an underweight rating in a research note on Monday, July 15th. Wells Fargo & Company lowered Integra LifeSciences from an overweight rating to an equal weight rating and dropped their price target for the stock from $45.00 to $25.00 in a research note on Tuesday, May 7th. StockNews.com lowered Integra LifeSciences from a buy rating to a hold rating in a research note on Monday, May 13th. Finally, Citigroup increased their target price 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 analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $32.86.

Integra LifeSciences Trading Down 20.3 %

NASDAQ:IART opened at $25.05 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’s 50 day moving average is $29.75 and its two-hundred day moving average is $33.78. The company has a market cap of $1.97 billion, a PE ratio of 62.86, a P/E/G ratio of 1.14 and a beta of 1.11. Integra LifeSciences has a 52 week low of $22.36 and a 52 week high of $46.09.

Integra LifeSciences (NASDAQ:IART) last posted its earnings results on Monday, May 6th. The life sciences company reported $0.55 EPS for the quarter, meeting 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 analysts’ expectations of $361.96 million. During the same period last year, the firm earned $0.74 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. On average, analysts predict that Integra LifeSciences will post 3.03 EPS for the current year.

Insider Activity at Integra LifeSciences

In other news, Chairman Stuart Essig purchased 52,641 shares of the stock in a transaction dated Thursday, May 23rd. The shares were bought at an average cost of $28.49 per share, for a total transaction of $1,499,742.09. Following the transaction, the chairman now owns 487,922 shares in the company, valued at $13,900,897.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by 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.