Integra LifeSciences (NASDAQ:IART) Issues Earnings Results, Beats Expectations By $0.01 EPS

Integra LifeSciences (NASDAQ:IART) posted its quarterly earnings data on Monday. The life sciences company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01, Briefing.com reports. Integra LifeSciences had a net margin of 1.51% and a return on equity of 13.95%. The firm had revenue of $418.20 million during the quarter, compared to analyst estimates of $413.07 million. During the same quarter last year, the business posted $0.71 EPS. The company’s revenue was up 9.7% on a year-over-year basis.

Integra LifeSciences Stock Performance

IART traded down $0.46 during trading on Wednesday, hitting $24.57. The stock had a trading volume of 1,514,847 shares, compared to its average volume of 1,149,484. The firm has a market cap of $1.94 billion, a PE ratio of 50.06, a P/E/G ratio of 1.12 and a beta of 1.11. Integra LifeSciences has a 12 month low of $22.36 and a 12 month high of $46.09. The company has a current ratio of 4.68, a quick ratio of 3.35 and a debt-to-equity ratio of 1.15. The company has a 50 day simple moving average of $29.67 and a 200-day simple moving average of $33.52.

Wall Street Analyst Weigh In

IART has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Integra LifeSciences from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Citigroup downgraded shares of Integra LifeSciences from a “neutral” rating to a “sell” rating and cut their target price for the stock from $30.00 to $23.00 in a research report on Tuesday. Truist Financial cut their target price on shares of Integra LifeSciences from $32.00 to $26.00 and set a “hold” rating for the company 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 increased 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 given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $29.25.

Insider Buying and Selling

In other news, Chairman Stuart Essig bought 52,641 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average price of $28.49 per share, for a total transaction of $1,499,742.09. Following the acquisition, the chairman now directly owns 487,922 shares of the company’s stock, valued at approximately $13,900,897.78. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 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.