Integra LifeSciences (NASDAQ:IART) Issues FY24 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) issued an update on its FY24 earnings guidance on Monday morning. 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.

Integra LifeSciences Trading Down 1.5 %

Shares of IART opened at $25.03 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.68 and a quick ratio of 3.35. The firm has a market cap of $1.97 billion, a P/E ratio of 50.06, a price-to-earnings-growth ratio of 1.12 and a beta of 1.11. Integra LifeSciences has a 1 year low of $22.36 and a 1 year high of $46.09. The company has a 50 day simple moving average of $29.67 and a two-hundred day simple moving average of $33.52.

Integra LifeSciences (NASDAQ:IART) last posted its earnings results on Monday, July 29th. The life sciences company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $418.20 million during the quarter, compared to the consensus estimate of $413.07 million. Integra LifeSciences had a return on equity of 13.95% and a net margin of 1.51%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. On average, equities analysts expect that Integra LifeSciences will post 2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on IART shares. Morgan Stanley raised their price target on Integra LifeSciences from $24.00 to $27.00 and gave the stock an underweight rating in a research report on Monday, July 15th. Bank of America decreased their target price on Integra LifeSciences from $42.00 to $26.00 and set an underperform rating for the company in a research report on Tuesday, May 7th. Truist Financial decreased their target price on Integra LifeSciences from $32.00 to $26.00 and set a hold rating for the company in a research report on Tuesday. JMP Securities decreased their target price on Integra LifeSciences from $40.00 to $35.00 and set a market outperform rating for the company in a research report on Tuesday. Finally, Oppenheimer downgraded Integra LifeSciences from an outperform rating to a market perform rating in a research report on Tuesday, May 7th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Integra LifeSciences currently has an average rating of Hold and a consensus price target of $29.25.

Insiders Place Their Bets

In other Integra LifeSciences news, Chairman Stuart Essig purchased 52,641 shares of the stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $28.49 per share, with a total value of $1,499,742.09. Following the completion of 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 SEC, which is available at this link. Corporate insiders own 3.10% of the company’s stock.

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.