Integra LifeSciences (NASDAQ:IART) Issues Q2 2024 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) updated its second quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.600-0.650 for the period, compared to the consensus estimate of 0.750. The company issued revenue guidance of $411.0 million-$416.0 million, compared to the consensus revenue estimate of $395.8 million. Integra LifeSciences also updated its FY 2024 guidance to 3.010-3.110 EPS.

Integra LifeSciences Stock Down 0.7 %

Integra LifeSciences stock opened at $24.91 on Thursday. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 0.87 and a beta of 1.17. Integra LifeSciences has a 52-week low of $22.36 and a 52-week high of $50.78. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.18 and a current ratio of 3.45. The firm has a 50 day moving average price of $32.67 and a two-hundred day moving average price of $38.15.

Integra LifeSciences (NASDAQ:IART) last posted its quarterly earnings results on Monday, May 6th. The life sciences company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The business had revenue of $368.90 million during the quarter, compared to analysts’ expectations of $361.96 million. Integra LifeSciences had a net margin of 4.39% and a return on equity of 15.19%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the company posted $0.74 earnings per share. Equities analysts predict that Integra LifeSciences will post 3.19 EPS for the current year.

Analyst Upgrades and Downgrades

IART has been the topic of several analyst reports. Morgan Stanley cut their price target on shares of Integra LifeSciences from $37.00 to $24.00 and set an underweight rating on the stock in a 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 report on Tuesday. StockNews.com downgraded Integra LifeSciences from a buy rating to a hold rating in a research note on Tuesday, April 30th. Citigroup raised shares of Integra LifeSciences from a sell rating to a neutral rating and set a $38.00 price target on the stock in a research report on Wednesday, April 3rd. Finally, Oppenheimer cut shares of Integra LifeSciences from an outperform rating to a market perform rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Integra LifeSciences currently has an average rating of Hold and an average target price of $36.80.

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.