Integra LifeSciences (NASDAQ:IART) Updates FY24 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $3.01-3.11 for the period, compared to the consensus estimate of $3.19. The company issued revenue guidance of $1.67-1.69 billion, compared to the consensus revenue estimate of $1.62 billion. Integra LifeSciences also updated its FY 2024 guidance to 3.010-3.110 EPS.

Wall Street Analyst Weigh In

IART has been the subject of several research reports. JMP Securities reduced their price target on shares of Integra LifeSciences from $49.00 to $40.00 and set a market outperform rating for the company in a research report on Tuesday. Truist Financial lowered their price target on shares of Integra LifeSciences from $37.00 to $25.00 and set a hold rating on the stock in a report on Tuesday. StockNews.com lowered Integra LifeSciences from a buy rating to a hold rating in a report on Tuesday, April 30th. Morgan Stanley dropped their price target on Integra LifeSciences from $37.00 to $24.00 and set an underweight rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company lowered Integra LifeSciences from an overweight rating to an equal weight rating and decreased their price objective for the stock from $45.00 to $25.00 in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Integra LifeSciences currently has a consensus rating of Hold and an average target price of $36.80.

Integra LifeSciences Price Performance

Shares of Integra LifeSciences stock traded down $0.17 on Wednesday, reaching $24.91. The stock had a trading volume of 1,907,390 shares, compared to its average volume of 823,586. The business’s 50 day moving average is $32.95 and its two-hundred day moving average is $38.24. The company has a market cap of $1.96 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 0.87 and a beta of 1.17. Integra LifeSciences has a 1 year low of $22.36 and a 1 year high of $50.78. The company has a current ratio of 3.45, a quick ratio of 2.18 and a debt-to-equity ratio of 0.94.

Integra LifeSciences (NASDAQ:IART) last released its quarterly earnings results on Monday, May 6th. The life sciences company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. Integra LifeSciences had a net margin of 4.39% and a return on equity of 15.19%. The firm had revenue of $368.90 million during the quarter, compared to analyst estimates of $361.96 million. During the same period in the previous year, the business earned $0.74 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, research analysts anticipate that Integra LifeSciences will post 3.19 EPS for the current year.

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.