Integra LifeSciences (NASDAQ:IART) Updates FY24 Earnings Guidance

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

Integra LifeSciences Price Performance

Shares of NASDAQ IART traded up $1.79 during midday trading on Tuesday, hitting $24.93. 1,356,553 shares of the company’s stock were exchanged, compared to its average volume of 778,370. The business’s fifty day moving average price is $33.33 and its two-hundred day moving average price is $38.33. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 0.87 and a beta of 1.17. 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 has a 12-month low of $22.36 and a 12-month high of $51.12.

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, hitting analysts’ consensus estimates of $0.55. Integra LifeSciences had a net margin of 4.39% and a return on equity of 15.19%. The business had revenue of $368.90 million during the quarter, compared to analysts’ expectations of $361.96 million. During the same quarter in the previous year, the company earned $0.74 EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, research analysts forecast that Integra LifeSciences will post 3.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IART shares. Citigroup upgraded Integra LifeSciences from a sell rating to a neutral rating and set a $38.00 target price for the company in a research report on Wednesday, April 3rd. StockNews.com lowered Integra LifeSciences from a buy rating to a hold rating in a research report on Tuesday, April 30th. Bank of America decreased their price target on shares of Integra LifeSciences from $42.00 to $26.00 and set an underperform rating for the company in a research note on Tuesday. Oppenheimer downgraded shares of Integra LifeSciences from an outperform rating to a market perform rating in a research report on Tuesday. Finally, Wells Fargo & Company downgraded shares of Integra LifeSciences from an overweight rating to an equal weight rating and dropped their target price for the stock from $45.00 to $25.00 in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $39.00.

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.