Integra LifeSciences (NASDAQ:IART) Updates FY 2024 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 2.410-2.570 for the period, compared to the consensus earnings per share estimate of 3.040. The company issued revenue guidance of $1.6 billion-$1.6 billion, compared to the consensus revenue estimate of $1.7 billion. Integra LifeSciences also updated its FY24 guidance to $2.41-2.57 EPS.

Analysts Set New Price Targets

Several equities research analysts recently commented on IART shares. Truist Financial reduced their price target 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. Wells Fargo & Company downgraded Integra LifeSciences from an overweight rating to an equal weight rating and lowered their price target for the company from $45.00 to $25.00 in a report on Tuesday, May 7th. BTIG Research downgraded Integra LifeSciences from a neutral rating to a sell rating and set a $22.00 price objective for the company. in a research note on Tuesday. JMP Securities dropped their target price on Integra LifeSciences from $40.00 to $35.00 and set a market outperform rating on the stock in a report on Tuesday. Finally, 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 report on Tuesday, May 7th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $29.25.

Integra LifeSciences Trading Down 0.9 %

Shares of NASDAQ:IART opened at $24.81 on Thursday. Integra LifeSciences has a 1 year low of $22.36 and a 1 year high of $46.09. The firm has a fifty day moving average price of $29.61 and a 200 day moving average price of $33.46. The company has a current ratio of 3.39, a quick ratio of 3.35 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $1.92 billion, a PE ratio of 49.62, a P/E/G ratio of 1.10 and a beta of 1.11.

Integra LifeSciences (NASDAQ:IART) last issued its quarterly earnings data on Monday, July 29th. The life sciences company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Integra LifeSciences had a return on equity of 14.07% and a net margin of 1.51%. The business had revenue of $418.20 million for the quarter, compared to the consensus estimate of $413.07 million. During the same period last year, the business earned $0.71 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Analysts expect that Integra LifeSciences will post 2.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Integra LifeSciences news, Chairman Stuart Essig purchased 52,641 shares of the stock in a transaction dated Thursday, May 23rd. The shares were bought at an average cost of $28.49 per share, with a total value of $1,499,742.09. Following the completion of the transaction, the chairman now owns 487,922 shares in the company, valued at approximately $13,900,897.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.