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 earnings per share guidance of $2.41-2.57 for the period, compared to the consensus earnings per share 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 Stock Performance

NASDAQ IART opened at $25.05 on Monday. Integra LifeSciences has a 52-week low of $22.36 and a 52-week high of $46.09. The company has a 50-day simple moving average of $29.75 and a 200 day simple moving average of $33.78. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.35 and a current ratio of 4.68. The company has a market capitalization of $1.97 billion, a PE ratio of 62.86, a price-to-earnings-growth ratio of 1.14 and a beta of 1.11.

Integra LifeSciences (NASDAQ:IART) last posted its quarterly earnings data on Monday, May 6th. The life sciences company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. Integra LifeSciences had a net margin of 2.63% and a return on equity of 14.27%. The business had revenue of $368.90 million during the quarter, compared to the consensus estimate of $361.96 million. During the same quarter last year, the company posted $0.74 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts predict that Integra LifeSciences will post 3.03 EPS for the current year.

Analyst Ratings Changes

IART has been the subject of several recent research reports. 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 note on Tuesday, May 7th. Oppenheimer downgraded shares of Integra LifeSciences from an outperform rating to a market perform rating in a research note on Tuesday, May 7th. Citigroup lifted their target price on shares of Integra LifeSciences from $28.00 to $30.00 and gave the stock a neutral rating in a research note on Wednesday, July 10th. Truist Financial lifted their target price on shares of Integra LifeSciences from $25.00 to $32.00 and gave the stock a hold rating in a research note on Tuesday, July 16th. Finally, StockNews.com downgraded shares of Integra LifeSciences from a buy rating to a hold rating in a research note on Monday, May 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $32.86.

Insider Buying and Selling at Integra LifeSciences

In related news, Chairman Stuart Essig bought 52,641 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average cost of $28.49 per share, for a total transaction of $1,499,742.09. Following the completion of the transaction, the chairman now directly owns 487,922 shares in the company, valued at approximately $13,900,897.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is currently owned by company insiders.

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.