Integra LifeSciences (NASDAQ:IART) Updates Q3 2024 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.360-0.440 for the period, compared to the consensus earnings per share estimate of 0.850. The company issued revenue guidance of $372.0 million-$382.0 million, compared to the consensus revenue estimate of $432.1 million. Integra LifeSciences also updated its FY 2024 guidance to 2.410-2.570 EPS.

Integra LifeSciences Stock Down 19.1 %

Shares of NASDAQ:IART opened at $25.42 on Tuesday. Integra LifeSciences has a 1-year low of $22.36 and a 1-year high of $46.09. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.68 and a quick ratio of 3.35. The stock has a market cap of $2.00 billion, a P/E ratio of 50.84, a P/E/G ratio of 1.14 and a beta of 1.11. The firm has a fifty day moving average price of $29.72 and a 200 day moving average price of $33.65.

Integra LifeSciences (NASDAQ:IART) last released its earnings results on Monday, May 6th. The life sciences company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. Integra LifeSciences had a return on equity of 14.27% and a net margin of 2.63%. The business had revenue of $368.90 million for the quarter, compared to analyst estimates of $361.96 million. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. Sell-side analysts predict that Integra LifeSciences will post 3.03 EPS for the current year.

Wall Street Analyst Weigh In

IART has been the subject of several recent analyst reports. Oppenheimer cut shares of Integra LifeSciences from an outperform rating to a market perform rating in a research note on Tuesday, May 7th. StockNews.com downgraded shares of Integra LifeSciences from a buy rating to a hold rating in a research report on Monday, May 13th. Bank of America lowered their price objective on Integra LifeSciences from $42.00 to $26.00 and set an underperform rating on the stock in a report on Tuesday, May 7th. Morgan Stanley increased their target price on Integra LifeSciences from $24.00 to $27.00 and gave the stock an underweight rating in a research note on Monday, July 15th. Finally, Citigroup lifted their price target on Integra LifeSciences from $28.00 to $30.00 and gave the company a neutral rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $32.86.

Insider Activity at Integra LifeSciences

In other Integra LifeSciences news, Chairman Stuart Essig bought 52,641 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average price of $28.49 per share, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by company insiders.

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.