Integra LifeSciences (NASDAQ:IART) Updates Q2 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) updated its second quarter earnings guidance on Monday. The company provided EPS guidance of $0.60-0.65 for the period, compared to the consensus EPS estimate of $0.74. The company issued revenue guidance of $411-416 million, compared to the consensus revenue estimate of $395.81 million. Integra LifeSciences also updated its FY 2024 guidance to 3.010-3.110 EPS.

Integra LifeSciences Stock Down 0.7 %

IART stock traded down $0.17 during trading on Wednesday, hitting $24.91. 1,907,390 shares of the company’s stock traded hands, compared to its average volume of 823,586. The business has a fifty day simple moving average of $32.95 and a two-hundred day simple moving average of $38.24. The company has a quick ratio of 2.18, a current ratio of 3.45 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $1.96 billion, a P/E ratio of 30.22, a PEG 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.

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 the consensus estimate of $0.55. Integra LifeSciences had a return on equity of 15.19% and a net margin of 4.39%. 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 company posted $0.74 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. Sell-side analysts anticipate that Integra LifeSciences will post 3.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on IART shares. Truist Financial dropped their target price on shares of Integra LifeSciences from $37.00 to $25.00 and set a hold rating on the stock in a research report on Tuesday. Wells Fargo & Company downgraded Integra LifeSciences from an overweight rating to an equal weight rating and decreased their target price for the company from $45.00 to $25.00 in a research report on Tuesday. Bank of America dropped their price target on Integra LifeSciences from $42.00 to $26.00 and set an underperform rating for the company in a research report on Tuesday. Morgan Stanley dropped their target price on shares of Integra LifeSciences from $37.00 to $24.00 and set an underweight rating for the company in a report on Tuesday. Finally, Oppenheimer downgraded shares of Integra LifeSciences from an outperform rating to a market perform rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $36.80.

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.