Integra LifeSciences (NASDAQ:IART) Releases Q2 2024 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.600-0.650 for the period, compared to the consensus EPS estimate of 0.750. The company issued revenue guidance of $411.0 million-$416.0 million, compared to the consensus revenue estimate of $395.8 million. Integra LifeSciences also updated its FY 2024 guidance to 3.010-3.110 EPS.

Integra LifeSciences Trading Up 5.9 %

Shares of Integra LifeSciences stock traded up $1.36 on Tuesday, hitting $24.50. 888,344 shares of the company’s stock traded hands, compared to its average volume of 769,634. Integra LifeSciences has a one year low of $22.36 and a one year high of $51.12. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.45 and a quick ratio of 2.18. The stock has a market capitalization of $1.93 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 0.87 and a beta of 1.17. The firm’s 50-day moving average price is $33.33 and its two-hundred day moving average price is $38.33.

Integra LifeSciences (NASDAQ:IART) last released its earnings results on Monday, May 6th. The life sciences company reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. The firm had revenue of $368.90 million for the quarter, compared to analyst estimates of $361.96 million. Integra LifeSciences had a return on equity of 15.19% and a net margin of 4.39%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, research analysts expect that Integra LifeSciences will post 3.19 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com lowered Integra LifeSciences from a buy rating to a hold rating in a report on Tuesday, April 30th. Wells Fargo & Company cut Integra LifeSciences from an overweight rating to an equal weight rating and cut their price objective for the company from $45.00 to $25.00 in a report on Tuesday. Truist Financial lowered their target price on Integra LifeSciences from $37.00 to $25.00 and set a hold rating for the company in a research note on Tuesday. JMP Securities cut their price target on shares of Integra LifeSciences from $55.00 to $49.00 and set a market outperform rating on the stock in a research note on Thursday, February 29th. Finally, Citigroup upgraded shares of Integra LifeSciences from a sell rating to a neutral rating and set a $38.00 price objective on the stock in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Integra LifeSciences presently has a consensus rating of Hold and a consensus target price 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.