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

Integra LifeSciences (NASDAQ:IART) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 3.010-3.110 for the period, compared to the consensus earnings per share estimate of 3.190. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.6 billion. Integra LifeSciences also updated its FY24 guidance to $3.01-3.11 EPS.

Integra LifeSciences Price Performance

Integra LifeSciences stock traded down $0.23 during mid-day trading on Wednesday, hitting $24.85. The stock had a trading volume of 1,082,919 shares, compared to its average volume of 813,863. The firm has a market capitalization of $1.95 billion, a P/E ratio of 30.22, a P/E/G ratio of 0.87 and a beta of 1.17. The company has a current ratio of 3.45, a quick ratio of 2.18 and a debt-to-equity ratio of 0.94. The firm’s 50 day moving average is $32.95 and its 200 day moving average is $38.24. Integra LifeSciences has a one year low of $22.36 and a one year high of $50.78.

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

Wall Street Analysts Forecast Growth

IART has been the topic of several recent research reports. Oppenheimer lowered Integra LifeSciences from an outperform rating to a market perform rating in a research report on Tuesday. Truist Financial cut their price target on Integra LifeSciences from $37.00 to $25.00 and set a hold rating for the company in a research note on Tuesday. StockNews.com downgraded Integra LifeSciences from a buy rating to a hold rating in a research report on Tuesday, April 30th. Wells Fargo & Company downgraded shares of Integra LifeSciences from an overweight rating to an equal weight rating and lowered their target price for the company from $45.00 to $25.00 in a report on Tuesday. Finally, JMP Securities lowered their target price on Integra LifeSciences from $49.00 to $40.00 and set a market outperform rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $36.80.

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.