Integra LifeSciences (NASDAQ:IART) Issues FY24 Earnings Guidance

Integra LifeSciences (NASDAQ:IART) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $3.01-3.11 for the period, compared to the consensus earnings per share estimate of $3.19. The company issued revenue guidance of $1.67-1.69 billion, compared to the consensus revenue estimate of $1.62 billion. Integra LifeSciences also updated its FY 2024 guidance to 3.010-3.110 EPS.

Analysts Set New Price Targets

Several brokerages have issued reports on IART. Bank of America cut their price objective on Integra LifeSciences from $42.00 to $26.00 and set an underperform rating for the company in a research report on Tuesday. Citigroup upgraded shares of Integra LifeSciences from a sell rating to a neutral rating and set a $38.00 price target on the stock in a research report on Wednesday, April 3rd. Morgan Stanley lowered their price objective on shares of Integra LifeSciences from $37.00 to $24.00 and set an underweight rating for the company in a research report on Tuesday. Wells Fargo & Company lowered shares of Integra LifeSciences from an overweight rating to an equal weight rating and reduced their target price for the stock from $45.00 to $25.00 in a research report on Tuesday. Finally, StockNews.com lowered shares of Integra LifeSciences from a buy rating to a hold rating in a report on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $36.80.

Integra LifeSciences Trading Down 0.7 %

Shares of IART stock traded down $0.17 during trading hours on Wednesday, reaching $24.91. The company had a trading volume of 1,907,390 shares, compared to its average volume of 823,586. Integra LifeSciences has a 1-year low of $22.36 and a 1-year high of $50.78. 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 firm has a market cap of $1.96 billion, a price-to-earnings ratio of 30.22, a P/E/G ratio of 0.87 and a beta of 1.17. The company has a 50 day moving average of $32.95 and a 200 day moving average of $38.24.

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

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.