Integra LifeSciences (NASDAQ:IART) Issues Quarterly Earnings Results

Key Points

• Integra LifeSciences beat earnings expectations: The company reported quarterly EPS of $0.59, above the $0.56 consensus estimate, while revenue of $411.18 million fell slightly short of the $413.16 million forecast.
• Shares declined 0.9% to $13.33 and remained below their 50-day and 200-day moving averages. The stock has traded between $8.70 and $20.49 over the past year.
• Analyst sentiment remains cautious: Several firms cut their price targets to $15, and the stock carries a consensus “Reduce” rating with an average target price of $16.71.

Integra LifeSciences (NASDAQ:IART - Get Free Report) released its earnings results on Wednesday. The life sciences company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03, FiscalAI reports. Integra LifeSciences had a positive return on equity of 18.30% and a negative net margin of 0.44%. The business had revenue of $411.18 million for the quarter, compared to the consensus estimate of $413.16 million. During the same period in the previous year, the company posted ($0.07) earnings per share.

Integra LifeSciences Trading Down 0.9%

Integra LifeSciences stock opened at $13.33 on Wednesday. The business has a 50-day simple moving average of $15.67 and a two-hundred day simple moving average of $15.55. The company has a market cap of $1.04 billion, a P/E ratio of -148.09, a P/E/G ratio of 0.71 and a beta of 1.21. Integra LifeSciences has a 52-week low of $8.70 and a 52-week high of $20.49. The company has a quick ratio of 2.11, a current ratio of 3.60 and a debt-to-equity ratio of 1.75.

Analysts Set New Price Targets

Several research firms have recently issued reports on IART. BMO Capital Markets lowered their price target on Integra LifeSciences from $18.00 to $15.00 and set a "market perform" rating for the company in a research report on Monday, October 5th. Wells Fargo & Company set a $15.00 target price on Integra LifeSciences in a report on Saturday, October 3rd. Citigroup reiterated a "neutral" rating and issued a $15.00 price objective (down from $19.00) on shares of Integra LifeSciences in a report on Monday, October 5th. Truist Financial lowered their price objective on shares of Integra LifeSciences from $19.00 to $15.00 and set a "hold" rating on the stock in a research report on Wednesday, October 14th. Finally, UBS Group began coverage on shares of Integra LifeSciences in a research report on Tuesday, July 28th. They set a "neutral" rating and a $19.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $16.71.

Integra LifeSciences Company Profile

Integra LifeSciences Holdings Corporation NASDAQ: IART is a global medical technology company that develops and manufactures products used in neurosurgery, reconstructive surgery, and orthopedic procedures. Its offerings are designed to help physicians treat neurological conditions, traumatic injuries, complex wounds, and other surgical needs.

The company's products include dural repair and regeneration materials, cerebrospinal fluid management systems, surgical instruments, nerve and tendon repair products, and tissue-engineered solutions for wound care and reconstructive surgery.

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