Integra LifeSciences (NASDAQ:IART) Announces Quarterly Earnings Results

Integra LifeSciences (NASDAQ:IART) announced its earnings results on Monday. The life sciences company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01, Briefing.com reports. The company had revenue of $418.20 million during the quarter, compared to analyst estimates of $413.07 million. Integra LifeSciences had a net margin of 1.51% and a return on equity of 13.95%. Integra LifeSciences’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share.

Integra LifeSciences Price Performance

Shares of NASDAQ IART opened at $25.03 on Wednesday. The firm has a market capitalization of $1.97 billion, a P/E ratio of 50.06, a PEG ratio of 1.12 and a beta of 1.11. Integra LifeSciences has a one year low of $22.36 and a one year high of $46.09. The company’s fifty day moving average is $29.67 and its two-hundred day moving average is $33.52. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.35 and a current ratio of 4.68.

Analyst Upgrades and Downgrades

IART has been the subject of several research analyst reports. Oppenheimer lowered shares of Integra LifeSciences from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 7th. StockNews.com cut shares of Integra LifeSciences from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Wells Fargo & Company cut shares of Integra LifeSciences from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $45.00 to $25.00 in a report on Tuesday, May 7th. Bank of America cut their price objective on shares of Integra LifeSciences from $42.00 to $26.00 and set an “underperform” rating on the stock in a report on Tuesday, May 7th. Finally, Morgan Stanley raised their price objective on shares of Integra LifeSciences from $24.00 to $27.00 and gave the stock an “underweight” rating in a report on Monday, July 15th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.25.

Insiders Place Their Bets

In other news, Chairman Stuart Essig purchased 52,641 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average price of $28.49 per share, with a total value of $1,499,742.09. Following the purchase, the chairman now directly owns 487,922 shares of the company’s stock, valued at approximately $13,900,897.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.10% of the company’s stock.

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.