Integra LifeSciences (NASDAQ:IART) Issues FY 2023 Earnings Guidance

() released an update to its FY 2023 earning guidance on Thursday morning. The company gave EPS guidance for the period of $3.43 to $3.51, compared with the consensus estimate of $3.48. The company provided revenue guidance between $1.60 billion and $1.62 billion, which is lower than the consensus estimate of $1.61. Integra LifeSciences updated its Q2 guidance for 2023 to $0.75-$0.79 per share.

Integra LifeSciences trading up 0.2 %

On Friday, the stock rose $0.10 to $55.32. The company's shares changed hands 506,138 times, as opposed to the average volume of 441 601. The debt-to equity ratio for the company is 0.86. Its quick ratio is 2.61, and its current ratio is 3.65. Integra LifeSciences's one-year low is $40.67, and its one-year high is $62.99. The fifty-day simple moving is $56.02 while the 200-day simple moving is $54.81. The last time ) released its results was on Wednesday, 26th April. The company's earnings per share for the first quarter were $0.74, which was in line with the consensus estimate. Revenue for the quarter was $380.85 millions, which is higher than analyst expectations of $373.21. Integra LifeSciences' net margin was 11.00%, and its return on equity was 16.29%. The company's revenue for the quarter was up by 1.1% from last year. In the same quarter of last year, Integra LifeSciences earned $0.74 in earnings per share. Analysts predict that Integra LifeSciences's EPS will be 3.46 for the current fiscal year.

Analyst Upgrades and downgrades

IART was the subject of several recent analyst reports. In a report published on Thursday 16th March, a reporter began covering shares of Integra LifeSciences. They gave the stock a buy rating. Morgan Stanley increased their price target for shares of Integra LifeSciences to $59.00 in a report published on Friday 6th January. They also gave the stock a rating of equal weight. JMP Securities reduced their price target for shares of Integra LifeSciences in a Thursday report from $75.00 down to $65.00. Citigroup lowered their price target on shares of Integra LifeSciences to $59.00 from $60.00 in a report published on Thursday 23rd February. The company was also given a neutral rating. Four investment analysts gave the stock a hold rating, and two others have given the company a buy rating. MarketBeat data shows that Integra LifeSciences has a current consensus rating of Hold, and a target price of $57.17.

Insider Activities

In a deal dated February 27th, 3,767 shares were sold. The shares were purchased at an average of $57.00 for a transaction totaling $214,719.00. The executive vice president owns 18,605 of the company's shares, worth $1,060 485 after the sale. EVP Michael J. Mcbreen, in related news, sold 1,843 of the company's shares on Tuesday, 7th March. The shares were purchased at a price of $54.29 on average, for a transaction totaling $100,056.47. The executive vice president owns now 28,796 shares worth $1,563,334.84 after the sale. In a deal dated February 27th, 3,767 shares were sold. The stock was bought at a price of $57.00 on average, for a transaction totaling $214,719.00. After the sale, the executive director now owns 18,605 company shares, worth approximately $1,060 485. Insiders hold 4.20% the stock of the company.

Inflows of Institutional Capital and Outflows

Recently, hedge funds and institutional investors made adjustments to their holdings in the company. Covestor Ltd increased its stake in Integra LifeSciences shares by 63.0% during the first quarter. Covestor Ltd owns 1,558 of the stock of the life sciences firm, worth $100,000. This is after purchasing 602 additional shares during the last quarter. Captrust Financial Advisors increased its holdings of Integra LifeSciences shares by 95.0% in the first quarter. Captrust Financial Advisors owns 2,003 of the stock of the life sciences firm valued at $129,000, after buying an additional 976 during the last quarter. PDT Partners LLC acquired a new shareholding in Integra LifeSciences at a value of approximately $206,000 during the second quarter. Neuberger Berman Group LLC bought a new share of Integra LifeSciences in the fourth quarter for approximately $212,000. XTX Topco Ltd also purchased a position in Integra LifeSciences shares during the first three months valued at about $248,000. Institutional investors hold 87.60% the stock of Integra LifeSciences.

Integra LifeSciences

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Integra LifeSciences Holdings Corp. provides regenerative tissues technologies and neurologic solutions to limit uncertainty for clinicians. The Codman Specialty Surgical segment (CSS) as well as Tissue Technologies (TT), are its two main segments. The CSS segment includes instruments and technologies used in neurosurgery and neurocritical care.

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