Integra lifesciences (IART) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS
Integra lifesciences (NASDAQ:IART) announced its quarterly earnings results on Wednesday. The life sciences company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.09, Bloomberg Earnings reports. Integra lifesciences had a net margin of 5.45% and a return on equity of 16.94%. The company had revenue of $357.10 million for the quarter, compared to analyst estimates of $349.15 million. During the same quarter in the prior year, the business posted $0.39 EPS. Integra lifesciences’s quarterly revenue was up 38.1% on a year-over-year basis. Integra lifesciences updated its FY18 guidance to $2.34-2.42 EPS.
Integra lifesciences stock traded up $1.12 during mid-day trading on Thursday, reaching $60.10. The company had a trading volume of 142,007 shares, compared to its average volume of 514,751. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.36 and a quick ratio of 1.51. Integra lifesciences has a 52 week low of $41.51 and a 52 week high of $60.65. The company has a market cap of $4,316.81, a PE ratio of 30.80, a price-to-earnings-growth ratio of 1.69 and a beta of 0.65.
Several research analysts have recently commented on IART shares. JPMorgan Chase increased their price target on shares of Integra lifesciences from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 11th. Oppenheimer restated a “buy” rating on shares of Integra lifesciences in a research note on Thursday, March 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $52.00 price target on shares of Integra lifesciences in a research note on Friday, January 5th. BTIG Research initiated coverage on shares of Integra lifesciences in a research note on Thursday, April 5th. They issued a “neutral” rating and a $56.00 target price on the stock. Finally, Morgan Stanley raised their target price on shares of Integra lifesciences from $53.00 to $58.00 and gave the company an “equal weight” rating in a research note on Thursday. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Integra lifesciences currently has a consensus rating of “Hold” and an average target price of $57.23.
Institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Integra lifesciences by 38.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,806 shares of the life sciences company’s stock valued at $182,000 after acquiring an additional 1,054 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new position in Integra lifesciences during the fourth quarter worth $311,000. Campbell Newman Asset Management Inc. increased its holdings in Integra lifesciences by 21.5% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 6,964 shares of the life sciences company’s stock worth $333,000 after buying an additional 1,234 shares during the last quarter. Stone Ridge Asset Management LLC acquired a new position in Integra lifesciences during the fourth quarter worth $360,000. Finally, Virtu Financial LLC acquired a new position in Integra lifesciences during the fourth quarter worth $378,000. Hedge funds and other institutional investors own 90.36% of the company’s stock.
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About Integra lifesciences
Integra LifeSciences Holdings Corporation develops, manufactures, and markets surgical implants and medical instruments for use in neurosurgery, extremity reconstruction, orthopedics, and general surgery. The company operates in two segments, Codman Specialty Surgical, and Orthopedics and Tissue Technologies.
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