Medical device company Integra LifeSciences (NASDAQ: IART) will be reporting results tomorrow before market open. Here’s what you need to know.
Integra LifeSciences missed analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $442.6 million, up 11.5% year on year. It was a slower quarter for the company, with a miss of analysts’ full-year EPS guidance estimates.
Is Integra LifeSciences a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Integra LifeSciences’s revenue to grow 3.4% year on year to $381.2 million, a reversal from the 3.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.43 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Integra LifeSciences has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Integra LifeSciences’s peers in the surgical equipment & consumables - specialty segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 19.2%, beating analysts’ expectations by 3.1%, and LeMaitre reported revenues up 12%, topping estimates by 3.7%. Intuitive Surgical traded up 1.9% following the results while LeMaitre was down 12.6%.
Read our full analysis of Intuitive Surgical’s results here and LeMaitre’s results here.
There has been positive sentiment among investors in the surgical equipment & consumables - specialty segment, with share prices up 4.9% on average over the last month. Integra LifeSciences is down 13.4% during the same time and is heading into earnings with an average analyst price target of $24.75 (compared to the current share price of $16.95).
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