Medical device company Integra LifeSciences (NASDAQ:IART) will be reporting results this Thursday before market open. Here’s what to look for.
Integra LifeSciences beat analysts’ revenue expectations by 5.2% last quarter, reporting revenues of $415.6 million, flat year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ organic revenue estimates but a significant miss of analysts’ EPS guidance for next quarter estimates.
Is Integra LifeSciences a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Integra LifeSciences’s revenue to grow 8.8% year on year to $414.2 million, improving from its flat revenue 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 three times over the last two years.
Looking at Integra LifeSciences’s peers in the healthcare equipment and supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 22.9%, beating analysts’ expectations by 3%, and Neogen reported a revenue decline of 3.6%, topping estimates by 2.6%. Intuitive Surgical traded up 13.9% following the results while Neogen was also up 3.7%.
Read our full analysis of Intuitive Surgical’s results here and Neogen’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 6.1% on average over the last month. Integra LifeSciences is up 14.2% during the same time and is heading into earnings with an average analyst price target of $16.38 (compared to the current share price of $15.56).
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