Medical device company Integra LifeSciences (NASDAQ:IART) will be reporting results this Thursday before market open. Here’s what to look for.
Integra LifeSciences met analysts’ revenue expectations last quarter, reporting revenues of $382.7 million, up 3.7% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS guidance for next quarter estimates and a miss of analysts’ EPS 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 decline 5.5% year on year to $395 million, a reversal from the 9.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.43 per share.
The majority of analysts covering the company have 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 healthcare equipment and supplies segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 21.4%, beating analysts’ expectations by 3.7%, and Penumbra reported revenues up 13.4%, topping estimates by 3.7%. Intuitive Surgical traded down 1.9% following the results.
Read our full analysis of Intuitive Surgical’s results here and Penumbra’s results here.
Investors in the healthcare equipment and supplies segment have had fairly steady hands going into earnings, with share prices down 1.8% on average over the last month. Integra LifeSciences is up 6.8% during the same time and is heading into earnings with an average analyst price target of $15.88 (compared to the current share price of $13.11).
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