Earnings and Upgrades Bullish for IART. $70 target
Piper Jaffray analyst Matt O'Brien reiterated an Overweight rating and $69 price target on Integra LifeSciences after the company reported Q2 earnings results that were "ahead of expectations," with guidance the analyst believes is "likely conservative." O'Brien was also positive that the company's integration efforts look to be moving in the right direction, that orthopedics growth is improving, and that management remains committed to 100bps of GM expansion. He said Integra "now has a more favorable setup for the year (still at an attractive valuation)."
Peter Arduini CEO
In the second quarter, adjusted earnings per increased 22% to $0.73 and our adjusted EBITDA margin increased 200 basis points to approximately 25% compared to the prior year. Based on our strong results in the first half, we are reaffirming our full year 2019 organic revenue growth guidance of approximately 5% and raising our adjusted earnings per share guidance to a new range of $2.70 to $2.75, an increase of $0.05 at the midpoint from our prior guidance.
AVERAGE ANALYSTS PRICE TARGET $60
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 50
SHORT INTEREST 1.6%
COMPANY PROFILE
Integra LifeSciences Holdings Corp. engages in the manufacture and sale of medical instruments, devices, and equipment. It operates through the Codman Specialty Surgical, and Orthopedics and Tissue Technologies segments. The Codman Specialty Surgical segment refers to the company's neurosurgery business, which sells a full line of products for neurosurgery and neuro critical care such as tissue ablation equipment, dural repair products, cerebral spinal fluid management devices, intracranial monitoring equipment, and cranial stabilization equipment; and precision tools and instruments business, which sells instrument patterns and surgical and lighting products to hospitals, surgery centers, and dental, podiatry, and veterinary offices. The Orthopedics and Tissue Technologies segment includes offerings such as skin and wound repair, bone and joint fixation implants in the upper and lower extremities, bone grafts, and nerve and tendon repair. The company was founded by Richard E. Caruso in 1989 and is headquartered in Plainsboro, NJ.
Peter Arduini CEO
In the second quarter, adjusted earnings per increased 22% to $0.73 and our adjusted EBITDA margin increased 200 basis points to approximately 25% compared to the prior year. Based on our strong results in the first half, we are reaffirming our full year 2019 organic revenue growth guidance of approximately 5% and raising our adjusted earnings per share guidance to a new range of $2.70 to $2.75, an increase of $0.05 at the midpoint from our prior guidance.
AVERAGE ANALYSTS PRICE TARGET $60
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 50
SHORT INTEREST 1.6%
COMPANY PROFILE
Integra LifeSciences Holdings Corp. engages in the manufacture and sale of medical instruments, devices, and equipment. It operates through the Codman Specialty Surgical, and Orthopedics and Tissue Technologies segments. The Codman Specialty Surgical segment refers to the company's neurosurgery business, which sells a full line of products for neurosurgery and neuro critical care such as tissue ablation equipment, dural repair products, cerebral spinal fluid management devices, intracranial monitoring equipment, and cranial stabilization equipment; and precision tools and instruments business, which sells instrument patterns and surgical and lighting products to hospitals, surgery centers, and dental, podiatry, and veterinary offices. The Orthopedics and Tissue Technologies segment includes offerings such as skin and wound repair, bone and joint fixation implants in the upper and lower extremities, bone grafts, and nerve and tendon repair. The company was founded by Richard E. Caruso in 1989 and is headquartered in Plainsboro, NJ.