Medical device company Integra LifeSciences (NASDAQ: IART) will be reporting earnings this Tuesday before the bell. Here’s what to expect.
Integra LifeSciences beat analysts’ revenue expectations last quarter, reporting revenues of $434.9 million, down 1.7% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ organic revenue estimates but revenue guidance for next quarter missing analysts’ expectations.
Is Integra LifeSciences a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Integra LifeSciences’s revenue to be flat year on year, slowing from the 3.7% increase it recorded in the same quarter last year.
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 multiple times over the last two years.
Looking at Integra LifeSciences’s peers in the healthcare equipment and supplies 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 23%, beating analysts’ expectations by 5.8%, and Baxter reported revenues up 2.9%, topping estimates by 3.5%. Intuitive Surgical traded up 7.2% following the results while Baxter was also up 1.6%.
Read our full analysis of Intuitive Surgical’s results here and Baxter’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 6% on average over the last month. Integra LifeSciences is up 17.1% during the same time and is heading into earnings with an average analyst price target of $15.67 (compared to the current share price of $10.91).
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