Jefferies analyst Raj Denhoy maintained a Buy rating on Integra Lifesciences (IART) on October 31 and set a price target of $66. The company’s shares closed on Friday at $53.66.
Denhoy commented:
“IART posted a $4.5mn miss in sales and inline EPS for 3Q. OTT was weak in Extremities with sales productivity among new hires not ramping and Codman saw weakness in several “day two” countries. Organic growth was guided down to 4% for 2018 from 5% and 2019 was offered at the lower end of the 5-7% previously given range. While issues seem transitory, the “growth will accelerate as mix shifts to regenerative” story has again proven elusive for IART. More puts than takes in 3Q sales and ramp fails to materialize. The 6.2% organic growth in 3Q was an acceleration from the 3.2% in 1H but it still fell short of the 9.8% we modeled. The IART story in 2018 has been about the increasing contribution from recent sales hires in OTT and the rolling in of the Codman deal pushing growth higher as the year unfolds. Both of the segments tripped up in 3Q.”
According to TipRanks.com, Denhoy is a top 25 analyst with an average return of 20.0% and a 71.1% success rate. Denhoy covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Zimmer Biomet Holdings, and Edwards Lifesciences.
Integra Lifesciences has an analyst consensus of Moderate Buy, with a price target consensus of $62.10, implying a 15.7% upside from current levels. In a report issued on October 31, Piper Jaffray also reiterated a Buy rating on the stock.
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The company has a one-year high of $67.50 and a one-year low of $45.96. Currently, Integra Lifesciences has an average volume of 659.8K.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock.
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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.
