Integra LifeSciences IART recently announced preliminary revenue results for fourth-quarter and fiscal 2019. The company is expected to release detailed financial results for the period on Feb 20.
Integra projects fourth-quarter 2019 revenues at or near the low end of its previously-announced guidance of $395-$400 million.This represents an organic revenue growth of marginally less than 5% and reported growth of around 3%. The Zacks Consensus Estimate for the same is pinned at $397.9 million.
For 2019, the company projects revenue to be at or near the low end of the previously-pegged guidance range of $1.51-1.52 billion. This mirrors organic growth of slightly less than 5% and reported growth of approximately 3%. The Zacks Consensus Estimate for the same was $1.52 billion.
For 2020, the company projects revenues in the range of $1.55 -$1.57 billion, indicating organic revenue growth of nearly 5% and reported growth of 3%. The Zacks Consensus Estimate for the same is pegged at $1.59 billion.
Integra projects 2020 earnings per share (EPS) growth in double digits compared to the 2019 tally. The Zacks Consensus Estimate for 2020 adjusted EPS is pegged at $2.99.
The stock price dropped 0.3% to $58.32 at the close of the trading session on Jan 15.
Share Repurchase Update
With approval from the board of directors, Integra plans to implement a share repurchase program, with an authorization of up to $225 million.
Share Price Movement
Integra has underperformed its industry over the past three months. The stock has lost 5.9% against the 11.6% rise of the industry.
Zacks Rank & Key Picks
Currently, Integra carries a Zacks Rank #4 (Sell). A few better-ranked stocks from the broader medical space are Haemonetics Corporation HAE, Hill-Rom Holdings, Inc HRC and Omnicell OMCL.
Haemonetics has a Zacks Rank #1 (Strong Buy) and a projected long-term earnings growth rate of 13.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Hill-Rom’s long-term earnings growth rate is estimated at 11.7%. The company currently carries a Zacks Rank #2 (Buy).
Omnicell has a long-term earnings growth rate of 12.5%. The company also currently carries Zacks Rank #2.
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