Integra Lifesciences Holdings Corp. (IART)
NASDAQ:IART
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Integra Lifesciences
(NASDAQ:IART)
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Rating:54Neutral
Price Target:
$14.00
▲(25.67% Upside)
Action:ReiteratedDate:05/09/26
The score is held back primarily by weak financial performance (deep recent losses, higher leverage, and negative free cash flow), despite improving operating cash flow. Technicals are a near-term positive with strong price trend, but overbought signals raise pullback risk. Earnings call commentary is moderately supportive (EPS guidance raised and margins improving), while valuation remains unattractive due to negative earnings and no stated dividend support.
Positive Factors
Gross margin expansion
Sustained gross- and EBITDA-margin improvement reflects better product mix, tariff benefits and lower remediation costs, which enhance structural profitability. Higher margins increase cash flow resilience and operating leverage, supporting reinvestment and debt reduction over the medium term.
Negative Factors
Deep net losses
A roughly -30% net margin is a material structural weakness, indicating that costs and charges overwhelm gross profits. Persistent losses impair retained earnings, depress ROE, limit ability to build reserves, and constrain long-term investment and shareholder return potential until profitability is restored.
Read all positive and negative factors
Positive Factors
Negative Factors
Gross margin expansion
Sustained gross- and EBITDA-margin improvement reflects better product mix, tariff benefits and lower remediation costs, which enhance structural profitability. Higher margins increase cash flow resilience and operating leverage, supporting reinvestment and debt reduction over the medium term.
Read all positive factors
Integra Lifesciences (IART) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.08B
Dividend YieldN/A
Average Volume (3M)682.69K
Price to Earnings (P/E)―
Beta (1Y)1.82
Revenue Growth1.24%
EPS Growth-1605.54%
CountryUS
Employees4,396
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-6.48
Shares Outstanding77,796,906
10 Day Avg. Volume691,147
30 Day Avg. Volume682,692
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.91
Price to Sales (P/S)0.58
P/FCF Ratio-30.70
Enterprise Value/Market Cap2.66
Enterprise Value/Revenue1.75
Enterprise Value/Gross Profit3.30
Enterprise Value/Ebitda-10.54
Forecast
1Y Price Target
$18.80Price Target Upside68.76% Upside
Rating ConsensusHold
Number of Analyst Covering7
EPS Forecast (FY)2.35
Revenue Forecast (FY)$1.67B
Integra Lifesciences Business Overview & Revenue Model
Company Description
Integra LifeSciences Holdings Corporation develops, manufactures, and markets surgical implants and medical instruments for use in neurosurgery, extremity reconstruction, and general surgery. It operates in two segments, Codman Specialty Surgical ...
How the Company Makes Money
Integra LifeSciences primarily makes money by selling medical devices, implants, and surgical-related products used in operating rooms and specialty procedures, generating revenue when healthcare providers purchase its products for patient care. I...
Integra Lifesciences Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Positive
The call presented multiple clear positive developments: a revenue and EPS beat in Q1, meaningful margin expansion, strong growth in Tissue Reconstruction (notably Integra Skin, DuraSorb and PriMatrix), improved operating cash flow, and decisive leadership and commercial alignment actions (CEO transition and new CCO). At the same time, the company faces notable challenges including pockets of organic decline in Specialty Surgery, ongoing remediation with some products off-market, negative free cash flow in the quarter, elevated net leverage (4.1x) and modest full-year organic growth guidance. Overall, the positives — operational improvements, margin gains, guidance maintained with a small EPS lift, and clear product/commercial catalysts (Braintree restart, SurgiMend relaunch, PMA pathway) — outweigh the near-term headwinds, though risks remain around product returns, cash conversion and leverage.Positive Updates
Revenue Beat and Organic Growth
Total revenue of $392.0M in Q1 2026, up 2.4% reported and +1.3% organic versus prior year, outperforming the high end of guidance.
Negative Updates
Specialty Surgery Organic Contraction and Instrument Weakness
Specialty Surgery revenue of $283M was up 0.9% reported but down 0.6% organic; instruments posted a high single-digit decline (attributed to order timing) and ENT declined low single digits, indicating continued near-term pressure in parts of the portfolio.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Beat and Organic Growth
Total revenue of $392.0M in Q1 2026, up 2.4% reported and +1.3% organic versus prior year, outperforming the high end of guidance.
Read all positive updates
Company Guidance
Integra maintained full‑year revenue guidance of $1.66–$1.70 billion and raised adjusted EPS guidance to $2.40–$2.50 (a $0.10 upward update driven by favorable tariff outcomes), while guiding Q2 revenue of $410–$425 million (reported growth -1.3% to +2.3%, organic -1.5% to +2.1%) and Q2 adjusted EPS of $0.44–$0.52 (≈6% growth at the midpoint). The company expects full‑year organic growth of 0.8%–3.3% (reported 1.6%–4.1% reflecting ~80 bps FX tailwind), with first‑half revenue at the midpoint of about $809 million and an expected ~$26 million step‑up into Q2, modest sequential growth in Q3 and a further increase in Q4. At the midpoint, management projects gross margin improvement of ~60 bps and adjusted EBITDA margin improvement of ~100 bps versus 2025 (full‑year gross margin ~62.5%). Quarterly results included Q1 revenue $392M and adjusted EPS $0.54 (above guidance), Q1 gross margin 64.1% (+190 bps YoY), adjusted EBITDA margin 19.4% (+280 bps YoY), operating cash flow $9.8M, capex $14.8M, free cash flow -$5M (conversion -12.1%), net debt $1.6B and leverage 4.1x (targeting 2.5–3.5x by end‑2026), with total liquidity ~ $488M (≈$266M cash).Integra Lifesciences Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
36
Negative
Cash Flow
41
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.64B | 1.64B | 1.61B | 1.54B | 1.56B | 1.54B |
| Gross Profit | 875.04M | 845.23M | 882.06M | 884.74M | 970.31M | 944.64M |
| EBITDA | -273.65M | -326.20M | 193.29M | 255.96M | 384.60M | 366.33M |
| Net Income | -495.80M | -516.47M | -6.94M | 67.74M | 180.55M | 169.07M |
Balance Sheet | ||||||
| Total Assets | 3.58B | 3.60B | 4.04B | 3.78B | 3.89B | 3.78B |
| Cash, Cash Equivalents and Short-Term Investments | 265.50M | 263.74M | 273.57M | 309.10M | 456.66M | 513.45M |
| Total Debt | 2.04B | 2.03B | 1.98B | 1.68B | 1.63B | 1.67B |
| Total Liabilities | 2.54B | 2.56B | 2.49B | 2.19B | 2.09B | 2.10B |
| Stockholders Equity | 1.04B | 1.04B | 1.55B | 1.59B | 1.80B | 1.68B |
Cash Flow | ||||||
| Free Cash Flow | -10.12M | -31.05M | 24.96M | 73.09M | 217.38M | 264.35M |
| Operating Cash Flow | 71.44M | 50.38M | 129.38M | 139.96M | 264.47M | 312.43M |
| Investing Cash Flow | -86.99M | -108.06M | -390.81M | -94.18M | -58.58M | -161.44M |
| Financing Cash Flow | 1.25M | 28.34M | 237.86M | -229.93M | -251.95M | -98.23M |
Integra Lifesciences Technical Analysis
Positive
11.14
Price Trends
10.25
Positive
11.42
Negative
12.53
Negative
Market Momentum
0.24
Negative
68.34
Neutral
84.59
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IART, the sentiment is Positive. The current price of 11.14 is above the 20-day moving average (MA) of 9.80, above the 50-day MA of 10.25, and below the 200-day MA of 12.53, indicating a neutral trend. The MACD of 0.24 indicates Negative momentum. The RSI at 68.34 is Neutral, neither overbought nor oversold. The STOCH value of 84.59 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IART.
Integra Lifesciences Risk Analysis
Integra Lifesciences disclosed 31 risk factors in its most recent earnings report. Integra Lifesciences reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Integra Lifesciences Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $1.78B | 21.36 | 16.61% | ― | 11.19% | 7.61% | |
76 Outperform | $875.96M | 48.32 | 16.27% | ― | 1.52% | ― | |
64 Neutral | $2.24B | -21.82 | -20.74% | ― | 22.41% | -292.36% | |
55 Neutral | $1.11B | 19.55 | 5.40% | 2.02% | 4.78% | -53.80% | |
54 Neutral | $1.08B | -39.25 | -47.65% | ― | 1.24% | -1605.54% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $470.91M | -5.55 | -13.44% | ― | 2.59% | 59.39% |
* Healthcare Sector Average
IART
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Integra Lifesciences Corporate Events
Business Operations and StrategyShareholder Meetings
Integra Lifesciences Shareholders Approve Expanded Equity Incentive Plan
Positive
May 8, 2026
Integra LifeSciences held its 2026 Annual Meeting of Stockholders on May 7, 2026, where shareholders approved Amendment No. 3 to the company’s Fifth Amended and Restated 2003 Equity Incentive Plan, adding 3,550,000 shares of common stock for...
Business Operations and StrategyExecutive/Board Changes
Integra LifeSciences Names Stuart Essig President and CEO
Positive
May 5, 2026
On May 5, 2026, Integra LifeSciences announced that long-time board chair Stuart Essig has been appointed president and chief executive officer, effective May 1, 2026, succeeding Mojdeh Poul, who departed on April 30, 2026, and that he will also r...
Business Operations and StrategyPrivate Placements and Financing
Integra LifeSciences Extends Accounts Receivable Securitization Facility
Positive
Apr 15, 2026
On April 10, 2026, Integra LifeSciences’ subsidiaries amended their existing $150 million accounts receivable securitization facility, originally entered into on December 18, 2018, by executing updates to both the Receivables Financing Agree...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.