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Integra Reports Organic Sales Drop in Preliminary Q2 Results
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Integra LifeSciences Holdings Corporation (IART - Free Report) recently announced the preliminary revenue results for second-quarter 2020. The company is scheduled to release detailed financial results for the period on Aug 10.
Integra projects second-quarter 2020 revenues in the band of $254-$256 million. This represents an organic revenue decline of 32% and 34% on a reported basis. The Zacks Consensus Estimate for the same is currently pinned at $255 million.
Management noted that there was a sequential improvement in monthly sales performance throughout the quarter due to the reopening of non-emergent surgical procedures and the easing of shelter-in-place restrictions. However, the average daily sales for the company in June were down 15% year over year
2020 Guidance
Integra LifeSciences, although upbeat about its improvement in monthly sales trends during the second quarter, is wary about the uncertainties related to the pandemic’s impacts. Hence, it is currently unable to estimate the revenue impact due to COVID-19 beyond the first half of 2020.
The company will, however, provide an update on Aug 10.
As of now, the Zacks Consensus Estimate for 2020 adjusted earnings per share is pegged at $1.77, while the same for revenues is $1.31 billion.
Price Performance
Shares of the company have lost 11.5% in the past year against the industry’s 10.4% growth and the S&P 500's 5.8% rise.
Zacks Rank & Other Key Picks
Currently, Integra carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks from the broader medical space include Quest Diagnostics Incorporated (DGX - Free Report) , Laboratory Corporation of America Holdings (LH - Free Report) or LabCorp and QIAGEN N.V. (QGEN - Free Report) .
LabCorp’s long-term earnings growth rate is estimated at 6.1%. The company presently sports a Zacks Rank #1.
QIAGEN’s long-term earnings growth rate is estimated at 18.3%. It currently flaunts a Zacks Rank #1.
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Integra Reports Organic Sales Drop in Preliminary Q2 Results
Integra LifeSciences Holdings Corporation (IART - Free Report) recently announced the preliminary revenue results for second-quarter 2020. The company is scheduled to release detailed financial results for the period on Aug 10.
Integra projects second-quarter 2020 revenues in the band of $254-$256 million. This represents an organic revenue decline of 32% and 34% on a reported basis. The Zacks Consensus Estimate for the same is currently pinned at $255 million.
Management noted that there was a sequential improvement in monthly sales performance throughout the quarter due to the reopening of non-emergent surgical procedures and the easing of shelter-in-place restrictions. However, the average daily sales for the company in June were down 15% year over year
2020 Guidance
Integra LifeSciences, although upbeat about its improvement in monthly sales trends during the second quarter, is wary about the uncertainties related to the pandemic’s impacts. Hence, it is currently unable to estimate the revenue impact due to COVID-19 beyond the first half of 2020.
The company will, however, provide an update on Aug 10.
As of now, the Zacks Consensus Estimate for 2020 adjusted earnings per share is pegged at $1.77, while the same for revenues is $1.31 billion.
Price Performance
Shares of the company have lost 11.5% in the past year against the industry’s 10.4% growth and the S&P 500's 5.8% rise.
Zacks Rank & Other Key Picks
Currently, Integra carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks from the broader medical space include Quest Diagnostics Incorporated (DGX - Free Report) , Laboratory Corporation of America Holdings (LH - Free Report) or LabCorp and QIAGEN N.V. (QGEN - Free Report) .
Quest Diagnostics’ long-term earnings growth rate is projected at 7.6%. It currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
LabCorp’s long-term earnings growth rate is estimated at 6.1%. The company presently sports a Zacks Rank #1.
QIAGEN’s long-term earnings growth rate is estimated at 18.3%. It currently flaunts a Zacks Rank #1.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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