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Integra (IART) Rises 5% on Robust Preliminary Q4 Results
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Shares of Integra LifeSciences Holdings Corporation (IART - Free Report) gained 4.8% to close at $46.57 on Tuesday following the announcement of strong preliminary fourth-quarter 2018 financial results. The company is expected to release its final, audited fourth-quarter and full-year financial report in February 2019.
The Prelim Results
In the to-be-reported quarter, Integra LifeSciences estimates total revenues to come in at the upper end of its previously projected band of $378-$383 million. Organic revenue growth for the fourth quarter of 2018 is anticipated to be slightly above 4%. The Zacks Consensus Estimate for fourth-quarter revenues is currently pegged at $380.83 million, dipping 0.6% below the upper end of the guided range.
Notably, on last reported quarter’s earnings call, the company lowered its full-year revenue forecast to $1.467-$1.472 billion (earlier, the outlook was $1.475-$1.49 billion). The Zacks Consensus Estimate for 2018 revenues of $1.49 billion remains above the predicted range. Per Integra LifeSciences, the view was trimmed on expectation of approximately 4% organic growth for 2018 as compared to the past projection of nearly 5%.
However, the company reiterates its full-year forecast for adjusted earnings per share within $2.36-$2.42. The Zacks Consensus Estimate for the metric is pegged at $2.40, falling under the company’s envisioned band.
CFO Alliance Update
In a separate press release, the company signed a license and development agreement with Consortium of Focused Orthopedists, LLC (CFO) for a short stem and stemless shoulder system. According to Integra LifeSciences, the alliance will expand the company’s Extremity Orthopedics portfolio in the fast-growing shoulder arthroplasty market.
Share Price Movement
Shares of the company have underperformed its industry over the past six months. The stock has lost 10.1%, wider than the 26.6% decline of the industry.
Zacks Rank & Key Picks
Integra LifeSciences currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Veeva Systems (VEEV - Free Report) , Surmodics, Inc. (SRDX - Free Report) and athenahealth, Inc. .
Surmodics’ long-term earnings growth rate is projected at 10%. The stock carries a Zacks Rank #2 (Buy).
athenahealth’s long-term earnings growth rate is projected at 17.7%. The stock has a Zacks Rank of 2.
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It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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Integra (IART) Rises 5% on Robust Preliminary Q4 Results
Shares of Integra LifeSciences Holdings Corporation (IART - Free Report) gained 4.8% to close at $46.57 on Tuesday following the announcement of strong preliminary fourth-quarter 2018 financial results. The company is expected to release its final, audited fourth-quarter and full-year financial report in February 2019.
The Prelim Results
In the to-be-reported quarter, Integra LifeSciences estimates total revenues to come in at the upper end of its previously projected band of $378-$383 million. Organic revenue growth for the fourth quarter of 2018 is anticipated to be slightly above 4%. The Zacks Consensus Estimate for fourth-quarter revenues is currently pegged at $380.83 million, dipping 0.6% below the upper end of the guided range.
Notably, on last reported quarter’s earnings call, the company lowered its full-year revenue forecast to $1.467-$1.472 billion (earlier, the outlook was $1.475-$1.49 billion). The Zacks Consensus Estimate for 2018 revenues of $1.49 billion remains above the predicted range. Per Integra LifeSciences, the view was trimmed on expectation of approximately 4% organic growth for 2018 as compared to the past projection of nearly 5%.
However, the company reiterates its full-year forecast for adjusted earnings per share within $2.36-$2.42. The Zacks Consensus Estimate for the metric is pegged at $2.40, falling under the company’s envisioned band.
CFO Alliance Update
In a separate press release, the company signed a license and development agreement with Consortium of Focused Orthopedists, LLC (CFO) for a short stem and stemless shoulder system. According to Integra LifeSciences, the alliance will expand the company’s Extremity Orthopedics portfolio in the fast-growing shoulder arthroplasty market.
Share Price Movement
Shares of the company have underperformed its industry over the past six months. The stock has lost 10.1%, wider than the 26.6% decline of the industry.
Zacks Rank & Key Picks
Integra LifeSciences currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Veeva Systems (VEEV - Free Report) , Surmodics, Inc. (SRDX - Free Report) and athenahealth, Inc. .
Veeva Systems’ long-term earnings growth rate is estimated at 19.5%. The stock flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Surmodics’ long-term earnings growth rate is projected at 10%. The stock carries a Zacks Rank #2 (Buy).
athenahealth’s long-term earnings growth rate is projected at 17.7%. The stock has a Zacks Rank of 2.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>