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Integra LifeSciences Holdings Corporation

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Integra LifeSciences exited the third quarter on a dull note with earnings in line and revenues missing the consensus mark. Significant gross margin contractions caused by escalating costs have been a major headwind. A tough competitive landscape adds to the woes. On a positive note, solid growth across all business segments has been the key growth catalyst. Integra’s successful progress with its channel expansion strategy and Codman integration buoy optimism. Notably, the company announced plans within Orthopedics and Tissue Technologies segment to expand its sales channel, improve focus and competitiveness and better align the company’s product portfolio with clinical customers. Moreover, the strong investments in research and development is encouraging. However, the company’s reduced 2018 revenue guidance fails to instill confidence in the stock. Integra Lifesciences has underperformed its industry over the past three months.

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