在指导变更后，Citi、BTIG的Integra LifeSciences评级被下调

2024-07-30 21:47

Citi and BTIG have downgraded Integra LifeSciences (NASDAQ:IART) after the specialty surgical company lowered its 2024 revenue and EPS outlook on July 29.
For 2024, the company sees revenue of $1.609B to $1.629B (consensus, $1.64B) and adjusted EPS guidance to a range of $2.41 to $2.57 per share (consensus, $2.73).
Both Citi and BTIG downgraded the stock to sell from neutral. Citi's new price target is $23, down from $30 (~9.5% downside based on July 29 close) while BTIG's new target is $22 (~13% downside).
Citi's Joanne Wuensch noted that Integra's future results will be impacted by the implementation of a Compliance Master Plan that, among other things, includes a ship hold on certain products.
BTIG's Ryan Zimmerman said the company's manufacturing and quality control likely won't see recovery until 2026. He also criticized Integra for not only doing a bad job of improving its operations, "but an even worse job communicating these issues and setting appropriate expectations."

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