Jefferies Reiterates Buy on Integra LifeSciences (IART) After Meeting with Management
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Jefferies reiterated a Buy rating and $95.00 price target on Integra LifeSciences (NASDAQ: IART) after visiting with management. Discussions were centered around the company's restructuring, as well as revenue performance and margin outlook. IART's recent growth has come from better execution in existing markets and the biggest new opportunities are still relatively untapped. The regenerative portfolio remains a highlight and management again stressed the combination of Omnigraft, the TEI products, and VolTAC antimicrobial dressing position as well positioned to make a run at the outpatient wound setting.
Analyst Raj Denhoy commented, "On Thursday, we visited IART in NJ. Several areas of discussion were the significant restructuring that has taken place at IART; the recent strong revenue performance; the outsized opportunities still teed up; and the outlook for margin improvement. While the level of near-term investment needed to realize the opportunities remains a question, the longer-term opportunity remains significant."
Shares of Integra LifeSciences closed at $86.87 yesterday.
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