Integra Lifesciences (IART)
Market Price (4/28/2026): $10.69 | Market Cap: $820.7 MilSector: Health Care | Industry: Health Care Equipment
Integra Lifesciences (IART)
Market Price (4/28/2026): $10.69Market Cap: $820.7 MilSector: Health CareIndustry: Health Care Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -25% Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Geriatric Care, Oncology Treatments, Show more. | Weak multi-year price returns2Y Excs Rtn is -106%, 3Y Excs Rtn is -155% Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 12.05, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 216% Weak revenue growthRev Chg QQuarterly Revenue Change % is -1.7% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.8% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -67% Key risksIART key risks include [1] persistent manufacturing and quality control failures, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -25% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Geriatric Care, Oncology Treatments, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -106%, 3Y Excs Rtn is -155% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 12.05, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 216% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -1.7% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.8% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -67% |
| Key risksIART key risks include [1] persistent manufacturing and quality control failures, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Weak Fourth Quarter and Full-Year 2025 Financial Performance.
Integra Lifesciences reported a decline in its fourth-quarter 2025 revenues, which decreased by 1.7% on a reported basis and 2.5% organically compared to the fourth quarter of 2024. The company also posted a GAAP earnings per diluted share (EPS) loss of $(0.02) for Q4 2025, a significant drop from $0.25 in the prior year's fourth quarter. For the full year 2025, GAAP EPS was a substantial loss of $(6.74), primarily driven by a $511 million goodwill impairment, compared to a loss of $(0.09) in 2024.
2. FDA Alert and Ongoing Quality Control Challenges.
In January 2026, the FDA issued an alert concerning certain Integra wound and burn care products, citing risks of infection due to packaging and production failures. As of December 19, 2025, Integra reported 11 serious injuries linked to MediHoney Wound and Burn products and three serious injuries associated with CVS Wound Gel products. This operational inconsistency and quality control issues were further highlighted by an Argus analyst downgrade of IART from "Buy" to "Hold" on April 15, 2026.
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Stock Movement Drivers
Fundamental Drivers
The -13.9% change in IART stock from 12/31/2025 to 4/27/2026 was primarily driven by a -13.5% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 4272026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.42 | 10.69 | -13.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,643 | 1,635 | -0.5% |
| P/S Multiple | 0.6 | 0.5 | -13.5% |
| Shares Outstanding (Mil) | 77 | 77 | 0.0% |
| Cumulative Contribution | -13.9% |
Market Drivers
12/31/2025 to 4/27/2026| Return | Correlation | |
|---|---|---|
| IART | -13.9% | |
| Market (SPY) | 4.2% | 45.5% |
| Sector (XLV) | -7.3% | 42.3% |
Fundamental Drivers
The -25.4% change in IART stock from 9/30/2025 to 4/27/2026 was primarily driven by a -25.9% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 4272026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.33 | 10.69 | -25.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,622 | 1,635 | 0.8% |
| P/S Multiple | 0.7 | 0.5 | -25.9% |
| Shares Outstanding (Mil) | 77 | 77 | -0.1% |
| Cumulative Contribution | -25.4% |
Market Drivers
9/30/2025 to 4/27/2026| Return | Correlation | |
|---|---|---|
| IART | -25.4% | |
| Market (SPY) | 7.0% | 43.1% |
| Sector (XLV) | 3.5% | 37.3% |
Fundamental Drivers
The -51.4% change in IART stock from 3/31/2025 to 4/27/2026 was primarily driven by a -51.9% change in the company's P/S Multiple.| (LTM values as of) | 3312025 | 4272026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.99 | 10.69 | -51.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,611 | 1,635 | 1.5% |
| P/S Multiple | 1.0 | 0.5 | -51.9% |
| Shares Outstanding (Mil) | 76 | 77 | -0.4% |
| Cumulative Contribution | -51.4% |
Market Drivers
3/31/2025 to 4/27/2026| Return | Correlation | |
|---|---|---|
| IART | -51.4% | |
| Market (SPY) | 28.1% | 45.8% |
| Sector (XLV) | -0.4% | 43.4% |
Fundamental Drivers
The -81.4% change in IART stock from 3/31/2023 to 4/27/2026 was primarily driven by a -83.6% change in the company's P/S Multiple.| (LTM values as of) | 3312023 | 4272026 | Change |
|---|---|---|---|
| Stock Price ($) | 57.41 | 10.69 | -81.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,558 | 1,635 | 5.0% |
| P/S Multiple | 3.1 | 0.5 | -83.6% |
| Shares Outstanding (Mil) | 83 | 77 | 8.3% |
| Cumulative Contribution | -81.4% |
Market Drivers
3/31/2023 to 4/27/2026| Return | Correlation | |
|---|---|---|
| IART | -81.4% | |
| Market (SPY) | 79.8% | 35.7% |
| Sector (XLV) | 16.0% | 36.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| IART Return | 3% | -16% | -22% | -48% | -45% | -14% | -84% |
| Peers Return | 3% | -2% | 9% | 12% | 13% | -9% | 26% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 5% | 91% |
Monthly Win Rates [3] | |||||||
| IART Win Rate | 58% | 50% | 50% | 25% | 33% | 50% | |
| Peers Win Rate | 48% | 52% | 52% | 55% | 58% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| IART Max Drawdown | -4% | -38% | -39% | -61% | -51% | -28% | |
| Peers Max Drawdown | -10% | -19% | -9% | -6% | -5% | -13% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MDT, SYK, JNJ, BSX, ZBH. See IART Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/27/2026 (YTD)
How Low Can It Go
| Event | IART | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -55.4% | -25.4% |
| % Gain to Breakeven | 124.0% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -39.9% | -33.9% |
| % Gain to Breakeven | 66.5% | 51.3% |
| Time to Breakeven | 269 days | 148 days |
| 2018 Correction | ||
| % Loss | -36.6% | -19.8% |
| % Gain to Breakeven | 57.7% | 24.7% |
| Time to Breakeven | 752 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -63.3% | -56.8% |
| % Gain to Breakeven | 172.8% | 131.3% |
| Time to Breakeven | 780 days | 1,480 days |
Compare to MDT, SYK, JNJ, BSX, ZBH
In The Past
Integra Lifesciences's stock fell -55.4% during the 2022 Inflation Shock from a high on 4/27/2021. A -55.4% loss requires a 124.0% gain to breakeven.
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About Integra Lifesciences (IART)
AI Analysis | Feedback
Here are 1-3 brief analogies to describe Integra Lifesciences (IART):
- Medtronic for neurosurgical tools and advanced regenerative tissue products.
- A specialized Johnson & Johnson, concentrating on surgical implants and regenerative technologies.
AI Analysis | Feedback
- Neurosurgery and Neuro Critical Care Products: A range of equipment and devices for tissue ablation, dural repair, cerebral spinal fluid management, intracranial monitoring, and cranial stabilization.
- Surgical Instruments and Lighting: Approximately 40,000 patterns of surgical instruments and headlamps used in various surgical procedures.
- Wound and Regenerative Technology Products: Products designed for the treatment of acute and chronic wounds, encompassing skin and wound repair.
- Surgical Tissue Repair Products: Solutions for hernia repair, peripheral nerve repair and protection, tendon repair, and plastics and surgical reconstruction.
- Bone Grafts: Materials utilized for promoting bone healing and repair.
- Asset Management Software and Services: Software and support for managing medical assets, alongside general after-market services.
AI Analysis | Feedback
```htmlIntegra LifeSciences (IART) sells primarily to other companies and organizations within the healthcare sector rather than directly to individuals. The provided company description does not name specific public companies as its major customers. Instead, it identifies the following categories of organizational customers:
- Hospitals and Surgery Centers: These are the primary direct purchasers and users of Integra's specialized surgical implants, medical instruments, and regenerative technology products for various surgical procedures.
- Integrated Health Networks (IHNs) and Group Purchasing Organizations (GPOs): Integra sells its products through these larger organizations, which represent multiple healthcare facilities and streamline procurement processes for hospitals and surgery centers.
- Specialty Medical Offices: This category includes dental, podiatry, and veterinary offices, which purchase Integra's instrument patterns, surgical, and lighting products.
- Clinicians and Healthcare Providers: While not always direct purchasing entities themselves, these professionals make treatment decisions and utilize Integra's products within the hospitals, surgery centers, and other medical offices.
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Mojdeh Poul, President & Chief Executive Officer
Mojdeh Poul joined Integra LifeSciences in January 2025 as President and Chief Executive Officer. She is a seasoned global healthcare executive with expertise in business strategy, transformation, commercial excellence, and leadership development. Prior to Integra, Ms. Poul was the executive vice president and group president for 3M's $8.5 billion Global Healthcare Business, where she was accountable for R&D, manufacturing, commercial operations, quality, and regulatory functions. At 3M, she led the transformation of the healthcare portfolio through strategic acquisitions, divestitures, and organic product and business model innovation. Before 3M, she held global business leadership positions at Medtronic and Boston Scientific, focusing on accelerating the penetration of neuromodulation and emerging cardiovascular technologies. Ms. Poul currently serves on the board of directors and audit committee at Align Technology and iRhythm Technologies, and on the board of directors, audit, and compensation and talent development committees at Stanley Black & Decker.
Lea Daniels Knight, Executive Vice President & Chief Financial Officer
Lea Daniels Knight was appointed Executive Vice President and Chief Financial Officer, effective June 28, 2023. She brings over 30 years of experience in global companies, demonstrating success in combining financial acumen with strategic vision. Most recently, Ms. Knight served as the executive vice president of business finance for Booz Allen Hamilton, providing strategic and financial leadership across its business sectors. Before Booz Allen Hamilton, she spent 18 years at Johnson & Johnson, where she held finance roles of increasing responsibility, including chief financial officer of Johnson & Johnson's North America pharmaceuticals business. During her tenure at J&J, she contributed to cost optimization, risk management, and innovative solutions across various operating companies. Ms. Knight began her career in public accounting at Arthur Andersen LLP, where she managed audit engagements and helped establish the firm's Healthcare Consulting and Mergers & Acquisitions practices for the Philadelphia office.
Michael McBreen, Executive Vice President & President, Codman Specialty Surgical
Michael McBreen is the Executive Vice President and President of Codman Specialty Surgical, responsible for the strategic direction and commercial operations of the company's neurosurgical portfolio and surgical instrumentation. A 30-year veteran of the medical device industry, he joined Integra in 2017 following the acquisition of Codman Neurosurgery from Johnson & Johnson. His prior roles at Johnson & Johnson included leading U.S. commercial and global marketing for Codman Neurosurgery and Neurovascular businesses, and serving as worldwide vice president for professional education for the Johnson & Johnson Medical Device and Diagnostics Sector.
Robert T. Davis, Jr., Executive Vice President & President, Tissue Technologies
Robert T. Davis, Jr. serves as the Executive Vice President and President of Tissue Technologies for Integra LifeSciences. He is a key member of the management team overseeing the Tissue Technologies segment.
Michael Hutchinson, Executive Vice President, Chief Legal Officer & Company Secretary
Michael Hutchinson was appointed Executive Vice President, Chief Legal Officer & Company Secretary in February 2026. In this role, he leads Integra LifeSciences' global legal, compliance, and environmental, social, and governance (ESG) functions, and acts as the principal legal advisor to the executive leadership team and board of directors.
AI Analysis | Feedback
The key risks to Integra LifeSciences' business (IART) primarily revolve around its ongoing challenges with regulatory compliance, operational execution, and the competitive pressures within the medical technology industry.
- Regulatory and Quality Control Issues: Integra LifeSciences faces significant and recurring challenges related to regulatory compliance and quality control. This includes a history of FDA warning letters, voluntary global recalls of products (such as those manufactured at its Boston, Massachusetts facility), and concerns regarding issues like endotoxin contamination and inadequate sterilization procedures. The company is actively working to address these issues through a "Compliance Master Plan" to improve its quality management systems. These regulatory hurdles and quality control failures have led to manufacturing stoppages, shipping holds, and have had a material impact on the company's financial performance and reputation.
- Operational and Execution Challenges: Closely intertwined with its regulatory issues, Integra LifeSciences has experienced significant operational and execution challenges. These include supply chain disruptions, particularly with sole-source suppliers for key components, and delays in manufacturing and product relaunches (e.g., SurgiMend). The company's inability to consistently meet customer demand due to these disruptions has affected its revenue growth and profitability. The ongoing remediation efforts and transition of manufacturing operations to new facilities (like Braintree, Massachusetts) are critical but also contribute to an extended turnaround timeline and elevated capital expenditures.
- Intense Competition and Market Pressures: Integra operates in a highly competitive medical device industry. The company faces ongoing market risks from intense competition, pricing pressures due to healthcare reforms, and demands from third-party payors. The operational and quality control issues have exacerbated this risk, potentially allowing rivals to gain market share by converting Integra's customers when the company cannot meet their needs or supply products. The wound care segment, in particular, is noted as increasingly competitive.
AI Analysis | Feedback
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Integra LifeSciences Holdings Corporation operates in several significant addressable markets for its diverse range of surgical implants and medical instruments. The market sizes for its main products and services are outlined below, with specific regional indications where available:
Neurosurgery and Neuro Critical Care Products
- Neurosurgery Devices: The global neurosurgery device market was valued at approximately USD 13.7 billion in 2024 and is projected to reach around USD 27.9 billion by 2030.
- Neurosurgical Instruments: A subset of neurosurgery devices, the global neurosurgical instruments market size was estimated at USD 1.76 billion in 2024 and is projected to reach USD 2.62 billion by 2030.
- Dural Repair Products: The global dural repair materials market is estimated at USD 1.131 billion in 2025, with projections to exceed USD 1.5 billion by 2030. Specifically, the global dural repair patch market size was valued at USD 812 million in 2024.
- Cerebral Spinal Fluid (CSF) Management Devices: The global cerebrospinal fluid (CSF) management market was valued at USD 1.84 billion in 2024, with projections to reach USD 2.61 billion by 2030.
- Intracranial Monitoring Equipment: The global intracranial pressure (ICP) monitoring devices market size was valued at USD 1.82 billion in 2024 and is projected to reach USD 2.85 billion by 2030.
- Cranial Stabilization Equipment: The global cranial fixation and stabilization devices market size was estimated at USD 2.4 billion in 2024 and is projected to reach USD 3.5 billion by 2030.
- Tissue Ablation Equipment: The global ablation devices market, which includes tissue ablation equipment, was valued at USD 10.42 billion in 2024.
- Surgical Headlamps: The global surgical headlight market size was estimated at USD 430 million in 2025.
General Surgery
- Surgical Instruments (General): The global surgical equipment market size was valued at USD 20.75 billion in 2024 and is poised to grow to USD 48.14 billion by 2033. The global minimally invasive surgical instruments market, a significant part of general surgery, was valued at USD 31.7 billion in 2024 and is projected to advance to USD 49.9 billion by 2029.
Regenerative Technology and Tissue Technologies
- Regenerative Technology Products for Acute and Chronic Wounds: The global regenerative wound care market was valued at USD 10.27 billion in 2024 and is expected to reach USD 14.54 billion by 2030. The broader global wound care market was estimated at USD 24.9 billion in 2024.
- Surgical Tissue Repair (Hernia, Peripheral Nerve, and Tendon Repair):
- Hernia Repair Devices: The global hernia repair devices market size was approximately USD 4.25 billion in 2024.
- Peripheral Nerve Repair and Protection: The global peripheral nerve repair devices market reached USD 11.71 billion in 2025.
- Tendon Repair: The global tendon repair market size is calculated at USD 2.25 billion in 2024 and is projected to reach around USD 3.99 billion by 2034.
- Bone Grafts: The global bone graft substitutes market size was valued at USD 4.29 billion in 2025 and is projected to grow to USD 7.64 billion by 2034.
- Plastics and Surgical Reconstruction Products: The global reconstructive surgery market was valued at USD 46 billion in 2021 and is projected to reach USD 61.04 billion by 2029. The global plastic surgery instruments market was valued at USD 1.65 billion in 2024.
AI Analysis | Feedback
Integra LifeSciences (IART) is anticipated to drive future revenue growth over the next two to three years through several key initiatives and market dynamics:
- New Product Launches and Relaunches: The company expects growth from recently launched products like the MAYFIELD Ghost in the U.S. and an expanded indication for CUSA Clarity in cardiac surgery. Additionally, Integra LifeSciences has successfully relaunched PriMatrix and Durepair ahead of schedule. A significant anticipated driver is the return of SurgiMend to the market in the fourth quarter of 2026, pending process validations and inventory build, which, along with DuraSorb, is expected to expand its biologic and synthetic portfolio for breast reconstruction.
- International Expansion, particularly the "In-China-For-China" Strategy: Integra LifeSciences is actively pursuing an "In-China-For-China" strategy, having completed initial regulatory submissions to reinforce its foundation for future growth in the region. The company noted high single-digit growth internationally, particularly in China and Canada, within its global neurosurgery segment in the fourth quarter of 2025.
- Improved Supply Reliability and Enhanced Operational Execution: The company has prioritized and achieved significant outcomes in supply chain resiliency, leading to improved supply reliability and execution capabilities. These operational improvements are expected to mitigate past supply constraints that limited revenue, particularly in the Tissue Technologies and Codman Specialty Surgical (CSS) segments. Addressing these challenges is crucial for meeting demand and driving revenue growth.
- Transformation Plan and New Operating Model: Integra LifeSciences implemented a new operating model designed to reduce complexity and enhance efficiency, with benefits expected to materialize starting in the second quarter of 2026. This transformation plan is linked to long-term sustainable growth, innovation, and performance, aiming for $25 million to $30 million in savings in 2026, which indirectly supports revenue by optimizing operations and improving profitability.
- Favorable Reimbursement Landscape for Skin Substitutes: Policy advancements from the Centers for Medicare & Medicaid Services (CMS) regarding the Calendar Year 2026 Medicare Physician Fee Schedule and Outpatient Prospective Payment System rules are expected to expand access to Integra's diverse portfolio of skin substitutes. These products, including Integra® matrices, PriMatrix®, Cytal®, and AmnioExcel®, are now uniformly reimbursed across care settings, which is anticipated to reward innovation, quality, and patient outcomes, thereby driving increased adoption and revenue.
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Share Repurchases
- Integra LifeSciences authorized a new $225 million share repurchase program in July 2023, replacing a previous program from April 2022. This program was set to expire in December 2025.
- As of December 31, 2024, approximately $50 million remained authorized under the July 2023 share repurchase program.
- In December 2022, the company announced plans for a $150 million share repurchase program in conjunction with the acquisition of Surgical Innovation Associates.
Share Issuance
- The number of common shares outstanding was 77,218,920 as of February 24, 2025.
- As of February 25, 2026, there were 77,937,208 common shares outstanding.
- The weighted average common shares outstanding for diluted net income per share for the full year 2025 was 76,777,000.
Outbound Investments
- In December 2023, Integra LifeSciences agreed to acquire Acclarent for $275 million in cash, plus an additional $5 million upon the achievement of specific regulatory milestones, to enhance its ENT division.
- In December 2022, Integra LifeSciences acquired Surgical Innovation Associates (SIA) for $50 million at closing, with potential additional payments of up to $90 million based on revenue and regulatory milestones. This acquisition added DuraSorb, a resorbable synthetic matrix for plastic and reconstructive surgery.
Capital Expenditures
- Full-year capital expenditures for 2025 totaled $81.4 million.
- The company is investing in relocating and expanding manufacturing capacity, including a new Braintree, Massachusetts facility, expected to be operational by the end of June 2026.
- Operating cash flow for 2026 is projected to exceed $200 million, representing a $150 million improvement over 2025, partly due to reduced spending on EU MDR compliance and the Braintree facility construction.
Latest Trefis Analyses
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 03312026 | PGNY | Progyny | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 03272026 | CNC | Centene | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 2.3% | 2.3% | -0.6% |
| 03272026 | OSCR | Oscar Health | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 3.0% | 3.0% | -2.6% |
| 03202026 | WAT | Waters | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.4% | -0.4% | -3.3% |
| 03202026 | GILD | Gilead Sciences | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 1.6% | 1.6% | -2.2% |
| 05312024 | IART | Integra Lifesciences | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -20.5% | -59.0% | -60.4% |
| 09302023 | IART | Integra Lifesciences | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -7.2% | -53.2% | -55.1% |
| 08312022 | IART | Integra Lifesciences | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 14.9% | -10.8% | -20.5% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 87.75 |
| Mkt Cap | 97.6 |
| Rev LTM | 22,596 |
| Op Inc LTM | 4,515 |
| FCF LTM | 3,844 |
| FCF 3Y Avg | 3,063 |
| CFO LTM | 4,789 |
| CFO 3Y Avg | 3,912 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.5% |
| Rev Chg 3Y Avg | 5.4% |
| Rev Chg Q | 10.4% |
| QoQ Delta Rev Chg LTM | 2.5% |
| Op Inc Chg LTM | 9.8% |
| Op Inc Chg 3Y Avg | 5.5% |
| Op Mgn LTM | 19.2% |
| Op Mgn 3Y Avg | 18.6% |
| QoQ Delta Op Mgn LTM | -0.6% |
| CFO/Rev LTM | 20.6% |
| CFO/Rev 3Y Avg | 20.4% |
| FCF/Rev LTM | 17.0% |
| FCF/Rev 3Y Avg | 15.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 97.6 |
| P/S | 3.7 |
| P/Op Inc | 21.7 |
| P/EBIT | 18.9 |
| P/E | 25.8 |
| P/CFO | 17.9 |
| Total Yield | 4.3% |
| Dividend Yield | 1.0% |
| FCF Yield 3Y Avg | 3.5% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -2.2% |
| 3M Rtn | -7.5% |
| 6M Rtn | -12.2% |
| 12M Rtn | -8.4% |
| 3Y Rtn | 6.8% |
| 1M Excs Rtn | -13.6% |
| 3M Excs Rtn | -10.7% |
| 6M Excs Rtn | -18.6% |
| 12M Excs Rtn | -38.7% |
| 3Y Excs Rtn | -62.9% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Codman Specialty Surgical | 1,144 | 1,059 | 1,020 | 1,025 | 895 |
| Tissue Technologies | 467 | 483 | 538 | 517 | 477 |
| Corporate and other | 0 | 0 | |||
| Total | 1,611 | 1,542 | 1,558 | 1,542 | 1,372 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Codman Specialty Surgical | 504 | 451 | 418 | 439 | 357 |
| Tissue Technologies | 139 | 134 | 234 | 228 | 160 |
| Corporate and other | -615 | -473 | -399 | -454 | -337 |
| Amortization | -14 | -17 | -28 | ||
| Total | 28 | 112 | 239 | 197 | 151 |
Price Behavior
| Market Price | $10.69 | |
| Market Cap ($ Bil) | 0.8 | |
| First Trading Date | 08/16/1995 | |
| Distance from 52W High | -38.4% | |
| 50 Days | 200 Days | |
| DMA Price | $10.21 | $12.45 |
| DMA Trend | down | down |
| Distance from DMA | 4.7% | -14.2% |
| 3M | 1YR | |
| Volatility | 45.4% | 60.7% |
| Downside Capture | 0.85 | 1.50 |
| Upside Capture | 87.56 | 139.94 |
| Correlation (SPY) | 47.5% | 47.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.68 | 1.19 | 1.18 | 1.76 | 1.45 | 1.21 |
| Up Beta | 6.22 | 2.01 | 2.82 | 2.42 | 1.11 | 1.11 |
| Down Beta | 1.29 | 2.04 | 1.82 | 2.32 | 1.42 | 1.41 |
| Up Capture | -168% | 26% | -21% | 87% | 140% | 38% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 9 | 22 | 31 | 62 | 122 | 372 |
| Down Capture | 105% | 109% | 116% | 156% | 158% | 110% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 12 | 19 | 30 | 61 | 125 | 371 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IART | |
|---|---|---|---|---|
| IART | -32.2% | 60.3% | -0.40 | - |
| Sector ETF (XLV) | 5.9% | 15.8% | 0.17 | 40.8% |
| Equity (SPY) | 31.2% | 12.5% | 1.91 | 47.1% |
| Gold (GLD) | 39.7% | 27.2% | 1.21 | -6.5% |
| Commodities (DBC) | 45.1% | 18.1% | 1.93 | -12.3% |
| Real Estate (VNQ) | 13.1% | 13.4% | 0.67 | 34.7% |
| Bitcoin (BTCUSD) | -17.7% | 42.1% | -0.35 | 18.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IART | |
|---|---|---|---|---|
| IART | -31.1% | 44.8% | -0.68 | - |
| Sector ETF (XLV) | 4.9% | 14.6% | 0.16 | 40.0% |
| Equity (SPY) | 12.9% | 17.1% | 0.59 | 40.0% |
| Gold (GLD) | 20.9% | 17.8% | 0.96 | -0.3% |
| Commodities (DBC) | 14.5% | 19.1% | 0.62 | 6.2% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 38.9% |
| Bitcoin (BTCUSD) | 6.5% | 56.3% | 0.33 | 13.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IART | |
|---|---|---|---|---|
| IART | -10.3% | 38.5% | -0.16 | - |
| Sector ETF (XLV) | 9.1% | 16.5% | 0.45 | 43.9% |
| Equity (SPY) | 14.8% | 17.9% | 0.71 | 44.6% |
| Gold (GLD) | 13.8% | 15.9% | 0.72 | -2.2% |
| Commodities (DBC) | 10.0% | 17.8% | 0.47 | 13.2% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 41.0% |
| Bitcoin (BTCUSD) | 68.2% | 66.9% | 1.07 | 8.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/26/2026 | -2.2% | -10.4% | -19.1% |
| 10/30/2025 | -23.5% | -26.1% | -15.4% |
| 7/31/2025 | 6.2% | 0.0% | 20.0% |
| 2/25/2025 | 12.1% | 2.0% | 0.6% |
| 11/4/2024 | 25.1% | 28.5% | 27.7% |
| 7/29/2024 | -19.1% | -23.5% | -33.3% |
| 2/28/2024 | -12.6% | -17.4% | -21.3% |
| 10/25/2023 | -5.0% | -3.3% | 5.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 11 | 10 |
| # Negative | 9 | 11 | 12 |
| Median Positive | 5.9% | 5.3% | 5.3% |
| Median Negative | -5.0% | -4.9% | -11.0% |
| Max Positive | 25.1% | 28.5% | 27.7% |
| Max Negative | -23.5% | -26.1% | -33.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 07/29/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 10/25/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| 06/30/2022 | 07/27/2022 | 10-Q |
| 03/31/2022 | 04/27/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | 375.00 Mil | 382.50 Mil | 390.00 Mil | ||||
| Q1 2026 EPS | 0.37 | 0.41 | 0.45 | ||||
| 2026 Revenue | 1.66 Bil | 1.68 Bil | 1.70 Bil | 3.2% | Raised | Guidance: 1.63 Bil for 2025 | |
| 2026 Revenue Growth | 1.6% | 2.85% | 4.1% | ||||
| 2026 EPS | 2.3 | 2.35 | 2.4 | 6.1% | Raised | Guidance: 2.21 for 2025 | |
Prior: Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue | 420.00 Mil | 430.00 Mil | 440.00 Mil | 3.6% | Higher New | Guidance: 415.00 Mil for Q3 2025 | |
| Q4 2025 Adjusted EPS | 0.79 | 0.81 | 0.84 | 91.8% | Higher New | Guidance: 0.42 for Q3 2025 | |
| 2025 Revenue | 1.62 Bil | 1.63 Bil | 1.64 Bil | -2.2% | Lowered | Guidance: 1.67 Bil for 2025 | |
| 2025 Adjusted EPS | 2.19 | 2.21 | 2.24 | -1.1% | Lowered | Guidance: 2.24 for 2025 | |
| 2026 Cost Savings | 25.00 Mil | 27.50 Mil | 30.00 Mil | ||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Graves, Jeffrey A | Direct | Buy | 11062025 | 11.35 | 9,000 | 102,150 | 466,326 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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