# Integra LifeSciences Holdings Corporation (IART)

> Source: Nexqual · https://nexqual.com/IART · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Integra LifeSciences Holdings Corporation (IART), nexqual.com/IART" · informational, not investment advice.

**Price:** USD 12.33 (+4.10% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 11.84 · day 11.66–12.36 · 52w 8.7–20.49 · market cap $959M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.65B, net income -$7.2M (-0.4% margin), free cash flow $25.8M (SEC filings).
- Analysts: Hold (mean 3.00 on a 1–5 scale) (12 analysts), mean target USD 16.44 (range 13–23).
- Total return with dividends: 1Y -22.4% vs S&P 500 +14.9%; 5Y -82.6% vs S&P 500 +80.3%.
- Next earnings: 2026-10-21, EPS estimate USD 0.64, revenue estimate $422M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.54B | $1.56B | $1.54B | $1.61B | $1.64B | $1.65B |
| Gross profit | $945M | $970M | $885M | $882M | $832M | — |
| Operating income | $197M | $239M | $112M | $28.4M | -$493M | $65.6M |
| Net income | $169M | $181M | $67.7M | -$6.9M | -$516M | -$7.2M |
| EPS (diluted) | $1.98 | $2.16 | $0.84 | -$0.09 | -$6.74 | — |
| Free cash flow | $264M | $222M | $73.1M | $25.0M | -$31.1M | $25.8M |
| Gross margin | 61.2% | 62.3% | 57.4% | 54.8% | 50.9% | — |
| Operating margin | 12.8% | 15.3% | 7.2% | 1.8% | -30.2% | 4.0% |
| Net margin | 11.0% | 11.6% | 4.4% | -0.4% | -31.6% | -0.4% |
| Revenue growth | +12.4% | +1.0% | -1.0% | +4.5% | +1.5% | — |
| Cash + short-term investments | $513M | $457M | $309M | $274M | $264M | — |
| Total debt | $844M | $775M | $775M | $760M | $727M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.6x · EV/Sales 0.8x · P/FCF 37.2x · P/B 0.9x · FCF yield 2.69% · Earnings yield -0.76% · Net debt $433M · EV $1.39B
P/E at fiscal year-ends: Dec 2023 51.6x.

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 12 analysts; mean target USD 16.44 (low 13, high 23).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Citigroup | Target lowered | Neutral | $15 → $14 |
| 2026-10-22 | BMO Capital | Target lowered | Market Perform | $15 → $14 |
| 2026-10-22 | Wells Fargo | Target lowered | Equal-Weight | $15 → $13 |
| 2026-10-22 | Citizens | Target lowered | Market Outperform | $25 → $22 |
| 2026-10-22 | JP Morgan | Target lowered | Underweight | $17 → $14 |
| 2026-10-14 | Truist Securities | Target lowered | Hold | $19 → $15 |
| 2026-10-05 | Citigroup | Target lowered | Neutral | $19 → $15 |
| 2026-10-05 | BMO Capital | Target lowered | Market Perform | $18 → $15 |
| 2026-07-30 | Wells Fargo | Target raised | Equal-Weight | $15 → $18 |
| 2026-07-28 | UBS | Initiated | Neutral | $19 |
| 2026-07-16 | Truist Securities | Target raised | Hold | $14 → $19 |
| 2026-07-09 | BMO Capital | Initiated | Market Perform | $19 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -22.4% | -82.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -22.4% | -29.4% |
| Volatility (annualized) | 66.1% | 51.6% |
| Max drawdown | -44.8% (Oct 2025→Mar 2026) | -87.6% (Nov 2021→Mar 2026) |

## Peers (Medical Devices)
NVCR (NovoCure Limited) USD 15.1 -3.14% · BFLY (Butterfly Network, Inc.) USD 6.81 -4.08% · ESTA (Establishment Labs Holdings Inc) USD 63.52 +1.99% · ALMR (Alamar Biosciences, Inc.) USD 29.72 -5.50% · INSP (Inspire Medical Systems, Inc.) USD 72.66 +2.24% · AXGN (AxoGen, Inc.) USD 36.68 +0.55%

## More
Full page: https://nexqual.com/IART · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Specialty Surgery | $309.3M | 73.9% | +1.7% | $88.9M | 28.7% |
| Tissue Reconstruction | $109.5M | 26.1% | -1.9% | $18.9M | 17.3% |
| Corporate costs (not allocated) | — | — | — | -$88.5M | — |
| Total revenue | $418.8M | 100% | — | $19.3M | 4.6% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Neurosurgery | $213.3M | 50.9% | +2.0% |
| Wound Reconstruction Solutions | $81.3M | 19.4% | -4.1% |
| Surgical Instruments | $54.8M | 13.1% | +3.3% |
| ENT Solutions | $41.2M | 9.8% | -1.6% |
| Private Label | $28.2M | 6.7% | +4.8% |
| Total revenue | $418.8M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $307.1M | 73.3% | +0.3% |
| Asia Pacific | $48.7M | 11.6% | +2.0% |
| Europe | $42.6M | 10.2% | -0.1% |
| Rest of World | $20.4M | 4.9% | +7.5% |
| Total revenue | $418.8M | 100% | — |

## Company outlook (8-K filed 2026-10-21)

- "For the fourth quarter of 2026, the Company expects reported revenues in the range of $413 million to $433 million, representing a reported decline of -5.2% to -0.5% and an organic decline of -5.1% to -0.4%."
- "The Company expects adjusted earnings per diluted share in the range of $0.61 to $0.71."
- "For the full year 2026, the Company expects revenues in the range of $1.634 billion to $1.654 billion representing reported growth of -0.1% to 1.2% and organic growth of -0.3% to 0.9%."
- "The Company expects adjusted earnings per diluted share in the range of $2.30 to $2.40."

Analysts expect $422.4M for the current quarter, -0.1% vs the guidance midpoint $423.0M. Source: https://www.sec.gov/Archives/edgar/data/917520/000091752026000073/ex991-q32026earningsrelease.htm

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.64 | $0.87 | -25.7% | $422.4M | 11 |
| Next quarter (ends 2027-03-31) | $0.51 | $0.55 | -8.0% | $388.0M | 7 |
| Current fiscal year (ends 2026-12-31) | $2.33 | $2.45 | -4.8% | $1.64B | 11 |
| Next fiscal year (ends 2027-12-31) | $2.38 | $2.62 | -9.0% | $1.67B | 12 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 100.4% | ±29.8% |
| 2026-12-18 | 56 | 56.7% | ±16.3% |
| 2027-03-19 | 147 | 73.0% | ±37.3% |
| 2027-06-17 | 237 | 76.9% | ±48.4% |