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Integra Lifesciences (IART)

Integra LifeSciences is a global leader in regenerative tissue technologies and neurosurgical solutions dedicated to limiting uncertainty for clinicians, so they can focus on providing the best patient care. Integra offers a comprehensive portfolio of high quality, leadership brands that include AmnioExcel®, Bactiseal®, CerebroFlo®, Certas® Plus, Codman®, CUSA®, DuraGen®, DuraSeal®, ICP Express®, Integra®, MatriStem UBMTM, MediHoney®, MicroFrance®, PriMatrix®, SurgiMend®, TCC-EZ®, and VersaTru®.

Company profile

Ticker
IART
Exchange
CEO
Peter Arduini
Employees
Incorporated
Location
Fiscal year end
Former names
INTEGRA LIFESCIENCES CORP
SEC CIK
Subsidiaries
ACell, Inc. • Arkis Biosciences Inc. • Ascension Orthopedics Limited • BIMECO, Inc. • BioD, LLC • BioDlogics, LLC • BioRecovery, LLC • CardioDyne, Inc. • Cathtec Incorporated • Caveangle Limited ...
IRS number
510317849

IART stock data

Analyst ratings and price targets

Last 3 months

Calendar

27 Jul 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 Aug 22 Evoli Lisa Common Stock Sell Dispose S No No 55.8108 1,165 65.02K 17,997
5 Aug 22 Murphy Raymond G. Common Stock Sell Dispose S No No 55.7833 8,000 446.27K 40,825
3 Aug 22 Evoli Lisa Common Stock Payment of exercise Dispose F No No 55.34 293 16.21K 19,162
2 Aug 22 Mosebrook Jeffrey Common Stock Sell Dispose S No No 56.775 437 24.81K 8,831
1 Aug 22 Evoli Lisa Common Stock Payment of exercise Dispose F No No 56.87 456 25.93K 19,455
13F holders Current Prev Q Change
Total holders 271 274 -1.1%
Opened positions 26 45 -42.2%
Closed positions 29 30 -3.3%
Increased positions 110 96 +14.6%
Reduced positions 90 88 +2.3%
13F shares Current Prev Q Change
Total value 5.47B 5.91B -7.4%
Total shares 94.7M 98.11M -3.5%
Total puts 0 49.7K EXIT
Total calls 136.6K 17.6K +676.1%
Total put/call ratio 2.8
Largest owners Shares Value Change
Richard E Caruso 11.98M $540.41M 0.0%
Tru St Partnership 8.74M $0 0.0%
Wellington Management 7.4M $475.72M -23.8%
Capital Research Global Investors 6.82M $438.14M -17.0%
BLK Blackrock 6.75M $433.6M -0.2%
Vanguard 6.55M $421.17M -1.6%
Champlain Investment Partners 5.59M $358.94M -1.9%
Eaton Vance Management 4.22M $270.93M +2.6%
JHG Janus Henderson 3.28M $210.96M -12.4%
Clearbridge Advisors 2.55M $164.02M +0.2%
Largest transactions Shares Bought/sold Change
Wellington Management 7.4M -2.32M -23.8%
Capital Research Global Investors 6.82M -1.4M -17.0%
Norges Bank 0 -676.25K EXIT
JHG Janus Henderson 3.28M -465.39K -12.4%
Two Sigma Investments 282.44K +282.44K NEW
RY Royal Bank Of Canada 437.49K -276.77K -38.7%
Hood River Capital Management 0 -258.98K EXIT
Millennium Management 323.5K +230.76K +248.8%
D. E. Shaw & Co. 261.48K +227.94K +679.5%
Leeward Investments, LLC - MA 225.31K +225.31K NEW

Financial report summary

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Risks
  • The effects of the COVID-19 pandemic continue to significantly impact global economic conditions and have affected, and may continue to affect, our operations, supply chain, distribution, sales force, as well as the financial stability of hospitals and other customers, and have caused and could again cause a reduction in procedures, which could materially adversely affect our business, results of operations, financial condition, and stock price.
  • Our operating results may fluctuate.
  • The industry and market segments in which we operate are highly competitive, and we may be unable to compete effectively with other companies.
  • Changes in the healthcare industry may require us to decrease the selling price for our products, may reduce the size of the market for our products, or may eliminate a market, any of which could have a negative impact on our financial performance.
  • Our current strategy involves growth through acquisitions, which requires us to incur substantial costs and potential liabilities for which we may never realize the anticipated benefits, and also requires us to successfully integrate acquired businesses into our business operations in order to avoid our business being materially and adversely affected.
  • Our future financial results could be adversely affected by impairments or other charges.
  • Lack of market acceptance for our products or market preference for technologies that compete with our products could reduce our revenues and profitability.
  • It could be difficult to replace some of our suppliers.
  • We may experience difficulties, delays, performance impact or unexpected costs from consolidation of facilities and transfer of manufacturing facilities.
  • We may have significant product liability exposure and our insurance may not cover all potential claims.
  • Economic and political instability around the world could adversely affect the ability of hospitals, other customers, suppliers and distributors to access funds or otherwise have available liquidity, which could reduce orders for our products or interrupt our production or distribution or result in a reduction in elective and non-reimbursed operative procedures.
  • Our private-label product lines depend significantly on key relationships with third parties, which we could be unable to establish and maintain.
  • The adoption of healthcare reform in the U.S. and initiatives sponsored by other governments may adversely affect our business, results of operations and/or financial condition.
  • We are subject to stringent domestic and foreign medical device regulations and oversight and any adverse action may adversely affect our ability to compete in the marketplace and our financial condition and business operations.
  • Certain of our products contain materials derived from animal sources and may become subject to additional regulation.
  • We are subject to current and potential future requirements relating to protection of the environment, such as hazardous materials regulations, which may impose significant compliance or other costs on us.
  • Our business and operations are subject to risks related to climate change.
  • We are subject to requirements relating to information technology which could adversely affect our business.
  • We may have additional tax liabilities.
  • Changes in tax laws or exposures to additional tax liabilities could negatively impact the Company's operating results.
  • Changes in the calculation and or complete replacement of LIBOR could have an impact on our business.
  • Our intellectual property rights may not provide meaningful commercial protection for our products, potentially enabling third parties to use our technology or very similar technology and could reduce our ability to compete in the market.
  • Our competitive position depends, in part, upon unpatented trade secrets, which we may be unable to protect.
  • Our success will depend partly on our ability to operate without infringing or misappropriating the proprietary rights of others.
  • We may be involved in lawsuits relating to our intellectual property rights and promotional practices, which may be expensive.
  • If any of our facilities or those of our suppliers were damaged and/or our manufacturing or business processes interrupted, we could experience lost revenues and our business could be seriously harmed.
  • We are exposed to a variety of risks relating to our international sales and operations.
  • Cyber-attacks or other disruptions to our information technology systems could adversely affect our business.
Management Discussion
  • Net income for the three months ended June 30, 2022 was $44.8 million, or $0.54 per diluted share, as compared to $35.1 million or $0.41 per diluted share for the three months ended June 30, 2021. The increase in net income for the three months ended June 30, 2022, was primarily driven by higher revenues across most franchises.
  • Net income for the six months ended June 30, 2022 was $77.7 million, or $0.93 per diluted share, as compared to $80.5 million or $0.94 per diluted share for the six months ended June 30, 2021. The decrease in net income for the six months ended June 30, 2022, was primarily driven by the increase in non-operating income in the prior period due to the gain of $42.2 million recognized as result of the sale of the Extremity Orthopedics business. Excluding the impact of the gain, net income increased for the six months ended June 30, 2022, driven by higher revenues across most franchises.
  • (1) The Company completed its sale of its Extremity Orthopedics business and recognized a gain of $42.2 million for the six months ended June 30, 2021 which was partially offset by other acquisition, divestiture and integration-related charges. See Note 3, Acquisitions and Divestitures for details.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: accrual, alginate, Bactiseal, blood, calcium, capture, cerebrospinal, closer, Coagulation, COVID, departure, disposal, drain, EU, evacuate, Evacuator, exclusive, foam, gauze, Gentell, Haoju, hydrogel, intercranial, macroeconomic, MDR, met, outsource, outsourcing, safely, Shanghai, stroke, SurgiMend, traditional, TWC
Removed: adaptability, curtail, economy, entitle, execution, face, flexibility, generation, jurisdictional, participating, preliminary, procedure, rationalizing, resiliency, seeking, skin, stockholder, strong, talented, terminated, volume

Patents

Utility
Head Wearable Devices and Methods
9 Jun 22
A headlight device includes a headband for encircling a head of a wearer, a padding system having a pad attached to at least a portion of the headband, the pad including a first layer and a second layer.
Utility
Head Wearable Devices and Methods
21 Apr 22
A head wearable device includes a headband, a housing attached to the headband, a luminaire, a duct system connecting the luminaire to the housing, a ball joint movably connecting the duct system to the luminaire, and an air moving device, which is adjacent to an exhaust of the housing and is configured to induce an air flow through an inlet in the luminaire through the ball joint, through the duct system, and out of the exhaust of the housing attached to the headband.
Design
Battery charger
22 Mar 22
Inventors: Doug Birkholz, Clay Mehnert, Brian Neeley
Utility
Head wearable devices and methods
8 Mar 22
A head wearable device includes a headpiece, a housing attached to the headpiece, a luminaire attached to the headpiece, the luminaire including a luminaire housing and at least one light source located within the luminaire housing, a duct system connecting the luminaire to the housing, a ball joint rotatably connecting the duct system to the luminaire, and an air moving device configured to induce a cooling air flow through an inlet in the luminaire housing, through the heatsink, through the ball joint, through the duct system, and out of an exhaust in the housing attached to of the headpiece.
Utility
Devices and Methods for Nerve Regeneration
24 Feb 22
The present invention is directed to a nerve regeneration conduit including a resorbable tube having a matrix therein.