UPDATE: Disclosure Insight Downgrades Integra Lifesciences to Medium Risk - Negative Bias
Disclosure Insight lowered its rating on Integra LifeSciences (NASDAQ: IART) to Medium Risk - Negative Bias from Medium Risk - Positive Bias to reflect recent guidance cuts.
Disclosure Insight comments, "Insider ownership; related party transactions; multiple guidance cuts; acquisition activity, and a pending CEO change support our opinion of a Medium Risk - Negative Bias rating on IART. As of 28-Feb-11, Chairman Richard Caruso and CEO Stuart Essig held 23.4% and 6.6% of the company's stock, respectively. ... In Jul-11, IART lowered its 2011 GAAP EPS guidance from $1.97 - $2.12 to $1.40 - $1.50. It was further cut to $1.22 - $1.30 in Oct-11."
IART closed at $31.44 per share on Thursday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.