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Argus believes Integra Lifesciences Holdings Corp. (NASDAQ: IART) stands to gain from the successful launch of its Omnigraft tissue closure product. Aside from this, the company's top line and bottom line would be driven by solid execution of sales besides accretive acquisitions.
Analysts David Toung and Katelyn Bayone pointed out the company's upward revision in adjusted EPS from $3.38-$3.50 to $3.43-$3.53 for the year 2016. Revenue forecast has also been boosted from $0.985-$1.0 billion to $0.992-$1.002 billion for the same period.
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Street analysts, who predicted $3.44 a share 90 days ago, are now expecting $3.48 a share on revenue of $999.36 million. The company has the history of delivering positive EPS surprise in the last four quarters.
As a result, the brokerage reaffirmed its rating of Buy and lifted the price objective from $90 to $105 implying about the possibility of 20 percent upside rewards.
In a note, the analyst viewed, "We view Integra's tissue regeneration products and instruments for neurosurgery as solid growth drivers, and also expect acquisitions to benefit earnings. Our positive view of Integra has been rewarded over the last several years, as IART shares have risen 188% since our upgrade to BUY on June 18, 2012."
The brokerage thinks Integra shares deserve a premium citing stable fresh products flow and expanding margins resulting in strong sales growth.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.