Eric Schwartz, Executive Vice President and Chief Legal Officer at Integra LifeSciences Holdings Corp (NASDAQ:IART), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Schwartz sold 4,070 shares of common stock on December 3, 2024, at an average price of $24.595 per share. This transaction resulted in a total sale value of $100,101. Following this transaction, Schwartz holds 59,511 shares directly. The sale comes as the stock has shown strong returns over the last three months, though it remains down about 43% year-to-date, according to InvestingPro data.
Integra LifeSciences, headquartered in Princeton, New Jersey, specializes in surgical and medical instruments and apparatus. The sale reflects Schwartz's ongoing management of his personal portfolio within the company. While the company maintains a solid gross profit margin of nearly 60%, InvestingPro analysis indicates the stock is currently undervalued, with analysts setting price targets ranging from $20 to $40 per share. For deeper insights into IART's valuation and access to additional ProTips, investors can explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Integra LifeSciences reported a decrease in third-quarter 2024 revenue and adjusted earnings per share (EPS). The company's revenues were $381 million, marking an 8.6% organic decline year-over-year, while the adjusted EPS was $0.41, a 46% drop from the previous year. These outcomes were mainly due to supply chain challenges and production issues. Despite these difficulties, Integra is implementing a master compliance plan to enhance quality management systems and expects to resolve many shipping holds by the fourth quarter of 2024. Additionally, the company adjusted its full-year revenue guidance to a range of $1.609 billion to $1.619 billion, with an adjusted EPS guidance set at $2.41 to $2.49. In leadership changes, Mojdeh Poul has been appointed as the new CEO, effective January 2025, succeeding Jan De Witte. These are some of the recent developments within the company.
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