- Integra LifeSciences is in the late stages of a transition period, rounded off by the recent divestiture of the orthopaedics segment, to be closed next year.
- The company has had a strong sequential quarter, which may carry through to Q4 should the pandemic begin to settle over a resurgence.
- Operating efficiencies may be realised on the back of the divestiture, particularly to inventory turnover, working capital management, and inventory to cash days.
- We are bullish on the long-term outlook of the company and see further upside potential based on the analysis from shares trading at ~43% discount to peers.
- Here we cover all of the moving parts in the investment debate for investors' own reasoning.
For further details see:
Integra LifeSciences: Valuation Disconnect, Sell-Side Missing Impact Of Operating Efficiencies