Zacks Investment Research upgraded shares of Cryolife (NYSE:CRY) from a hold rating to a buy rating in a research note released on Wednesday, May 30th. They currently have $30.00 price target on the medical equipment provider’s stock.
According to Zacks, “CryoLife, Inc. is a leader in medical device manufacturing and distribution and in the processing and distribution of implantable living human tissues for use in cardiac and vascular surgeries. It operates throughout the U.S. and internationally. CryoLife manufactures and distributes BioGlue Surgical Adhesive, an FDA-approved adjunct to sutures and staples for use in adult patients in open surgical repair of large vessels. BioGlue is also CE marked in Europe for use in soft tissue repair and has received additional marketing approvals in several other countries throughout the world. CryoLife’s BioFoam Surgical Matrix is CE marked in Europe for use as an adjunct to hemostasis in cardiovascular surgery and on abdominal parenchymal tissues (liver and spleen) when control of bleeding by ligature or conventional methods is ineffective or impractical. CryoLife distributes PerClot, a powdered hemostat, in Europe and other select international countries. “
Other equities analysts have also recently issued research reports about the company. Canaccord Genuity reaffirmed a buy rating and set a $28.00 target price (up previously from $25.00) on shares of Cryolife in a research note on Friday, March 9th. Northland Securities reissued a buy rating and issued a $23.50 price target on shares of Cryolife in a research note on Thursday, March 8th. Finally, ValuEngine cut Cryolife from a hold rating to a sell rating in a research note on Wednesday, March 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Cryolife currently has an average rating of Buy and an average price target of $26.88.
Cryolife (NYSE:CRY) last issued its quarterly earnings results on Wednesday, May 2nd. The medical equipment provider reported $0.02 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.02. The firm had revenue of $61.95 million for the quarter, compared to analysts’ expectations of $60.30 million. Cryolife had a positive return on equity of 4.55% and a negative net margin of 1.15%. Cryolife’s revenue was up 37.5% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. equities analysts predict that Cryolife will post 0.29 EPS for the current fiscal year.
In related news, CAO Amy Horton sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $25.94, for a total value of $103,760.00. Following the completion of the sale, the chief accounting officer now directly owns 98,959 shares in the company, valued at approximately $2,566,996.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John E. Davis sold 3,333 shares of the business’s stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $23.00, for a total value of $76,659.00. Following the completion of the sale, the vice president now owns 54,771 shares of the company’s stock, valued at $1,259,733. The disclosure for this sale can be found here. In the last three months, insiders sold 51,191 shares of company stock valued at $1,332,075. 3.97% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of CRY. Macquarie Group Ltd. lifted its holdings in shares of Cryolife by 17.4% during the fourth quarter. Macquarie Group Ltd. now owns 1,888,879 shares of the medical equipment provider’s stock worth $36,172,000 after buying an additional 279,595 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Cryolife by 4.9% during the fourth quarter. BlackRock Inc. now owns 4,344,104 shares of the medical equipment provider’s stock worth $83,188,000 after buying an additional 204,843 shares during the last quarter. Kennedy Capital Management Inc. acquired a new position in shares of Cryolife during the fourth quarter worth approximately $2,889,000. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Cryolife by 23.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 775,314 shares of the medical equipment provider’s stock worth $14,847,000 after buying an additional 148,354 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Cryolife by 82.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 110,825 shares of the medical equipment provider’s stock worth $2,123,000 after buying an additional 49,929 shares during the last quarter. Institutional investors own 67.56% of the company’s stock.
CryoLife, Inc, together with its subsidiaries, manufactures, processes, and distributes medical devices and implantable human tissues for use in cardiac and vascular surgeries worldwide. The company operates in two segments, Medical Devices and Preservation Services. It offers BioGlue, an agent for cross-linking proteins for cardiac, vascular, pulmonary, and general surgical applications; On-X mechanical heart valves for aortic and mitral indications; cardiac preservation services; PhotoFix, a bovine pericardial patch for use in cardiac and vascular repairing activities; and PerClot, an absorbable powdered hemostat for use in surgical procedures, including cardiac, vascular, orthopedic, neurological, gynecological, ENT, and trauma surgeries.
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