Mackay Shields LLC Makes New Investment in Cryolife Inc (NYSE:CRY)

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Mackay Shields LLC acquired a new position in Cryolife Inc (NYSE:CRY) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,300 shares of the medical equipment provider’s stock, valued at approximately $279,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brasada Capital Management LP lifted its holdings in Cryolife by 11.9% in the second quarter. Brasada Capital Management LP now owns 52,300 shares of the medical equipment provider’s stock worth $1,586,000 after buying an additional 5,550 shares during the period. Texas Permanent School Fund lifted its holdings in Cryolife by 9.5% in the third quarter. Texas Permanent School Fund now owns 25,521 shares of the medical equipment provider’s stock worth $693,000 after buying an additional 2,209 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in Cryolife by 66.4% in the second quarter. UBS Asset Management Americas Inc. now owns 21,779 shares of the medical equipment provider’s stock worth $652,000 after buying an additional 8,687 shares during the period. Envestnet Asset Management Inc. purchased a new stake in Cryolife in the second quarter worth about $777,000. Finally, Rhumbline Advisers lifted its holdings in Cryolife by 6.9% in the third quarter. Rhumbline Advisers now owns 110,273 shares of the medical equipment provider’s stock worth $2,994,000 after buying an additional 7,152 shares during the period. Institutional investors and hedge funds own 70.91% of the company’s stock.

In other Cryolife news, CEO James P. Mackin bought 5,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average cost of $23.47 per share, for a total transaction of $117,350.00. Following the completion of the acquisition, the chief executive officer now owns 225,731 shares of the company’s stock, valued at $5,297,906.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.40% of the stock is currently owned by company insiders.

Several analysts have commented on the stock. Canaccord Genuity set a $35.00 price objective on shares of Cryolife and gave the stock a “buy” rating in a report on Wednesday, July 31st. ValuEngine lowered shares of Cryolife from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 1st. Zacks Investment Research lowered shares of Cryolife from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Oppenheimer assumed coverage on shares of Cryolife in a report on Tuesday, October 22nd. They set an “outperform” rating and a $34.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $31.53.

CRY stock opened at $24.64 on Tuesday. The firm has a 50 day moving average price of $24.00 and a 200-day moving average price of $27.68. Cryolife Inc has a 52-week low of $20.76 and a 52-week high of $33.00. The firm has a market capitalization of $941.72 million, a price-to-earnings ratio of 94.77, a PEG ratio of 44.84 and a beta of 0.61. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.82 and a current ratio of 5.03.

Cryolife (NYSE:CRY) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Cryolife had a net margin of 0.24% and a return on equity of 3.50%. The firm had revenue of $67.90 million during the quarter, compared to analyst estimates of $68.28 million. During the same period last year, the business earned $0.08 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that Cryolife Inc will post 0.28 earnings per share for the current fiscal year.

About Cryolife

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.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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Institutional Ownership by Quarter for Cryolife (NYSE:CRY)

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