Cryolife (CRY) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Cryolife (NYSE:CRY) from a sell rating to a hold rating in a research report released on Tuesday morning.

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. “

CRY has been the topic of a number of other reports. Lake Street Capital boosted their price target on Cryolife to $26.00 and gave the stock a buy rating in a research report on Wednesday, October 11th. Canaccord Genuity reissued a buy rating and issued a $25.00 price target on shares of Cryolife in a research report on Wednesday, January 3rd. Northland Securities reissued a buy rating and issued a $23.50 price target on shares of Cryolife in a research report on Monday, November 13th. Finally, TheStreet cut Cryolife from a b rating to a c+ rating in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $23.63.

Cryolife (NYSE:CRY) traded down $0.45 during trading on Tuesday, reaching $18.20. The company’s stock had a trading volume of 120,800 shares, compared to its average volume of 106,570. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.90 and a current ratio of 5.96. The company has a market cap of $623.98, a PE ratio of 65.00 and a beta of 0.82. Cryolife has a fifty-two week low of $14.02 and a fifty-two week high of $24.00.

Cryolife (NYSE:CRY) last posted its quarterly earnings data on Monday, October 30th. The medical equipment provider reported $0.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. The business had revenue of $44.00 million for the quarter, compared to analysts’ expectations of $44.60 million. Cryolife had a return on equity of 6.43% and a net margin of 5.28%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 EPS. equities analysts forecast that Cryolife will post 0.28 EPS for the current year.

In related news, VP David C. Gale sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $19.63, for a total value of $392,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amy Horton sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $19.00, for a total transaction of $76,000.00. Following the completion of the transaction, the chief accounting officer now owns 98,705 shares of the company’s stock, valued at $1,875,395. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,190 shares of company stock worth $1,138,240. Insiders own 6.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its stake in Cryolife by 30.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 149,791 shares of the medical equipment provider’s stock valued at $2,989,000 after buying an additional 35,247 shares during the last quarter. Rhumbline Advisers raised its stake in Cryolife by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 57,291 shares of the medical equipment provider’s stock valued at $1,143,000 after buying an additional 387 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Cryolife by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 353,029 shares of the medical equipment provider’s stock valued at $7,042,000 after buying an additional 10,682 shares during the last quarter. Legal & General Group Plc raised its stake in Cryolife by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 50,224 shares of the medical equipment provider’s stock valued at $1,002,000 after buying an additional 4,049 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Cryolife by 67.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,593 shares of the medical equipment provider’s stock valued at $171,000 after buying an additional 3,451 shares during the last quarter. Institutional investors own 73.28% of the company’s stock.

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Cryolife Company Profile

CryoLife, Inc (CryoLife) is a medical device manufacturer and processor, and is engaged in the distribution of medical devices and implantable human tissues used in cardiac surgical procedures. The Company operates through two segments: Medical Devices and Preservation Services. The Medical Devices segment includes medical devices, such as BioGlue Surgical Adhesive, BioFoam Surgical Matrix, On-X Life Technologies Holdings, Inc valves and surgical products, CardioGenesis cardiac laser therapy product line, PerClot and PhotoFix.

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