CryoLife, Inc. (NYSE:CRY) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of CryoLife, Inc. (NYSE:CRY) from a hold rating to a sell rating in a report released on Tuesday, October 17th.

According to Zacks, “CryoLife, Inc. is the leader in the development and commercialization of implantable living human tissues for use in cardiovascular, vascular, and orthopaedic surgeries throughout the United States and Canada. The company’s BioGlue surgical adhesive, the company marked in the European Union for use in vascular and pulmonary sealing and repair, is distributed throughout Europe. The company also manufactures CryoLife- O’Brien and CryoLife-Ross stentless porcine heart valves which are distributed within the European Community. (PRESS RELEASE) “

Other equities research analysts also recently issued research reports about the company. Lake Street Capital boosted their price target on CryoLife to $26.00 and gave the company a buy rating in a research report on Wednesday, October 11th. Canaccord Genuity restated a buy rating and set a $25.00 price objective on shares of CryoLife in a research note on Monday, October 9th. Finally, BidaskClub cut CryoLife from a buy rating to a hold rating in a research note on Monday, July 24th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. CryoLife presently has a consensus rating of Hold and an average target price of $23.63.

Shares of CryoLife (NYSE:CRY) traded up $0.15 during trading on Tuesday, reaching $19.20. 119,466 shares of the company’s stock traded hands, compared to its average volume of 199,826. CryoLife has a twelve month low of $14.02 and a twelve month high of $24.00. The company has a quick ratio of 4.90, a current ratio of 5.96 and a debt-to-equity ratio of 0.29. The firm has a market cap of $645.73, a PE ratio of 46.46 and a beta of 0.82.

CryoLife (NYSE:CRY) last posted its quarterly earnings results on Monday, October 30th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.08. CryoLife had a return on equity of 6.43% and a net margin of 5.28%. The firm had revenue of $44.00 million during the quarter, compared to the consensus estimate of $44.60 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. equities analysts forecast that CryoLife will post 0.42 EPS for the current year.

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In related news, CEO James P. Mackin sold 43,050 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $22.09, for a total value of $950,974.50. Following the transaction, the chief executive officer now owns 398,399 shares in the company, valued at $8,800,633.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James Benson sold 2,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $22.80, for a total value of $45,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 171,050 shares of company stock worth $3,769,825. 6.00% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in shares of CryoLife by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,960,221 shares of the medical equipment provider’s stock worth $39,107,000 after acquiring an additional 110,973 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of CryoLife by 6.6% in the second quarter. Vanguard Group Inc. now owns 1,658,646 shares of the medical equipment provider’s stock worth $33,090,000 after acquiring an additional 102,540 shares in the last quarter. Macquarie Group Ltd. lifted its stake in shares of CryoLife by 18.6% in the second quarter. Macquarie Group Ltd. now owns 1,387,710 shares of the medical equipment provider’s stock worth $27,685,000 after acquiring an additional 217,283 shares in the last quarter. Northern Trust Corp lifted its stake in shares of CryoLife by 7.4% in the second quarter. Northern Trust Corp now owns 1,171,769 shares of the medical equipment provider’s stock worth $23,377,000 after acquiring an additional 81,090 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of CryoLife by 5.2% in the second quarter. State Street Corp now owns 758,840 shares of the medical equipment provider’s stock worth $15,143,000 after acquiring an additional 37,279 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

About CryoLife

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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