Cryolife (NYSE:CRY) Receives “Buy” Rating from Canaccord Genuity

Canaccord Genuity reiterated their buy rating on shares of Cryolife (NYSE:CRY) in a research report report published on Wednesday, January 3rd. Canaccord Genuity currently has a $25.00 price target on the medical equipment provider’s stock.

“We are updating our model and now include 2019 estimates. We reiterate our BUY rating and $25 price target.”,” the firm’s analyst wrote.

A number of other research analysts have also commented on CRY. Northland Securities restated a buy rating and set a $23.50 price target on shares of Cryolife in a research report on Monday, November 13th. Zacks Investment Research cut shares of Cryolife from a hold rating to a sell rating in a research report on Tuesday, October 17th. TheStreet cut shares of Cryolife from a b rating to a c+ rating in a research report on Monday, October 30th. Finally, Lake Street Capital upped their price objective on shares of Cryolife to $26.00 and gave the stock a buy rating in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $23.63.

Shares of Cryolife (NYSE:CRY) traded down $0.45 during midday trading on Wednesday, reaching $18.80. 120,400 shares of the company traded hands, compared to its average volume of 100,000. Cryolife has a twelve month low of $14.02 and a twelve month high of $24.00. 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 $679.44, a PE ratio of 67.14 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. Cryolife had a net margin of 5.28% and a return on equity of 6.43%. The company had revenue of $44.00 million for the quarter, compared to analysts’ expectations of $44.60 million. During the same quarter in the previous year, the firm posted $0.13 EPS. Cryolife’s revenue was down 2.9% on a year-over-year basis. equities analysts predict that Cryolife will post 0.28 EPS for the current fiscal year.

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

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Cryolife by 21.0% in the 3rd quarter. Principal Financial Group Inc. now owns 258,323 shares of the medical equipment provider’s stock worth $5,864,000 after buying an additional 44,777 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Cryolife by 51.6% in the 3rd quarter. Prudential Financial Inc. now owns 133,863 shares of the medical equipment provider’s stock worth $3,039,000 after buying an additional 45,580 shares during the last quarter. Hartford Investment Management Co. purchased a new position in shares of Cryolife in the 3rd quarter worth approximately $276,000. KBC Group NV grew its position in shares of Cryolife by 63.0% in the 3rd quarter. KBC Group NV now owns 13,447 shares of the medical equipment provider’s stock worth $305,000 after buying an additional 5,197 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Cryolife by 9.3% during the 3rd quarter. Rhumbline Advisers now owns 62,599 shares of the medical equipment provider’s stock worth $1,421,000 after purchasing an additional 5,308 shares during the last quarter. Institutional investors and hedge funds 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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