Zacks Investment Research upgraded shares of Cryolife (NYSE:CRY) from a sell rating to a hold rating in a research report report published 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. “
A number of other research analysts have also recently issued reports on the company. Canaccord Genuity reiterated a buy rating and issued a $25.00 target price on shares of Cryolife in a research report on Wednesday, January 3rd. Northland Securities restated a buy rating and set a $23.50 price target on shares of Cryolife in a report on Monday, November 13th. TheStreet cut Cryolife from a b rating to a c+ rating in a report on Monday, October 30th. Finally, Lake Street Capital boosted their price target on Cryolife to $26.00 and gave the stock a buy rating in a report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Cryolife presently has a consensus rating of Buy and an average price target of $23.63.
Cryolife (NYSE:CRY) last released its 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 for the quarter, compared to analysts’ expectations of $44.60 million. During the same quarter in the previous year, the business posted $0.13 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. research analysts forecast that Cryolife will post 0.28 earnings per share for the current year.
In other news, VP David C. Gale sold 20,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $19.63, for a total transaction of $392,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amy Horton sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $19.00, for a total value of $76,000.00. Following the sale, the chief accounting officer now owns 98,705 shares in the company, valued at $1,875,395. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,190 shares of company stock worth $1,138,240. Company insiders own 6.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of Cryolife by 21.0% during the third quarter. Principal Financial Group Inc. now owns 258,323 shares of the medical equipment provider’s stock worth $5,864,000 after purchasing an additional 44,777 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Cryolife by 51.6% in the third quarter. Prudential Financial Inc. now owns 133,863 shares of the medical equipment provider’s stock worth $3,039,000 after acquiring an additional 45,580 shares during the period. Hartford Investment Management Co. acquired a new position in shares of Cryolife in the third quarter worth approximately $276,000. Rhumbline Advisers lifted its stake in shares of Cryolife by 9.3% in the third quarter. Rhumbline Advisers now owns 62,599 shares of the medical equipment provider’s stock worth $1,421,000 after acquiring an additional 5,308 shares during the period. Finally, KBC Group NV lifted its stake in shares of Cryolife by 63.0% in the third quarter. KBC Group NV now owns 13,447 shares of the medical equipment provider’s stock worth $305,000 after acquiring an additional 5,197 shares during the period. Institutional investors own 73.28% of the company’s stock.
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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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