Zacks Investment Research Lowers Cryolife (CRY) to Sell

Zacks Investment Research cut shares of Cryolife (NYSE:CRY) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

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 firms have also weighed in on CRY. Canaccord Genuity reissued a buy rating and set a $28.00 target price (up from $25.00) on shares of Cryolife in a report on Friday, March 9th. Northland Securities reissued a buy rating and set a $23.50 target price on shares of Cryolife in a report on Thursday, March 8th. Finally, ValuEngine lowered shares of Cryolife from a hold rating to a sell rating in a report on Wednesday, March 7th. Three research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $25.83.

Shares of Cryolife (NYSE CRY) opened at $20.80 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.90 and a current ratio of 4.18. The stock has a market cap of $751.72, a PE ratio of 208.00 and a beta of 0.75. Cryolife has a 12 month low of $14.02 and a 12 month high of $24.00.

Cryolife (NYSE:CRY) last issued its quarterly earnings data on Wednesday, March 7th. The medical equipment provider reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $52.80 million during the quarter, compared to analysts’ expectations of $48.40 million. Cryolife had a net margin of 1.95% and a return on equity of 5.92%. The business’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 EPS. research analysts forecast that Cryolife will post 0.29 earnings per share for the current year.

In other Cryolife news, Director C Elkins Ronald sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $22.00, for a total transaction of $44,000.00. Following the sale, the director now directly owns 97,849 shares of the company’s stock, valued at approximately $2,152,678. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Teacher Retirement System of Texas bought a new stake in Cryolife during the 4th quarter worth approximately $197,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Cryolife in the 4th quarter worth approximately $203,000. Crossmark Global Holdings Inc. acquired a new position in shares of Cryolife in the 3rd quarter worth approximately $259,000. Hartford Investment Management Co. acquired a new position in shares of Cryolife in the 3rd quarter worth approximately $276,000. Finally, Stifel Financial Corp acquired a new position in shares of Cryolife in the 3rd quarter worth approximately $275,000. 73.99% of the stock is currently owned by hedge funds and other institutional investors.

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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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