CryoLife Inc. (NYSE:CRY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $19.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 11.76% from the stock’s previous close.
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) “
A number of other equities research analysts have also commented on CRY. Canaccord Genuity reiterated a “buy” rating on shares of CryoLife in a research report on Monday, June 20th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $16.00 target price on shares of CryoLife in a research report on Wednesday, July 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $15.20.
Shares of CryoLife (NYSE:CRY) opened at 17.00 on Monday. The stock’s 50 day moving average is $17.28 and its 200 day moving average is $13.78. CryoLife has a 52-week low of $8.94 and a 52-week high of $18.64. The company has a market cap of $579.87 million, a PE ratio of 54.49 and a beta of 1.04.
CryoLife (NYSE:CRY) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.11. CryoLife had a net margin of 5.80% and a return on equity of 8.15%. The firm had revenue of $47.10 million for the quarter, compared to the consensus estimate of $35.50 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. Equities analysts forecast that CryoLife will post $0.34 EPS for the current year.
In other news, Director C Elkins Ronald sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $14.00, for a total transaction of $28,000.00. Following the sale, the director now owns 103,586 shares of the company’s stock, valued at approximately $1,450,204. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.08% of the company’s stock.
Several large investors have recently modified their holdings of CRY. Prudential Financial Inc. raised its stake in shares of CryoLife by 11.8% in the first quarter. Prudential Financial Inc. now owns 65,404 shares of the company’s stock valued at $703,000 after buying an additional 6,881 shares during the period. BlackRock Fund Advisors raised its position in CryoLife by 1.1% in the first quarter. BlackRock Fund Advisors now owns 1,642,615 shares of the company’s stock valued at $17,658,000 after buying an additional 18,349 shares during the period. Royce & Associates LP raised its position in CryoLife by 10.6% in the first quarter. Royce & Associates LP now owns 731,200 shares of the company’s stock valued at $7,860,000 after buying an additional 70,000 shares during the period. Spark Investment Management LLC raised its position in CryoLife by 217.6% in the first quarter. Spark Investment Management LLC now owns 39,700 shares of the company’s stock valued at $426,000 after buying an additional 27,200 shares during the period. Finally, Adirondack Research & Management Inc. raised its position in CryoLife by 1.5% in the first quarter. Adirondack Research & Management Inc. now owns 277,123 shares of the company’s stock valued at $2,979,000 after buying an additional 4,200 shares during the period. 58.11% of the stock is currently owned by institutional investors and hedge funds.
CryoLife Company Profile
CryoLife, Inc (CryoLife) is engaged in medical device manufacturing and distribution, and in the processing and distribution of implantable human tissues for cardiac and vascular surgeries. The Company operates in two segments: Medical Devices and Preservation Services. The Medical Devices segment sells BioGlue, BioFoam, PerClot, CardioGenesis cardiac laser therapy, Hemodialysis Reliable Outflow (HeRO) Graft, and ProCol Vascular Bioprosthesis (ProCol).
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