Artivion (NYSE:AORT) Given New $48.00 Price Target at Canaccord Genuity Group

Artivion (NYSE:AORT) had its price objective dropped by analysts at Canaccord Genuity Group from $51.00 to $48.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 35.86% from the stock’s previous close.

Several other brokerages also recently commented on AORT. Needham & Company LLC reaffirmed a “buy” rating and issued a $58.00 target price on shares of Artivion in a research note on Monday, February 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Artivion in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of Artivion from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 24th. Citizens Jmp raised their target price on Artivion from $47.00 to $53.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $50.00 price target on shares of Artivion in a research report on Friday, November 7th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.69.

Artivion Trading Down 13.1%

Shares of Artivion stock traded down $5.32 during trading on Friday, reaching $35.33. The company’s stock had a trading volume of 836,576 shares, compared to its average volume of 344,152. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -147.94 and a beta of 1.59. The firm’s 50-day moving average is $43.76 and its two-hundred day moving average is $42.75. Artivion has a 52-week low of $21.97 and a 52-week high of $48.25. The company has a quick ratio of 2.88, a current ratio of 3.93 and a debt-to-equity ratio of 0.50.

Artivion (NYSE:AORT) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. Artivion had a negative net margin of 2.16% and a positive return on equity of 5.98%. The business had revenue of $118.30 million during the quarter, compared to analyst estimates of $116.42 million. Artivion’s revenue was up 19.2% on a year-over-year basis. On average, sell-side analysts anticipate that Artivion will post 0.37 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO James P. Mackin sold 30,921 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $45.56, for a total value of $1,408,760.76. Following the transaction, the chief executive officer owned 800,993 shares in the company, valued at $36,493,241.08. The trade was a 3.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John E. Davis sold 6,394 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $45.17, for a total transaction of $288,816.98. Following the sale, the insider owned 198,842 shares in the company, valued at approximately $8,981,693.14. The trade was a 3.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 128,448 shares of company stock worth $5,793,361 over the last 90 days. Corporate insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Artivion

Institutional investors and hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC bought a new stake in Artivion during the second quarter valued at about $664,000. Kennedy Capital Management LLC boosted its position in shares of Artivion by 20.8% during the 2nd quarter. Kennedy Capital Management LLC now owns 367,762 shares of the company’s stock valued at $11,437,000 after acquiring an additional 63,205 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Artivion in the 2nd quarter worth $669,000. Atria Investments Inc purchased a new position in Artivion in the second quarter worth about $244,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of Artivion during the 2nd quarter valued at approximately $3,750,000. 86.37% of the stock is currently owned by hedge funds and other institutional investors.

Artivion Company Profile

Artivion, Inc (NYSE: AORT) is a global medical technology company that develops, manufactures and markets implantable tissue products and surgical devices for cardiac and vascular surgery. The company’s portfolio includes biologic implants derived from human and animal tissue, such as allografts and xenografts, as well as synthetic scaffolds and surgical adhesives. These products are designed to repair, reinforce or replace damaged cardiovascular and thoracic tissues during procedures such as aortic repair, heart valve surgery and vascular reconstruction.

Originally founded in 1984 under the name CryoLife, the company rebranded as Artivion in early 2022 to reflect its broader mission in cardiovascular innovation.