Connors Investor Services Inc. Trims Stock Position in Artivion, Inc. $AORT

Connors Investor Services Inc. trimmed its holdings in shares of Artivion, Inc. (NYSE:AORT) by 17.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,812 shares of the company’s stock after selling 22,589 shares during the period. Connors Investor Services Inc. owned about 0.22% of Artivion worth $4,395,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AORT. Caitong International Asset Management Co. Ltd acquired a new stake in Artivion during the 3rd quarter valued at $27,000. Hancock Whitney Corp purchased a new position in Artivion during the third quarter worth $212,000. Dark Forest Capital Management LP acquired a new position in shares of Artivion in the third quarter worth $1,623,000. Voloridge Investment Management LLC raised its holdings in shares of Artivion by 442.9% in the third quarter. Voloridge Investment Management LLC now owns 220,076 shares of the company’s stock worth $9,318,000 after acquiring an additional 179,541 shares during the last quarter. Finally, Wasatch Advisors LP lifted its position in shares of Artivion by 24.4% in the third quarter. Wasatch Advisors LP now owns 282,391 shares of the company’s stock valued at $11,956,000 after acquiring an additional 55,408 shares in the last quarter. 86.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on AORT shares. Wall Street Zen lowered Artivion from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Stifel Nicolaus set a $55.00 target price on shares of Artivion in a report on Thursday, March 5th. Canaccord Genuity Group decreased their price target on shares of Artivion from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Needham & Company LLC reiterated a “buy” rating and set a $58.00 price target on shares of Artivion in a report on Monday, February 2nd. Finally, Weiss Ratings raised shares of Artivion from a “sell (d)” rating to a “hold (c-)” rating in a research report on Friday, February 20th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.47.

Artivion Stock Performance

Artivion stock opened at $37.45 on Wednesday. The stock has a fifty day moving average price of $39.81 and a 200 day moving average price of $42.49. Artivion, Inc. has a 52 week low of $21.97 and a 52 week high of $48.25. The firm has a market capitalization of $1.79 billion, a P/E ratio of 187.26 and a beta of 1.60. The company has a current ratio of 3.53, a quick ratio of 2.62 and a debt-to-equity ratio of 0.49.

Artivion (NYSE:AORT) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. Artivion had a return on equity of 7.43% and a net margin of 2.21%.The firm had revenue of $118.30 million for the quarter, compared to analyst estimates of $116.42 million. The firm’s revenue was up 19.2% on a year-over-year basis. Equities research analysts anticipate that Artivion, Inc. will post 0.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John E. Davis sold 4,573 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $37.78, for a total value of $172,767.94. Following the completion of the sale, the insider directly owned 230,794 shares in the company, valued at approximately $8,719,397.32. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marshall S. Stanton sold 2,149 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $37.78, for a total transaction of $81,189.22. Following the transaction, the senior vice president directly owned 60,097 shares of the company’s stock, valued at $2,270,464.66. This trade represents a 3.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 133,043 shares of company stock valued at $4,977,158. 8.10% of the stock is currently owned by corporate insiders.

Artivion 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.