CryoLife, Inc. (CRY) Earns Buy Rating from Canaccord Genuity

Canaccord Genuity reaffirmed their buy rating on shares of CryoLife, Inc. (NYSE:CRY) in a report released on Monday. Canaccord Genuity currently has a $25.00 target price on the medical equipment provider’s stock.

Several other research analysts have also weighed in on CRY. BidaskClub lowered CryoLife from a hold rating to a sell rating in a research report on Tuesday, August 1st. Zacks Investment Research raised CryoLife from a sell rating to a hold rating in a research report on Monday, August 14th. One investment 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) opened at 21.30 on Monday. CryoLife has a 12 month low of $14.03 and a 12 month high of $24.00. The stock has a market cap of $712.40 million, a P/E ratio of 64.55 and a beta of 0.92. The company’s 50-day moving average price is $21.91 and its 200-day moving average price is $19.19.

CryoLife (NYSE:CRY) last posted its quarterly earnings data on Monday, July 24th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. CryoLife had a return on equity of 7.41% and a net margin of 6.16%. The business had revenue of $47.80 million for the quarter, compared to analysts’ expectations of $47.02 million. During the same quarter last year, the firm earned $0.13 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. Equities analysts forecast that CryoLife will post $0.43 earnings per share for the current year.

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In other CryoLife news, Director James Benson sold 2,000 shares of CryoLife stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $22.80, for a total value of $45,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James P. Mackin sold 125,000 shares of CryoLife stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $22.01, for a total value of $2,751,250.00. Following the completion of the transaction, the chief executive officer now owns 398,399 shares of the company’s stock, valued at $8,768,761.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 171,050 shares of company stock valued at $3,769,825. 6.00% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of CRY. Municipal Employees Retirement System of Michigan boosted its stake in CryoLife by 3.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 6,150 shares of the medical equipment provider’s stock valued at $102,000 after acquiring an additional 190 shares during the period. Mason Street Advisors LLC raised its holdings in shares of CryoLife by 7.4% during the first quarter. Mason Street Advisors LLC now owns 6,324 shares of the medical equipment provider’s stock valued at $105,000 after buying an additional 438 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of CryoLife by 80.8% during the second quarter. State of Alaska Department of Revenue now owns 5,387 shares of the medical equipment provider’s stock valued at $107,000 after buying an additional 2,407 shares during the last quarter. First Mercantile Trust Co. raised its holdings in shares of CryoLife by 5.6% during the second quarter. First Mercantile Trust Co. now owns 5,448 shares of the medical equipment provider’s stock valued at $109,000 after buying an additional 291 shares during the last quarter. Finally, Creative Planning raised its holdings in shares of CryoLife by 3.0% during the second quarter. Creative Planning now owns 6,806 shares of the medical equipment provider’s stock valued at $136,000 after buying an additional 200 shares during the last quarter. Institutional investors own 68.44% of the company’s stock.

CryoLife Company Profile

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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