Cryolife (CRY) Cut to Sell at Zacks Investment Research

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Zacks Investment Research cut shares of Cryolife (NYSE:CRY) from a hold rating to a sell rating in a report issued on Wednesday.

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 equities research analysts have also recently weighed in on CRY. ValuEngine raised shares of Cryolife from a buy rating to a strong-buy rating in a research report on Wednesday, January 2nd. Northland Securities reissued a buy rating and issued a $32.00 price target on shares of Cryolife in a research report on Thursday, January 17th.

Shares of CRY opened at $29.71 on Wednesday. Cryolife has a 1-year low of $18.00 and a 1-year high of $36.05. The firm has a market capitalization of $1.07 billion, a P/E ratio of 114.27 and a beta of 0.47. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.66 and a quick ratio of 4.16.

Cryolife (NYSE:CRY) last announced its quarterly earnings results on Wednesday, February 13th. The medical equipment provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). Cryolife had a negative net margin of 1.45% and a positive return on equity of 3.49%. The company had revenue of $67.80 million during the quarter, compared to analysts’ expectations of $67.10 million. As a group, sell-side analysts predict that Cryolife will post 0.31 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Cryolife by 2.8% in the fourth quarter. BlackRock Inc. now owns 5,533,113 shares of the medical equipment provider’s stock valued at $157,030,000 after purchasing an additional 152,026 shares during the period. Vanguard Group Inc. increased its stake in Cryolife by 2.7% in the third quarter. Vanguard Group Inc. now owns 2,017,304 shares of the medical equipment provider’s stock valued at $71,009,000 after purchasing an additional 53,676 shares during the period. Vanguard Group Inc increased its stake in Cryolife by 2.7% in the third quarter. Vanguard Group Inc now owns 2,017,304 shares of the medical equipment provider’s stock valued at $71,009,000 after purchasing an additional 53,676 shares during the period. Macquarie Group Ltd. increased its stake in Cryolife by 0.3% in the fourth quarter. Macquarie Group Ltd. now owns 1,635,234 shares of the medical equipment provider’s stock valued at $46,408,000 after purchasing an additional 5,474 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Cryolife by 11.9% in the third quarter. Bank of New York Mellon Corp now owns 459,275 shares of the medical equipment provider’s stock valued at $16,166,000 after purchasing an additional 48,994 shares during the period. Institutional investors own 71.67% of the company’s stock.

Cryolife Company Profile

CryoLife, Inc is a medical devices company, which engages in the processing and distribution of implantable human tissues for use in cardiac and vascular surgeries. It operates through the Medical Devices and Preservation Services segments. The Medical Devices segment includes BioGlue; BioFoam; On-X products; CardioGenesis cardiac laser therapy; PerClot; PhotoFix, Hemodialysis Reliable Outflow Graft; and ProCol Vascular Bioprosthesis.

See Also: Bull Market

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