CryoLife (NYSE:CRY) Stock Rating Lowered by Zacks Investment Research


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CryoLife (NYSE:CRY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

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. “

Separately, Needham & Company LLC lifted their price objective on CryoLife from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Friday.

NYSE CRY traded up $0.28 on Tuesday, reaching $28.60. The company had a trading volume of 257,407 shares, compared to its average volume of 197,943. The stock has a market capitalization of $1.12 billion, a P/E ratio of -75.26, a P/E/G ratio of 161.60 and a beta of 1.47. The company’s fifty day moving average is $23.26 and its 200 day moving average is $22.77. CryoLife has a 52-week low of $16.13 and a 52-week high of $30.00. The company has a quick ratio of 3.06, a current ratio of 4.35 and a debt-to-equity ratio of 0.89.

CryoLife (NYSE:CRY) last announced its earnings results on Thursday, April 29th. The medical equipment provider reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.03. CryoLife had a positive return on equity of 1.86% and a negative net margin of 5.45%. On average, research analysts expect that CryoLife will post 0.01 EPS for the current year.

In other news, SVP Jean F. Holloway sold 1,693 shares of CryoLife stock in a transaction dated Wednesday, March 10th. The stock was sold at an average price of $25.28, for a total transaction of $42,799.04. Also, VP Dennis B. Maier sold 7,197 shares of CryoLife stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $24.73, for a total value of $177,981.81. Following the sale, the vice president now owns 23,211 shares of the company’s stock, valued at approximately $574,008.03. The disclosure for this sale can be found here. 4.70% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its position in shares of CryoLife by 49.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 101,495 shares of the medical equipment provider’s stock valued at $2,292,000 after acquiring an additional 33,779 shares during the last quarter. Next Century Growth Investors LLC boosted its position in shares of CryoLife by 19.4% during the 4th quarter. Next Century Growth Investors LLC now owns 253,391 shares of the medical equipment provider’s stock valued at $5,982,000 after acquiring an additional 41,223 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of CryoLife by 72.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 48,603 shares of the medical equipment provider’s stock valued at $1,148,000 after acquiring an additional 20,350 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of CryoLife by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 253,729 shares of the medical equipment provider’s stock valued at $5,991,000 after buying an additional 8,757 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of CryoLife by 5.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 22,749 shares of the medical equipment provider’s stock valued at $537,000 after buying an additional 1,182 shares in the last quarter. Hedge funds and other institutional investors own 80.92% of the company’s stock.

CryoLife Company Profile

CryoLife, Inc manufactures, processes, and distributes medical devices and implantable human tissues worldwide. It offers BioGlue, a polymer consisting of bovine blood protein and an agent for cross-linking proteins for cardiac, vascular, pulmonary, and general surgical applications; On-X prosthetic aortic and mitral heart valve, and On-X ascending aortic prosthesis; cardiac preservation services; PhotoFix, a bovine pericardial patch; and E-vita OPEN PLUS and E-vita OPEN NEO, a hybrid stent graft system.

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