Zacks Investment Research upgraded shares of CryoLife Inc. (NYSE:CRY) from a hold rating to a buy rating in a research report report published on Monday. The brokerage currently has $19.00 price objective on the stock.
According to Zacks, “CryoLife, Inc. is the leader in the development and commercialization of implantable living human tissues for use in cardiovascular, vascular, and orthopaedic surgeries throughout the United States and Canada. The company’s BioGlue surgical adhesive, the company marked in the European Union for use in vascular and pulmonary sealing and repair, is distributed throughout Europe. The company also manufactures CryoLife- O’Brien and CryoLife-Ross stentless porcine heart valves which are distributed within the European Community. (PRESS RELEASE) “
CRY has been the topic of a number of other research reports. Canaccord Genuity reaffirmed a buy rating on shares of CryoLife in a research report on Tuesday, July 26th. Piper Jaffray Cos. reiterated an overweight rating and issued a $16.00 target price on shares of CryoLife in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $15.20.
Shares of CryoLife (NYSE:CRY) traded up 1.19% during mid-day trading on Monday, reaching $16.95. 25,683 shares of the company’s stock were exchanged. CryoLife has a one year low of $8.94 and a one year high of $18.64. The company’s 50-day moving average price is $17.29 and its 200-day moving average price is $13.75. The company has a market capitalization of $578.16 million, a PE ratio of 54.33 and a beta of 1.04.
CryoLife (NYSE:CRY) last issued its quarterly earnings data on Monday, July 25th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.11. CryoLife had a net margin of 5.80% and a return on equity of 8.15%. The firm had revenue of $47.10 million for the quarter, compared to the consensus estimate of $35.50 million. During the same quarter in the previous year, the firm earned $0.03 EPS. The company’s quarterly revenue was up 32.6% compared to the same quarter last year. On average, equities analysts expect that CryoLife will post $0.34 earnings per share for the current year.
In other CryoLife news, Director C Elkins Ronald sold 2,000 shares of CryoLife stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $14.00, for a total transaction of $28,000.00. Following the completion of the sale, the director now directly owns 103,586 shares in the company, valued at approximately $1,450,204. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.08% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Menta Capital LLC acquired a new stake in shares of CryoLife during the second quarter valued at approximately $133,000. Louisiana State Employees Retirement System boosted its stake in shares of CryoLife by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,400 shares of the company’s stock valued at $135,000 after buying an additional 100 shares during the last quarter. Creative Planning boosted its stake in shares of CryoLife by 14.1% in the third quarter. Creative Planning now owns 8,088 shares of the company’s stock valued at $142,000 after buying an additional 1,000 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of CryoLife during the second quarter valued at approximately $145,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of CryoLife by 6.7% in the second quarter. Thrivent Financial for Lutherans now owns 12,470 shares of the company’s stock valued at $147,000 after buying an additional 780 shares during the last quarter. Institutional investors and hedge funds own 58.11% of the company’s stock.
CryoLife Company Profile
CryoLife, Inc (CryoLife) is engaged in medical device manufacturing and distribution, and in the processing and distribution of implantable human tissues for cardiac and vascular surgeries. The Company operates in two segments: Medical Devices and Preservation Services. The Medical Devices segment sells BioGlue, BioFoam, PerClot, CardioGenesis cardiac laser therapy, Hemodialysis Reliable Outflow (HeRO) Graft, and ProCol Vascular Bioprosthesis (ProCol).
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