Zacks Investment Research Upgrades Cryolife (CRY) to Hold

Zacks Investment Research upgraded shares of Cryolife (NYSE:CRY) from a sell rating to a hold rating in a research note published on Tuesday.

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. “

Several other analysts also recently issued reports on CRY. Canaccord Genuity reaffirmed a buy rating and set a $25.00 price objective on shares of Cryolife in a report on Monday, October 9th. Northland Securities reissued a buy rating and issued a $23.50 price target on shares of Cryolife in a report on Monday, November 13th. TheStreet downgraded shares of Cryolife from a b rating to a c+ rating in a report on Monday, October 30th. Finally, Lake Street Capital increased their price target on shares of Cryolife to $26.00 and gave the company a buy rating in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $23.63.

Cryolife (NYSE:CRY) traded up $0.15 during midday trading on Tuesday, hitting $18.35. 101,239 shares of the company traded hands, compared to its average volume of 120,575. The company has a current ratio of 5.96, a quick ratio of 4.90 and a debt-to-equity ratio of 0.29. The company has a market cap of $663.17, a P/E ratio of 65.54 and a beta of 0.82. Cryolife has a fifty-two week low of $14.02 and a fifty-two week high of $24.00.

Cryolife (NYSE:CRY) last posted its quarterly earnings data on Monday, October 30th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. The business had revenue of $44.00 million during the quarter, compared to the consensus estimate of $44.60 million. Cryolife had a net margin of 5.28% and a return on equity of 6.43%. Cryolife’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS. sell-side analysts anticipate that Cryolife will post 0.28 earnings per share for the current fiscal year.

In other Cryolife news, CAO Amy Horton sold 4,000 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $19.00, for a total value of $76,000.00. Following the completion of the sale, the chief accounting officer now directly owns 98,705 shares of the company’s stock, valued at approximately $1,875,395. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP David C. Gale sold 20,000 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $19.63, for a total transaction of $392,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,190 shares of company stock valued at $1,138,240. Insiders own 6.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN lifted its holdings in shares of Cryolife by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 31,313 shares of the medical equipment provider’s stock worth $624,000 after acquiring an additional 271 shares during the period. Rhumbline Advisers lifted its holdings in shares of Cryolife by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 57,291 shares of the medical equipment provider’s stock worth $1,143,000 after acquiring an additional 387 shares during the period. Nationwide Fund Advisors lifted its holdings in shares of Cryolife by 3.2% during the 2nd quarter. Nationwide Fund Advisors now owns 24,351 shares of the medical equipment provider’s stock worth $486,000 after acquiring an additional 744 shares during the period. Connors Investor Services Inc. lifted its holdings in shares of Cryolife by 0.9% during the 2nd quarter. Connors Investor Services Inc. now owns 108,907 shares of the medical equipment provider’s stock worth $2,173,000 after acquiring an additional 932 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Cryolife by 0.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 163,937 shares of the medical equipment provider’s stock worth $3,270,000 after acquiring an additional 941 shares during the period. 73.28% of the stock is owned by hedge funds and other institutional investors.

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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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