CryoLife Inc. (CRY) Downgraded by Zacks Investment Research to Hold
CryoLife Inc. (NYSE:CRY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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) “
A number of other analysts also recently issued reports on CRY. Canaccord Genuity reissued a “buy” rating on shares of CryoLife in a research report on Tuesday, July 26th. Lake Street Capital assumed coverage on CryoLife in a research report on Wednesday, June 15th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $16.00 target price on shares of CryoLife in a research report on Wednesday, July 27th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $15.00.
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Shares of CryoLife (NYSE:CRY) traded down 4.31% during mid-day trading on Tuesday, hitting $16.88. The company had a trading volume of 521,449 shares. The company’s 50-day moving average is $17.09 and its 200 day moving average is $13.56. The company has a market capitalization of $575.78 million, a PE ratio of 54.10 and a beta of 1.04. CryoLife has a one year low of $8.94 and a one year high of $18.64.
CryoLife (NYSE:CRY) last released its earnings results on Monday, July 25th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.11. CryoLife had a return on equity of 8.15% and a net margin of 5.80%. The business earned $47.10 million during the quarter, compared to the consensus estimate of $35.50 million. During the same period last year, the business posted $0.03 earnings per share. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. On average, equities research analysts forecast that CryoLife will post $0.34 EPS for the current fiscal year.
In related news, Director C Elkins Ronald sold 2,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $14.00, for a total transaction of $28,000.00. Following the completion of the transaction, the director now directly owns 103,586 shares in the company, valued at $1,450,204. The transaction was disclosed in a document filed with the SEC, which is available through this link. 6.08% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. boosted its position in CryoLife by 11.8% in the first quarter. Prudential Financial Inc. now owns 65,404 shares of the company’s stock valued at $703,000 after buying an additional 6,881 shares during the last quarter. BlackRock Fund Advisors boosted its position in CryoLife by 1.1% in the first quarter. BlackRock Fund Advisors now owns 1,642,615 shares of the company’s stock valued at $17,658,000 after buying an additional 18,349 shares during the last quarter. Royce & Associates LP boosted its position in CryoLife by 10.6% in the first quarter. Royce & Associates LP now owns 731,200 shares of the company’s stock valued at $7,860,000 after buying an additional 70,000 shares during the last quarter. Spark Investment Management LLC boosted its position in CryoLife by 217.6% in the first quarter. Spark Investment Management LLC now owns 39,700 shares of the company’s stock valued at $426,000 after buying an additional 27,200 shares during the last quarter. Finally, Adirondack Research & Management Inc. boosted its position in CryoLife by 1.5% in the first quarter. Adirondack Research & Management Inc. now owns 277,123 shares of the company’s stock valued at $2,979,000 after buying an additional 4,200 shares during the last quarter. Institutional investors and hedge funds own 58.13% of the company’s stock.
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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