CryoLife Inc. (CRY) Downgraded by Zacks Investment Research
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) “
CRY has been the subject of a number of other research reports. Canaccord Genuity reissued a “buy” rating on shares of CryoLife in a report on Tuesday, July 26th. Piper Jaffray Cos. restated an “overweight” rating and issued a $16.00 target price on shares of CryoLife in a research report on Wednesday, July 27th. Finally, Lake Street Capital started coverage on shares of CryoLife in a research report on Wednesday, June 15th. They issued a “buy” rating and a $15.00 target price for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $15.00.
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Shares of CryoLife (NYSE:CRY) traded down 4.31% during trading on Tuesday, reaching $16.88. 521,449 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $17.09 and its 200-day moving average price is $13.56. The stock has a market cap of $575.78 million, a PE ratio of 54.10 and a beta of 1.04. CryoLife has a 52-week low of $8.94 and a 52-week high of $18.64.
CryoLife (NYSE:CRY) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.11. The firm earned $47.10 million during the quarter, compared to the consensus estimate of $35.50 million. CryoLife had a net margin of 5.80% and a return on equity of 8.15%. The business’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. On average, equities research analysts forecast that CryoLife will post $0.34 EPS for the current year.
In related news, Director C Elkins Ronald sold 2,000 shares of the company’s 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 transaction, the director now directly owns 103,586 shares in the company, valued at approximately $1,450,204. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.08% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors boosted its position in CryoLife by 13.4% in the second quarter. BlackRock Fund Advisors now owns 1,863,006 shares of the company’s stock worth $22,002,000 after buying an additional 220,391 shares in the last quarter. Chartwell Investment Partners LLC bought a new position in CryoLife during the second quarter worth about $16,488,000. Vanguard Group Inc. boosted its position in CryoLife by 4.2% in the second quarter. Vanguard Group Inc. now owns 1,306,807 shares of the company’s stock worth $15,433,000 after buying an additional 53,007 shares in the last quarter. Macquarie Group Ltd. boosted its position in CryoLife by 18.5% in the second quarter. Macquarie Group Ltd. now owns 1,014,361 shares of the company’s stock worth $11,980,000 after buying an additional 158,177 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in CryoLife by 8.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 912,648 shares of the company’s stock worth $10,778,000 after buying an additional 71,163 shares in the last quarter. Institutional investors and hedge funds own 58.13% 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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