CryoLife Inc. (CRY) Upgraded at Zacks Investment Research
CryoLife Inc. (NYSE:CRY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm presently has a $19.00 target price on the stock. Zacks Investment Research’s target price suggests a potential upside of 13.43% from the stock’s previous close.
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) “
Other equities research analysts have also issued research reports about the company. Canaccord Genuity reissued a “buy” rating on shares of CryoLife in a research note on Tuesday, July 26th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $16.00 target price on shares of CryoLife in a research note on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. CryoLife currently has an average rating of “Buy” and a consensus target price of $15.20.
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CryoLife (NYSE:CRY) traded down 0.36% on Monday, hitting $16.75. The stock had a trading volume of 149,879 shares. CryoLife has a 1-year low of $8.94 and a 1-year high of $18.64. The stock has a 50 day moving average price of $17.26 and a 200 day moving average price of $13.67. The company has a market cap of $571.34 million, a P/E ratio of 53.69 and a beta of 1.04.
CryoLife (NYSE:CRY) last released its earnings results on Monday, July 25th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. CryoLife had a return on equity of 8.15% and a net margin of 5.80%. The company earned $47.10 million during the quarter, compared to analyst estimates of $35.50 million. During the same quarter in the previous year, the company posted $0.03 EPS. CryoLife’s revenue for the quarter was up 32.6% on a year-over-year basis. On average, equities research analysts expect that CryoLife will post $0.34 EPS for the current fiscal year.
In other CryoLife news, Director C Elkins Ronald sold 2,000 shares of the company’s stock in a transaction that occurred on 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 owns 103,586 shares of the company’s stock, valued at approximately $1,450,204. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.08% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning increased its position in CryoLife by 14.1% in the third quarter. Creative Planning now owns 8,088 shares of the company’s stock worth $142,000 after buying an additional 1,000 shares during the period. Menta Capital LLC purchased a new position in CryoLife during the second quarter worth $133,000. Louisiana State Employees Retirement System increased its position in CryoLife by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,400 shares of the company’s stock worth $135,000 after buying an additional 100 shares during the period. A.R.T. Advisors LLC purchased a new position in CryoLife during the first quarter worth $128,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in CryoLife during the second quarter worth $145,000. Hedge funds and other institutional investors own 58.11% 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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