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 brokerage presently has a $19.00 price objective on the stock. Zacks Investment Research’s price objective points to a potential upside of 13.43% from the company’s current price.

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) “

Several other analysts have also commented on CRY. Canaccord Genuity reaffirmed a “buy” rating on shares of CryoLife in a research note on Tuesday, July 26th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $16.00 price target on shares of CryoLife in a research note on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. CryoLife presently has an average rating of “Buy” and a consensus price target of $15.20.

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CryoLife (NYSE:CRY) traded down 0.36% on Monday, reaching $16.75. The company had a trading volume of 149,879 shares. The company’s 50 day moving average price is $17.26 and its 200-day moving average price is $13.67. CryoLife has a 12 month low of $8.94 and a 12 month high of $18.64. The company has a market capitalization of $571.34 million, a price-to-earnings ratio of 53.69 and a beta of 1.04.

CryoLife (NYSE:CRY) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.11. The business had revenue of $47.10 million for the quarter, compared to analyst estimates of $35.50 million. CryoLife had a return on equity of 8.15% and a net margin of 5.80%. CryoLife’s quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 EPS. On average, equities analysts predict that CryoLife will post $0.34 earnings per share for the current fiscal year.

In other news, Director C Elkins Ronald sold 2,000 shares of the business’s stock in a transaction 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 sale, the director now owns 103,586 shares in the company, valued at $1,450,204. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 6.08% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC purchased a new stake in CryoLife during the second quarter worth $16,488,000. Elk Creek Partners LLC increased its stake in CryoLife by 150.4% in the second quarter. Elk Creek Partners LLC now owns 486,875 shares of the company’s stock worth $2,917,000 after buying an additional 292,427 shares during the last quarter. BlackRock Fund Advisors increased its stake 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 during the last quarter. Macquarie Group Ltd. increased its stake 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 during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new stake in CryoLife during the second quarter worth $921,000. Institutional investors own 58.11% of the company’s stock.

About CryoLife

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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