Zacks Investment Research Upgrades CryoLife, Inc. (NYSE:CRY) to Hold
CryoLife, Inc. (NYSE:CRY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
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 research firms also recently issued reports on CRY. BidaskClub downgraded shares of CryoLife from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Northland Securities reiterated a “buy” rating and set a $23.50 price objective on shares of CryoLife in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $22.00.
CryoLife (CRY) traded up 2.72% during mid-day trading on Monday, reaching $18.90. The company’s stock had a trading volume of 80,740 shares. The stock has a market cap of $632.13 million, a P/E ratio of 57.27 and a beta of 0.97. The firm’s 50 day moving average is $19.30 and its 200-day moving average is $17.96. CryoLife has a one year low of $14.02 and a one year high of $20.30.
CryoLife (NYSE:CRY) last issued its earnings results on Monday, July 24th. The medical equipment provider reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. The business had revenue of $47.80 million for the quarter, compared to the consensus estimate of $47.02 million. CryoLife had a net margin of 6.16% and a return on equity of 7.41%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS. Equities analysts expect that CryoLife will post $0.43 earnings per share for the current fiscal year.
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In other news, VP Amy Horton sold 9,577 shares of the stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $20.00, for a total transaction of $191,540.00. Following the transaction, the vice president now directly owns 112,282 shares in the company, valued at $2,245,640. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.00% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in CryoLife by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,960,221 shares of the medical equipment provider’s stock worth $39,107,000 after buying an additional 110,973 shares in the last quarter. Vanguard Group Inc. boosted its position in CryoLife by 6.6% in the second quarter. Vanguard Group Inc. now owns 1,658,646 shares of the medical equipment provider’s stock worth $33,090,000 after buying an additional 102,540 shares in the last quarter. Macquarie Group Ltd. boosted its position in CryoLife by 18.6% in the second quarter. Macquarie Group Ltd. now owns 1,387,710 shares of the medical equipment provider’s stock worth $27,685,000 after buying an additional 217,283 shares in the last quarter. Northern Trust Corp boosted its position in CryoLife by 7.4% in the second quarter. Northern Trust Corp now owns 1,171,769 shares of the medical equipment provider’s stock worth $23,377,000 after buying an additional 81,090 shares in the last quarter. Finally, State Street Corp boosted its position in CryoLife by 5.2% in the second quarter. State Street Corp now owns 758,840 shares of the medical equipment provider’s stock worth $15,143,000 after buying an additional 37,279 shares in the last quarter. Institutional investors own 69.22% of the company’s stock.
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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