First Analysis Comments on CryoLife, Inc.’s Q3 2017 Earnings (CRY)
CryoLife, Inc. (NYSE:CRY) – Equities researchers at First Analysis reduced their Q3 2017 earnings per share estimates for shares of CryoLife in a research note issued on Tuesday. First Analysis analyst now forecasts that the medical equipment provider will post earnings of $0.05 per share for the quarter, down from their previous forecast of $0.06. First Analysis also issued estimates for CryoLife’s Q4 2017 earnings at $0.09 EPS, FY2017 earnings at $0.29 EPS, Q1 2018 earnings at $0.03 EPS and Q2 2018 earnings at $0.07 EPS.
CryoLife (NYSE:CRY) last posted its quarterly earnings data 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. CryoLife had a return on equity of 7.41% and a net margin of 6.16%. The firm had revenue of $47.80 million for the quarter, compared to analyst estimates of $47.02 million. During the same quarter last year, the company earned $0.13 EPS. The company’s revenue was up 1.5% on a year-over-year basis.
TRADEMARK VIOLATION NOTICE: This piece was first posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/18/first-analysis-comments-on-cryolife-inc-s-q3-2017-earnings-cry.html.
Several other research firms also recently issued reports on CRY. Canaccord Genuity restated a “buy” rating and set a $25.00 target price on shares of CryoLife in a research report on Monday, October 9th. Zacks Investment Research downgraded CryoLife from a “hold” rating to a “sell” rating in a research report on Tuesday. Lake Street Capital increased their price objective on CryoLife to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Finally, BidaskClub downgraded CryoLife from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $23.63.
CryoLife (NYSE CRY) opened at 20.40 on Wednesday. The company has a market cap of $682.30 million, a price-to-earnings ratio of 61.82 and a beta of 0.92. CryoLife has a 1-year low of $14.02 and a 1-year high of $24.00. The firm’s 50-day moving average price is $22.03 and its 200-day moving average price is $19.26.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan increased its stake in CryoLife by 3.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 6,150 shares of the medical equipment provider’s stock valued at $102,000 after acquiring an additional 190 shares during the last quarter. Mason Street Advisors LLC increased its stake in CryoLife by 7.4% in the first quarter. Mason Street Advisors LLC now owns 6,324 shares of the medical equipment provider’s stock valued at $105,000 after acquiring an additional 438 shares during the last quarter. State of Alaska Department of Revenue increased its stake in CryoLife by 80.8% in the second quarter. State of Alaska Department of Revenue now owns 5,387 shares of the medical equipment provider’s stock valued at $107,000 after acquiring an additional 2,407 shares during the last quarter. First Mercantile Trust Co. increased its stake in CryoLife by 5.6% in the second quarter. First Mercantile Trust Co. now owns 5,448 shares of the medical equipment provider’s stock valued at $109,000 after acquiring an additional 291 shares during the last quarter. Finally, Creative Planning increased its stake in CryoLife by 3.0% in the second quarter. Creative Planning now owns 6,806 shares of the medical equipment provider’s stock valued at $136,000 after acquiring an additional 200 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director James Benson sold 2,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $22.80, for a total value of $45,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James P. Mackin sold 43,050 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $22.09, for a total value of $950,974.50. Following the completion of the transaction, the chief executive officer now directly owns 398,399 shares in the company, valued at approximately $8,800,633.91. The disclosure for this sale can be found here. Insiders sold 171,050 shares of company stock worth $3,769,825 in the last quarter. 6.00% of the stock is currently owned by company insiders.
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.
Receive News & Ratings for CryoLife Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CryoLife Inc. and related companies with MarketBeat.com's FREE daily email newsletter.