CryoLife, Inc. (CRY) Updates FY17 Earnings Guidance
CryoLife, Inc. (NYSE:CRY) updated its FY17 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.40-0.43 for the period, compared to the Thomson Reuters consensus estimate of $0.41. The company issued revenue guidance of $184-185 million, compared to the consensus revenue estimate of $187.96 million.
A number of equities research analysts have weighed in on the stock. BidaskClub downgraded shares of CryoLife from a hold rating to a sell rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of CryoLife from a buy rating to a sell rating in a research report on Wednesday, August 2nd. Lake Street Capital boosted their price objective on shares of CryoLife to $26.00 and gave the company a buy rating in a research report on Wednesday, October 11th. Finally, Canaccord Genuity reissued a buy rating and set a $25.00 price objective on shares of CryoLife in a research report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $23.63.
Shares of CryoLife, Inc. (NYSE:CRY) traded up 0.50% during mid-day trading on Monday, reaching $20.10. 214,988 shares of the company’s stock traded hands. CryoLife, Inc. has a 12-month low of $14.02 and a 12-month high of $24.00. The company’s 50 day moving average is $21.74 and its 200 day moving average is $19.61. The company has a market cap of $672.26 million, a P/E ratio of 60.91 and a beta of 0.92.
CryoLife (NYSE:CRY) last posted its quarterly earnings results on Tuesday, October 24th. The medical equipment provider reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). CryoLife had a return on equity of 7.41% and a net margin of 6.16%. The business had revenue of $44.00 million for the quarter, compared to analyst estimates of $44.60 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. On average, analysts predict that CryoLife, Inc. will post $0.42 EPS for the current fiscal year.
In related news, CEO James P. Mackin sold 125,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $22.01, for a total transaction of $2,751,250.00. Following the sale, the chief executive officer now directly owns 398,399 shares of the company’s stock, valued at approximately $8,768,761.99. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Benson sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $22.80, for a total transaction of $45,600.00. The disclosure for this sale can be found here. Insiders have sold 171,050 shares of company stock worth $3,769,825 over the last ninety days. 6.00% of the stock is owned by insiders.
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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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