Cryolife (CRY) Receives Buy Rating from Canaccord Genuity

Canaccord Genuity reiterated their buy rating on shares of Cryolife (NYSE:CRY) in a report issued on Wednesday morning. The brokerage currently has a $25.00 target price on the medical equipment provider’s stock.

“We are updating our model and now include 2019 estimates. We reiterate our BUY rating and $25 price target.”,” the firm’s analyst wrote.

Other analysts have also recently issued reports about the company. Zacks Investment Research cut Cryolife from a hold rating to a sell rating in a research report on Tuesday, October 17th. Lake Street Capital raised their price objective on Cryolife to $26.00 and gave the company a buy rating in a research report on Wednesday, October 11th. Northland Securities reaffirmed a buy rating and issued a $23.50 price objective on shares of Cryolife in a research report on Monday, November 13th. Finally, TheStreet cut Cryolife from a b rating to a c+ rating in a research report on Monday, October 30th. Two 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 an average rating of Hold and an average price target of $23.63.

Shares of Cryolife (CRY) traded up $0.15 during midday trading on Wednesday, reaching $19.25. The company had a trading volume of 64,900 shares, compared to its average volume of 136,367. Cryolife has a 1 year low of $14.02 and a 1 year high of $24.00. The company has a quick ratio of 4.90, a current ratio of 5.96 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $639.04, a PE ratio of 68.75 and a beta of 0.82.

Cryolife (NYSE:CRY) last issued its quarterly earnings results on Monday, October 30th. The medical equipment provider reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. Cryolife had a return on equity of 6.43% and a net margin of 5.28%. The firm had revenue of $44.00 million during the quarter, compared to analysts’ expectations of $44.60 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. sell-side analysts forecast that Cryolife will post 0.28 earnings per share for the current fiscal year.

In other news, VP David C. Gale sold 20,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $19.63, for a total transaction of $392,600.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David Ashley Lee sold 33,190 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $19.00, for a total value of $630,610.00. Following the transaction, the chief financial officer now owns 324,339 shares in the company, valued at approximately $6,162,441. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,190 shares of company stock valued at $1,138,240. Insiders own 6.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CRY. Russell Investments Group Ltd. bought a new position in shares of Cryolife during the third quarter worth approximately $6,164,000. Macquarie Group Ltd. increased its stake in shares of Cryolife by 16.0% during the third quarter. Macquarie Group Ltd. now owns 1,609,284 shares of the medical equipment provider’s stock worth $36,531,000 after purchasing an additional 221,574 shares during the period. Thomson Horstmann & Bryant Inc. increased its stake in shares of Cryolife by 139.0% during the third quarter. Thomson Horstmann & Bryant Inc. now owns 224,518 shares of the medical equipment provider’s stock worth $5,096,000 after purchasing an additional 130,593 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Cryolife by 6.0% during 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 purchasing an additional 110,973 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Cryolife by 6.6% during the second quarter. Vanguard Group Inc. now owns 1,658,646 shares of the medical equipment provider’s stock worth $33,090,000 after purchasing an additional 102,540 shares during the period. Institutional investors own 73.28% of the company’s stock.

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Cryolife Company Profile

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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