Cryolife (CRY) Lowered to Sell at Zacks Investment Research

Cryolife (NYSE:CRY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “CryoLife, Inc. is a leader in medical device manufacturing and distribution and in the processing and distribution of implantable living human tissues for use in cardiac and vascular surgeries. It operates throughout the U.S. and internationally. CryoLife manufactures and distributes BioGlue Surgical Adhesive, an FDA-approved adjunct to sutures and staples for use in adult patients in open surgical repair of large vessels. BioGlue is also CE marked in Europe for use in soft tissue repair and has received additional marketing approvals in several other countries throughout the world. CryoLife’s BioFoam Surgical Matrix is CE marked in Europe for use as an adjunct to hemostasis in cardiovascular surgery and on abdominal parenchymal tissues (liver and spleen) when control of bleeding by ligature or conventional methods is ineffective or impractical. CryoLife distributes PerClot, a powdered hemostat, in Europe and other select international countries. “

Several other research firms also recently issued reports on CRY. Northland Securities restated a “buy” rating and set a $32.00 price objective on shares of Cryolife in a report on Thursday, January 17th. ValuEngine upgraded shares of Cryolife from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 2nd.

CRY traded up $0.87 during trading on Wednesday, hitting $29.71. The stock had a trading volume of 283,300 shares, compared to its average volume of 165,435. The company has a market capitalization of $999.23 million, a PE ratio of 114.27 and a beta of 0.47. Cryolife has a 12 month low of $18.00 and a 12 month high of $36.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.66 and a quick ratio of 4.16.

Cryolife (NYSE:CRY) last announced its earnings results on Wednesday, February 13th. The medical equipment provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.07). The firm had revenue of $67.80 million during the quarter, compared to the consensus estimate of $67.10 million. Cryolife had a positive return on equity of 3.49% and a negative net margin of 1.45%. Analysts anticipate that Cryolife will post 0.3 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in shares of Cryolife during the 4th quarter valued at about $32,000. Bessemer Group Inc. acquired a new stake in shares of Cryolife during the 4th quarter valued at about $60,000. LS Investment Advisors LLC boosted its position in shares of Cryolife by 126.0% during the 4th quarter. LS Investment Advisors LLC now owns 2,581 shares of the medical equipment provider’s stock valued at $73,000 after acquiring an additional 1,439 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Cryolife by 113.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the medical equipment provider’s stock valued at $79,000 after acquiring an additional 1,484 shares in the last quarter. Finally, Columbia Asset Management acquired a new stake in shares of Cryolife during the 3rd quarter valued at about $106,000. Institutional investors and hedge funds own 71.67% of the company’s stock.

About Cryolife

CryoLife, Inc is a medical devices company, which engages in the processing and distribution of implantable human tissues for use in cardiac and vascular surgeries. It operates through the Medical Devices and Preservation Services segments. The Medical Devices segment includes BioGlue; BioFoam; On-X products; CardioGenesis cardiac laser therapy; PerClot; PhotoFix, Hemodialysis Reliable Outflow Graft; and ProCol Vascular Bioprosthesis.

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