Artivion (NYSE:AORT) Share Price Breaks Above 50-Day Moving Average – What’s Next?

Artivion, Inc. (NYSE:AORT)’s stock price crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $23.72 and traded as high as $23.94. Artivion shares last traded at $23.77, with a volume of 645,726 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AORT. Canaccord Genuity Group lifted their target price on shares of Artivion from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Jefferies Financial Group initiated coverage on shares of Artivion in a research report on Tuesday, October 20th. They issued a “buy” rating and a $31.00 price target for the company. Citigroup reaffirmed a “market outperform” rating on shares of Artivion in a report on Tuesday, July 21st. Weiss Ratings lowered Artivion from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $44.00 target price on shares of Artivion in a report on Monday, July 20th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Artivion has an average rating of “Moderate Buy” and a consensus target price of $42.86.

Artivion Stock Up 0.8%

The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -339.52 and a beta of 1.31. The firm has a 50 day simple moving average of $23.72 and a 200-day simple moving average of $29.27. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.47 and a quick ratio of 2.51.

Artivion (NYSE:AORT) last issued its earnings results on Thursday, August 6th. The company reported $0.13 EPS for the quarter. Artivion had a negative net margin of 0.67% and a positive return on equity of 6.07%. The company had revenue of $125.76 million for the quarter, compared to the consensus estimate of $119.99 million. On average, sell-side analysts forecast that Artivion, Inc. will post 0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Artivion news, SVP Jean F. Holloway sold 977 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $28.49, for a total value of $27,834.73. Following the transaction, the senior vice president directly owned 184,118 shares in the company, valued at $5,245,521.82. The trade was a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James P. Mackin sold 70,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $28.95, for a total transaction of $2,026,500.00. Following the sale, the chief executive officer directly owned 877,275 shares in the company, valued at $25,397,111.25. This represents a 7.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 90,460 shares of company stock worth $2,557,366 in the last quarter. 6.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AORT. Royal Bank of Canada boosted its holdings in shares of Artivion by 73.1% in the 1st quarter. Royal Bank of Canada now owns 93,676 shares of the company’s stock worth $3,430,000 after acquiring an additional 39,553 shares in the last quarter. Legal & General Group Plc bought a new stake in Artivion during the 2nd quarter worth approximately $5,826,000. Orbimed Advisors LLC acquired a new stake in Artivion during the 1st quarter valued at $5,530,000. Summit Creek Advisors LLC acquired a new stake in Artivion during the 2nd quarter valued at $2,704,000. Finally, Parkman Healthcare Partners LLC acquired a new stake in Artivion during the 2nd quarter valued at $3,122,000. Institutional investors own 86.37% of the company’s stock.

About Artivion

Artivion, Inc (NYSE: AORT) is a medical device and biotechnology company focused on developing and commercializing products used in cardiac and vascular surgery. Its portfolio includes implantable devices, surgical sealants, and human tissue products designed to treat diseases of the heart, aorta, and peripheral blood vessels.

The company’s products include On-X mechanical heart valves, aortic and vascular grafts, BioGlue surgical adhesive, and stent graft systems for aortic repair. Artivion also provides tissue preservation services and distributes cardiac and vascular allografts for use in reconstructive procedures.

Artivion was formerly known as CryoLife, a company founded in 1984, and adopted the Artivion name in 2021 to reflect its broader focus on aortic and cardiac care.