Artivion (NYSE:AORT) Shares Gap Down After Earnings Miss

Artivion, Inc. (NYSE:AORT) gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $35.42, but opened at $27.31. Artivion shares last traded at $25.1120, with a volume of 1,271,438 shares traded.

The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Artivion had a return on equity of 7.43% and a net margin of 2.21%.The firm had revenue of $116.34 million during the quarter, compared to analysts’ expectations of $115.69 million. During the same period in the prior year, the company earned ($0.01) EPS. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year.

Wall Street Analyst Weigh In

AORT has been the subject of several recent research reports. LADENBURG THALM/SH SH upgraded Artivion from a “neutral” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Friday, April 10th. Stifel Nicolaus set a $55.00 price objective on Artivion in a research report on Thursday, March 5th. Weiss Ratings upgraded Artivion from a “sell (d)” rating to a “hold (c-)” rating in a research report on Friday, February 20th. Canaccord Genuity Group lowered their price objective on Artivion from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Finally, Wall Street Zen downgraded Artivion from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.67.

Insider Activity

In related news, SVP Jean F. Holloway sold 8,962 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $38.00, for a total transaction of $340,556.00. Following the completion of the transaction, the senior vice president owned 185,095 shares of the company’s stock, valued at $7,033,610. This trade represents a 4.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John E. Davis sold 4,573 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $37.78, for a total value of $172,767.94. Following the transaction, the insider owned 230,794 shares of the company’s stock, valued at $8,719,397.32. The trade was a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 133,043 shares of company stock worth $4,977,158. 6.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Artivion

Several institutional investors and hedge funds have recently modified their holdings of the stock. Verition Fund Management LLC increased its holdings in shares of Artivion by 1.6% during the third quarter. Verition Fund Management LLC now owns 16,912 shares of the company’s stock valued at $716,000 after acquiring an additional 274 shares in the last quarter. Entropy Technologies LP increased its holdings in Artivion by 6.0% in the 4th quarter. Entropy Technologies LP now owns 5,504 shares of the company’s stock worth $251,000 after buying an additional 310 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Artivion by 150.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 665 shares of the company’s stock worth $30,000 after buying an additional 399 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Artivion by 1.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 23,294 shares of the company’s stock worth $985,000 after buying an additional 414 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Artivion by 6.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 8,232 shares of the company’s stock worth $349,000 after buying an additional 477 shares in the last quarter. 86.37% of the stock is currently owned by institutional investors.

Artivion Price Performance

The firm has a fifty day moving average of $36.50 and a 200 day moving average of $41.19. The company has a market capitalization of $1.22 billion, a P/E ratio of 124.63 and a beta of 1.41. The company has a current ratio of 3.53, a quick ratio of 2.62 and a debt-to-equity ratio of 0.49.

Artivion Company Profile

Artivion, Inc (NYSE: AORT) is a global medical technology company that develops, manufactures and markets implantable tissue products and surgical devices for cardiac and vascular surgery. The company’s portfolio includes biologic implants derived from human and animal tissue, such as allografts and xenografts, as well as synthetic scaffolds and surgical adhesives. These products are designed to repair, reinforce or replace damaged cardiovascular and thoracic tissues during procedures such as aortic repair, heart valve surgery and vascular reconstruction.

Originally founded in 1984 under the name CryoLife, the company rebranded as Artivion in early 2022 to reflect its broader mission in cardiovascular innovation.