Canaccord Genuity Reaffirms Buy Rating for Cryolife (CRY)
Cryolife (NYSE:CRY)‘s stock had its “buy” rating reiterated by investment analysts at Canaccord Genuity in a research note issued to investors on Wednesday. They presently have a $25.00 price target on the medical equipment provider’s stock. Canaccord Genuity’s price target would suggest a potential upside of 30.89% from the stock’s current price.
The analysts wrote, “We are updating our model and now include 2019 estimates. We reiterate our BUY rating and $25 price target.””
Several other equities research analysts have also recently issued reports on CRY. Lake Street Capital lifted their price objective on Cryolife to $26.00 and gave the stock a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research cut Cryolife from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. TheStreet cut Cryolife from a “b” rating to a “c+” rating in a report on Monday, October 30th. Finally, Northland Securities reiterated a “buy” rating and issued a $23.50 price objective on shares of Cryolife in a report on Monday, November 13th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Cryolife currently has an average rating of “Hold” and a consensus target price of $23.63.
Shares of Cryolife (CRY) opened at $19.10 on Wednesday. The company has a quick ratio of 4.90, a current ratio of 5.96 and a debt-to-equity ratio of 0.29. Cryolife has a twelve month low of $14.02 and a twelve month high of $24.00. The stock has a market capitalization of $640.71, a PE ratio of 68.21 and a beta of 0.82.
Cryolife (NYSE:CRY) last posted its quarterly earnings data on Monday, October 30th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. Cryolife had a return on equity of 6.43% and a net margin of 5.28%. The company had revenue of $44.00 million for the quarter, compared to analysts’ expectations of $44.60 million. During the same period in the previous year, the firm posted $0.13 EPS. Cryolife’s revenue was down 2.9% compared to the same quarter last year. equities research analysts anticipate that Cryolife will post 0.28 earnings per share for the current year.
In other news, CAO Amy Horton sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $19.00, for a total transaction of $76,000.00. Following the transaction, the chief accounting officer now directly owns 98,705 shares in the company, valued at approximately $1,875,395. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP David C. Gale sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $19.63, for a total value of $392,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,190 shares of company stock worth $1,138,240. Insiders own 6.00% of the company’s stock.
Several institutional investors have recently modified their holdings of CRY. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Cryolife by 3.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,380 shares of the medical equipment provider’s stock worth $127,000 after purchasing an additional 230 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Cryolife by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 6,937 shares of the medical equipment provider’s stock valued at $138,000 after buying an additional 1,041 shares during the period. KBC Group NV purchased a new stake in shares of Cryolife during the 2nd quarter valued at approximately $165,000. BNP Paribas Arbitrage SA raised its position in shares of Cryolife by 67.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,593 shares of the medical equipment provider’s stock valued at $171,000 after buying an additional 3,451 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of Cryolife by 161.5% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 10,200 shares of the medical equipment provider’s stock valued at $203,000 after buying an additional 6,300 shares during the period. Institutional investors and hedge funds own 73.28% of the company’s stock.
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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