CryoLife, Inc. (NYSE:CRY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “CryoLife, Inc. is the leader in the development and commercialization of implantable living human tissues for use in cardiovascular, vascular, and orthopaedic surgeries throughout the United States and Canada. The company’s BioGlue surgical adhesive, the company marked in the European Union for use in vascular and pulmonary sealing and repair, is distributed throughout Europe. The company also manufactures CryoLife- O’Brien and CryoLife-Ross stentless porcine heart valves which are distributed within the European Community. (PRESS RELEASE) “

Other equities research analysts have also recently issued reports about the company. Northland Securities reissued a “buy” rating and issued a $23.50 price objective on shares of CryoLife in a research report on Friday, April 28th. BidaskClub cut CryoLife from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $22.00.

CryoLife (CRY) traded up 2.72% on Monday, hitting $18.90. 80,740 shares of the stock were exchanged. The company’s 50 day moving average price is $19.30 and its 200-day moving average price is $17.96. CryoLife has a one year low of $14.02 and a one year high of $20.30. The company has a market cap of $632.13 million, a P/E ratio of 57.27 and a beta of 0.97.

CryoLife (NYSE:CRY) last posted its quarterly earnings data on Monday, July 24th. The medical equipment provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. CryoLife had a return on equity of 7.41% and a net margin of 6.16%. The company had revenue of $47.80 million during the quarter, compared to analysts’ expectations of $47.02 million. During the same period in the prior year, the business earned $0.13 earnings per share. CryoLife’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts predict that CryoLife will post $0.43 EPS for the current fiscal year.

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In related news, VP Amy Horton sold 9,577 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $20.00, for a total value of $191,540.00. Following the completion of the transaction, the vice president now directly owns 112,282 shares of the company’s stock, valued at $2,245,640. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its position in shares of CryoLife by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the medical equipment provider’s stock valued at $221,000 after buying an additional 100 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of CryoLife by 3.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 6,150 shares of the medical equipment provider’s stock valued at $102,000 after buying an additional 190 shares during the period. Arizona State Retirement System boosted its position in shares of CryoLife by 1.4% in the first quarter. Arizona State Retirement System now owns 14,054 shares of the medical equipment provider’s stock valued at $234,000 after buying an additional 200 shares during the period. Creative Planning boosted its position in shares of CryoLife by 3.0% in the second quarter. Creative Planning now owns 6,806 shares of the medical equipment provider’s stock valued at $136,000 after buying an additional 200 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of CryoLife by 0.9% in the second quarter. Wells Fargo & Company MN now owns 31,313 shares of the medical equipment provider’s stock valued at $624,000 after buying an additional 271 shares during the period. 69.22% of the stock is owned by hedge funds and other institutional investors.

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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