Zacks Investment Research upgraded shares of Cryolife (NYSE:CRY) from a hold rating to a buy rating in a research report report published on Friday, Zacks.com reports. The firm currently has $26.00 price target on the medical equipment provider’s stock.
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. “
Other equities research analysts have also recently issued reports about the company. ValuEngine cut Cryolife from a strong-buy rating to a buy rating in a report on Tuesday, October 1st. Canaccord Genuity set a $35.00 price target on Cryolife and gave the company a buy rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $30.66.
CRY stock traded down $0.37 during trading on Friday, hitting $22.88. 115,398 shares of the company traded hands, compared to its average volume of 197,445. The firm has a market capitalization of $871.88 million, a PE ratio of 88.00 and a beta of 0.64. Cryolife has a 1 year low of $22.30 and a 1 year high of $33.78. The company has a 50-day moving average of $26.86 and a 200-day moving average of $28.67. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.82 and a current ratio of 5.03.
Cryolife (NYSE:CRY) last issued its earnings results on Tuesday, July 30th. The medical equipment provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $71.14 million during the quarter, compared to analysts’ expectations of $70.79 million. Cryolife had a return on equity of 3.85% and a net margin of 0.87%. Cryolife’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. Sell-side analysts expect that Cryolife will post 0.29 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Panagora Asset Management Inc. bought a new position in Cryolife during the 2nd quarter valued at approximately $32,000. Bank of Montreal Can raised its position in Cryolife by 238.6% during the 2nd quarter. Bank of Montreal Can now owns 5,143 shares of the medical equipment provider’s stock valued at $154,000 after purchasing an additional 3,624 shares during the last quarter. Smith Capital Management Inc. AR ADV bought a new position in shares of Cryolife in the 2nd quarter worth approximately $202,000. Paloma Partners Management Co bought a new position in shares of Cryolife in the 2nd quarter worth approximately $269,000. Finally, Laurion Capital Management LP bought a new position in shares of Cryolife in the 2nd quarter worth approximately $276,000. 70.78% of the stock is owned by institutional investors and hedge funds.
Cryolife Company Profile
CryoLife, Inc, together with its subsidiaries, manufactures, processes, and distributes medical devices and implantable human tissues for use in cardiac and vascular surgeries worldwide. The company operates in two segments, Medical Devices and Preservation Services. It offers BioGlue, an agent for cross-linking proteins for cardiac, vascular, pulmonary, and general surgical applications; On-X mechanical heart valves for aortic and mitral indications; cardiac preservation services; PhotoFix, a bovine pericardial patch for use in cardiac and vascular repairing activities; and PerClot, an absorbable powdered hemostat for use in surgical procedures, including cardiac, vascular, orthopedic, neurological, gynecological, ENT, and trauma surgeries.
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