United Services Automobile Association acquired a new position in shares of Cryolife Inc (NYSE:CRY) during the second quarter, HoldingsChannel.com reports. The firm acquired 7,451 shares of the medical equipment provider’s stock, valued at approximately $208,000.
Other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers raised its position in Cryolife by 7.7% in the second quarter. Rhumbline Advisers now owns 81,949 shares of the medical equipment provider’s stock valued at $2,282,000 after purchasing an additional 5,858 shares during the period. Schwab Charles Investment Management Inc. raised its position in Cryolife by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 181,410 shares of the medical equipment provider’s stock valued at $5,053,000 after purchasing an additional 5,701 shares during the period. Legal & General Group Plc raised its position in Cryolife by 8.2% in the second quarter. Legal & General Group Plc now owns 66,700 shares of the medical equipment provider’s stock valued at $1,853,000 after purchasing an additional 5,051 shares during the period. Principal Financial Group Inc. raised its position in Cryolife by 1.9% in the first quarter. Principal Financial Group Inc. now owns 263,759 shares of the medical equipment provider’s stock valued at $5,288,000 after purchasing an additional 5,037 shares during the period. Finally, Swiss National Bank raised its position in Cryolife by 8.1% in the second quarter. Swiss National Bank now owns 58,500 shares of the medical equipment provider’s stock valued at $1,629,000 after purchasing an additional 4,400 shares during the period. Hedge funds and other institutional investors own 68.96% of the company’s stock.
In other news, Director C Elkins Ronald sold 1,154 shares of Cryolife stock in a transaction on Friday, August 10th. The stock was sold at an average price of $33.27, for a total value of $38,393.58. Following the completion of the sale, the director now directly owns 69,843 shares of the company’s stock, valued at $2,323,676.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James P. Mackin sold 150,000 shares of Cryolife stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $32.16, for a total value of $4,824,000.00. Following the completion of the sale, the chief executive officer now directly owns 380,970 shares of the company’s stock, valued at $12,251,995.20. The disclosure for this sale can be found here. Insiders sold 356,979 shares of company stock valued at $11,575,702 over the last ninety days. Insiders own 3.97% of the company’s stock.
Cryolife (NYSE:CRY) last issued its quarterly earnings data on Monday, August 6th. The medical equipment provider reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.03. Cryolife had a positive return on equity of 4.28% and a negative net margin of 2.34%. The business had revenue of $68.50 million during the quarter, compared to analysts’ expectations of $64.08 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The company’s revenue was up 43.2% on a year-over-year basis. As a group, research analysts anticipate that Cryolife Inc will post 0.31 EPS for the current year.
A number of equities research analysts have commented on the company. Northland Securities restated a “buy” rating and issued a $32.00 target price on shares of Cryolife in a research report on Tuesday, August 7th. Canaccord Genuity lifted their target price on Cryolife from $28.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. Finally, Zacks Investment Research upgraded Cryolife from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Monday, August 13th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $35.00.
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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