Cryolife (NYSE:CRY) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Cryolife (NYSE:CRY) in a research note published on Tuesday, TipRanks reports. The brokerage issued a buy rating and a $29.00 price objective on the medical equipment provider’s stock.

CRY has been the subject of several other research reports. Oppenheimer reduced their price objective on shares of Cryolife from $34.00 to $25.00 in a research note on Thursday, April 2nd. ValuEngine upgraded shares of Cryolife from a hold rating to a buy rating in a report on Friday, March 20th. Lake Street Capital lifted their target price on shares of Cryolife from $22.00 to $27.00 and gave the stock a buy rating in a report on Friday, May 1st. Finally, Zacks Investment Research downgraded shares of Cryolife from a hold rating to a sell rating in a report on Monday, May 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $27.40.

CRY stock opened at $19.17 on Tuesday. The company has a current ratio of 4.90, a quick ratio of 3.66 and a debt-to-equity ratio of 0.94. Cryolife has a 1 year low of $12.63 and a 1 year high of $33.00. The company has a fifty day simple moving average of $22.01 and a 200 day simple moving average of $23.85. The firm has a market cap of $682.35 million, a PE ratio of -147.46 and a beta of 1.37.

Cryolife (NYSE:CRY) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.10). Cryolife had a negative net margin of 1.69% and a positive return on equity of 2.55%. The business had revenue of $66.43 million during the quarter, compared to analyst estimates of $66.11 million. During the same period in the previous year, the firm posted $0.04 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, analysts forecast that Cryolife will post -0.17 EPS for the current fiscal year.

In other news, Director Ronald D. Mccall sold 1,719 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $22.82, for a total transaction of $39,227.58. Following the transaction, the director now owns 127,766 shares in the company, valued at approximately $2,915,620.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.70% of the company’s stock.

Several large investors have recently bought and sold shares of CRY. Capital Research Global Investors increased its holdings in shares of Cryolife by 91.5% during the 1st quarter. Capital Research Global Investors now owns 2,947,990 shares of the medical equipment provider’s stock worth $49,880,000 after purchasing an additional 1,408,403 shares during the period. GW&K Investment Management LLC bought a new position in shares of Cryolife during the 1st quarter worth about $9,138,000. Loomis Sayles & Co. L P increased its holdings in shares of Cryolife by 41.2% during the 1st quarter. Loomis Sayles & Co. L P now owns 1,024,891 shares of the medical equipment provider’s stock worth $17,341,000 after purchasing an additional 299,053 shares during the period. ArrowMark Colorado Holdings LLC increased its holdings in shares of Cryolife by 35.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,018,649 shares of the medical equipment provider’s stock worth $27,595,000 after purchasing an additional 267,237 shares during the period. Finally, Wasatch Advisors Inc. increased its holdings in shares of Cryolife by 32.0% during the 1st quarter. Wasatch Advisors Inc. now owns 1,047,728 shares of the medical equipment provider’s stock worth $17,728,000 after purchasing an additional 253,734 shares during the period. Institutional investors own 81.97% of the company’s stock.

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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Analyst Recommendations for Cryolife (NYSE:CRY)

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