CryoLife (NYSE:CRY) Upgraded by Zacks Investment Research to “Hold”

CryoLife (NYSE:CRY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

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. “

Several other equities analysts also recently issued reports on CRY. TheStreet upgraded CryoLife from a “d+” rating to a “c-” rating in a research report on Wednesday, December 23rd. Needham & Company LLC boosted their target price on CryoLife from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 12th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $26.75.

Shares of CryoLife stock traded down $0.24 during midday trading on Wednesday, hitting $22.54. 90,537 shares of the company were exchanged, compared to its average volume of 176,672. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.35 and a quick ratio of 3.06. The firm has a market cap of $881.76 million, a P/E ratio of -59.31, a PEG ratio of 161.60 and a beta of 1.47. CryoLife has a 52 week low of $16.13 and a 52 week high of $26.60. The firm has a 50 day simple moving average of $23.76 and a 200-day simple moving average of $22.26.

CryoLife (NYSE:CRY) last posted its earnings results on Wednesday, February 10th. The medical equipment provider reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.17. The business had revenue of $67.90 million during the quarter, compared to the consensus estimate of $65.00 million. CryoLife had a positive return on equity of 1.86% and a negative net margin of 5.45%. Equities research analysts expect that CryoLife will post 0.01 earnings per share for the current year.

In other CryoLife news, SVP Jean F. Holloway sold 1,693 shares of the business’s stock in a transaction dated Wednesday, March 10th. The stock was sold at an average price of $25.28, for a total value of $42,799.04. Also, VP Dennis B. Maier sold 7,197 shares of the company’s stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $24.73, for a total value of $177,981.81. Following the transaction, the vice president now directly owns 23,211 shares of the company’s stock, valued at $574,008.03. The disclosure for this sale can be found here. 4.70% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its position in shares of CryoLife by 4.1% in the first quarter. First Trust Advisors LP now owns 114,196 shares of the medical equipment provider’s stock valued at $3,331,000 after purchasing an additional 4,541 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of CryoLife by 8.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,726 shares of the medical equipment provider’s stock valued at $254,000 after acquiring an additional 1,091 shares during the last quarter. ExodusPoint Capital Management LP raised its position in CryoLife by 16.8% during the 3rd quarter. ExodusPoint Capital Management LP now owns 14,354 shares of the medical equipment provider’s stock worth $265,000 after purchasing an additional 2,069 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of CryoLife in the 3rd quarter worth about $411,000. Finally, Point72 Asset Management L.P. bought a new position in shares of CryoLife in the 3rd quarter worth about $2,412,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

About CryoLife

CryoLife, Inc manufactures, processes, and distributes medical devices and implantable human tissues worldwide. It offers BioGlue, a polymer consisting of bovine blood protein and an agent for cross-linking proteins for cardiac, vascular, pulmonary, and general surgical applications; On-X prosthetic aortic and mitral heart valve, and On-X ascending aortic prosthesis; cardiac preservation services; PhotoFix, a bovine pericardial patch; and E-vita OPEN PLUS and E-vita OPEN NEO, a hybrid stent graft system.

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