Needham & Company LLC Reaffirms “Hold” Rating for Cryolife (CRY)

Needham & Company LLC reissued their hold rating on shares of Cryolife (NYSE:CRY) in a research report report published on Sunday morning, AnalystRatings.com reports.

CRY has been the subject of a number of other research reports. Zacks Investment Research lowered Cryolife from a hold rating to a sell rating in a report on Wednesday, February 20th. Northland Securities reaffirmed a buy rating and set a $32.00 target price on shares of Cryolife in a report on Thursday, January 17th. Canaccord Genuity reaffirmed a buy rating and set a $35.00 target price (up previously from $32.00) on shares of Cryolife in a report on Wednesday, May 1st. Finally, TheStreet raised Cryolife from a c rating to a b- rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $31.91.

CRY stock opened at $30.02 on Friday. The company has a quick ratio of 3.69, a current ratio of 4.90 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 115.46 and a beta of 0.54. Cryolife has a twelve month low of $23.99 and a twelve month high of $36.05.

Cryolife (NYSE:CRY) last posted its earnings results on Tuesday, April 30th. The medical equipment provider reported $0.04 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.04. The business had revenue of $67.50 million during the quarter, compared to analyst estimates of $66.37 million. Cryolife had a positive return on equity of 3.79% and a negative net margin of 0.09%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 EPS. Sell-side analysts expect that Cryolife will post 0.31 EPS for the current fiscal year.

In other news, Director Ronald D. Mccall sold 6,200 shares of the business’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $29.26, for a total transaction of $181,412.00. Following the completion of the transaction, the director now owns 137,699 shares of the company’s stock, valued at $4,029,072.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James P. Mackin sold 50,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $31.31, for a total value of $1,565,500.00. Following the transaction, the chief executive officer now directly owns 220,731 shares of the company’s stock, valued at approximately $6,911,087.61. The disclosure for this sale can be found here. Insiders have sold 106,775 shares of company stock valued at $3,325,151 in the last three months. 4.40% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CRY. Perceptive Advisors LLC bought a new stake in Cryolife in the 1st quarter worth approximately $1,459,000. Schonfeld Strategic Advisors LLC bought a new stake in Cryolife in the 1st quarter worth approximately $7,086,000. Metropolitan Life Insurance Co NY lifted its position in Cryolife by 30.6% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 14,428 shares of the medical equipment provider’s stock worth $2,320,000 after buying an additional 3,379 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Cryolife by 75.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,965 shares of the medical equipment provider’s stock worth $57,000 after buying an additional 843 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its position in Cryolife by 8.8% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 553,254 shares of the medical equipment provider’s stock worth $16,138,000 after buying an additional 44,748 shares during the last quarter. 71.23% of the stock is owned by institutional investors.

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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