Canaccord Genuity Group Initiates Coverage on Artivion (NYSE:AORT)

Canaccord Genuity Group initiated coverage on shares of Artivion (NYSE:AORT) in a note issued to investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $35.00 price target on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 22.04% from the company’s previous close.

Several other research firms have also recently weighed in on AORT. JMP Securities restated a “market outperform” rating and issued a $33.00 price objective on shares of Artivion in a research report on Tuesday, May 6th. Stifel Nicolaus lowered their price target on Artivion from $33.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Citizens Jmp upgraded shares of Artivion to a “strong-buy” rating in a report on Tuesday, May 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $32.00 price objective on shares of Artivion in a research note on Tuesday, May 6th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $32.00.

Artivion Trading Up 1.5%

Artivion stock opened at $28.68 on Tuesday. Artivion has a 12 month low of $21.97 and a 12 month high of $32.33. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -1,433.95 and a beta of 1.62. The business has a 50 day moving average price of $26.71 and a two-hundred day moving average price of $27.45. The company has a quick ratio of 1.33, a current ratio of 1.88 and a debt-to-equity ratio of 0.71.

Artivion (NYSE:AORT) last released its quarterly earnings data on Monday, May 5th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.06). Artivion had a positive return on equity of 5.15% and a negative net margin of 0.22%. The company had revenue of $98.98 million for the quarter, compared to analyst estimates of $94.81 million. As a group, equities analysts forecast that Artivion will post 0.37 EPS for the current year.

Insider Buying and Selling

In other news, SVP Marshall S. Stanton sold 26,132 shares of the company’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $28.44, for a total value of $743,194.08. Following the completion of the sale, the senior vice president now owns 79,200 shares in the company, valued at $2,252,448. This represents a 24.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jean F. Holloway sold 9,926 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $29.00, for a total transaction of $287,854.00. Following the sale, the senior vice president now owns 187,258 shares of the company’s stock, valued at $5,430,482. This trade represents a 5.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,954 shares of company stock worth $1,666,025 in the last ninety days. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AORT. Diker Management LLC purchased a new position in shares of Artivion during the first quarter worth approximately $369,000. Fred Alger Management LLC bought a new position in shares of Artivion during the first quarter valued at about $2,969,000. Parkman Healthcare Partners LLC bought a new stake in shares of Artivion in the 1st quarter valued at about $2,744,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Artivion by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,591 shares of the company’s stock valued at $580,000 after acquiring an additional 1,032 shares during the period. Finally, Bridger Management LLC bought a new position in Artivion during the 1st quarter worth approximately $1,580,000. Institutional investors own 86.37% of the company’s stock.

About Artivion

Artivion, Inc manufactures, processes, and distributes medical devices and implantable human tissues worldwide. The company provides BioGlue, a polymer consisting of bovine blood protein and an agent for cross-linking proteins for cardiac, vascular, neurologic, and pulmonary procedures; cardiac preservation services; PhotoFix, a bovine pericardial patch; and aortic arch stent grafts including E-vita Open Plus and E-vita Open Neo.