Artivion (NYSE:AORT) Reaches New 1-Year High – Here’s Why

Artivion, Inc. (NYSE:AORT) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $43.50 and last traded at $43.05, with a volume of 1637802 shares trading hands. The stock had previously closed at $40.95.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AORT. Canaccord Genuity Group boosted their target price on Artivion from $35.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Wall Street Zen raised Artivion from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective (up previously from $32.00) on shares of Artivion in a research note on Friday, August 8th. Oppenheimer reiterated an “outperform” rating on shares of Artivion in a report on Friday, August 8th. Finally, Citizens Jmp raised shares of Artivion to a “strong-buy” rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $39.80.

Artivion Stock Performance

The company has a 50 day moving average of $31.67 and a two-hundred day moving average of $28.29. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.78 and a quick ratio of 3.48. The company has a market capitalization of $2.07 billion, a PE ratio of -104.26 and a beta of 1.64.

Artivion (NYSE:AORT) last released its earnings results on Thursday, August 7th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.13. The firm had revenue of $112.97 million for the quarter, compared to the consensus estimate of $107.96 million. Artivion had a negative net margin of 4.43% and a positive return on equity of 5.70%. Artivion’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts predict that Artivion, Inc. will post 0.37 earnings per share for the current year.

Insider Activity

In related news, SVP Marshall S. Stanton sold 26,132 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $28.44, for a total transaction of $743,194.08. Following the sale, the senior vice president directly owned 79,200 shares of the company’s stock, valued at approximately $2,252,448. This represents a 24.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anthony B. Semedo sold 2,600 shares of Artivion stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $28.47, for a total transaction of $74,022.00. Following the completion of the transaction, the director directly owned 33,059 shares of the company’s stock, valued at $941,189.73. This trade represents a 7.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,406 shares of company stock worth $1,801,262. Insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Artivion

Institutional investors and hedge funds have recently made changes to their positions in the company. Legacy Advisors LLC bought a new position in Artivion in the first quarter worth approximately $28,000. MCF Advisors LLC grew its holdings in Artivion by 109.3% during the first quarter. MCF Advisors LLC now owns 1,176 shares of the company’s stock valued at $29,000 after purchasing an additional 614 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Artivion in the fourth quarter worth about $64,000. James Investment Research Inc. purchased a new stake in Artivion in the second quarter worth about $210,000. Finally, Atria Investments Inc bought a new position in shares of Artivion in the second quarter worth about $244,000. 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.