Wall Street Zen downgraded shares of Artivion (NYSE:AORT – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday.
A number of other research firms also recently weighed in on AORT. Citigroup reiterated a “market outperform” rating on shares of Artivion in a research note on Tuesday, July 21st. Citizens Jmp reduced their price objective on shares of Artivion from $53.00 to $48.00 and set a “market outperform” rating for the company in a report on Friday, May 8th. Canaccord Genuity Group set a $39.00 target price on shares of Artivion in a research report on Friday, August 7th. Stifel Nicolaus set a $45.00 target price on shares of Artivion in a research note on Monday, June 1st. Finally, Weiss Ratings lowered shares of Artivion from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Artivion currently has a consensus rating of “Moderate Buy” and an average price target of $44.67.
View Our Latest Analysis on AORT
Artivion Stock Down 2.7%
Artivion (NYSE:AORT – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.13 EPS for the quarter. The company had revenue of $125.76 million during the quarter, compared to the consensus estimate of $119.99 million. Artivion had a positive return on equity of 6.07% and a negative net margin of 0.67%. On average, equities research analysts expect that Artivion will post 0.45 earnings per share for the current year.
Insider Activity
In related news, SVP Andrew M. Green sold 44,001 shares of Artivion stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $20.70, for a total transaction of $910,820.70. Following the completion of the transaction, the senior vice president directly owned 60,259 shares of the company’s stock, valued at $1,247,361.30. This trade represents a 42.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jean F. Holloway sold 977 shares of Artivion stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $28.49, for a total transaction of $27,834.73. Following the completion of the transaction, the senior vice president owned 184,118 shares of the company’s stock, valued at $5,245,521.82. This trade represents a 0.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 6.30% of the company’s stock.
Hedge Funds Weigh In On Artivion
A number of institutional investors have recently modified their holdings of AORT. BlackRock Inc. bought a new stake in shares of Artivion during the second quarter valued at approximately $149,965,000. Conestoga Capital Advisors LLC bought a new position in Artivion in the 1st quarter worth approximately $43,044,000. Summit Partners Public Asset Management LLC bought a new position in Artivion in the 4th quarter worth approximately $39,401,000. Invesco Ltd. lifted its holdings in Artivion by 211.9% during the 4th quarter. Invesco Ltd. now owns 1,101,239 shares of the company’s stock worth $50,228,000 after buying an additional 748,119 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in Artivion during the 2nd quarter worth $11,717,000. 86.37% of the stock is owned by institutional investors.
Artivion Company Profile
Artivion, Inc (NYSE: AORT) is a global medical technology company that develops, manufactures and markets implantable tissue products and surgical devices for cardiac and vascular surgery. The company’s portfolio includes biologic implants derived from human and animal tissue, such as allografts and xenografts, as well as synthetic scaffolds and surgical adhesives. These products are designed to repair, reinforce or replace damaged cardiovascular and thoracic tissues during procedures such as aortic repair, heart valve surgery and vascular reconstruction.
Originally founded in 1984 under the name CryoLife, the company rebranded as Artivion in early 2022 to reflect its broader mission in cardiovascular innovation.
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