Cryolife (CRY) Rating Reiterated by Needham & Company LLC

Cryolife (NYSE:CRY)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a note issued to investors on Sunday, AnalystRatings.com reports.

A number of other research analysts have also recently commented on the stock. Northland Securities restated a “buy” rating and issued a $32.00 price target on shares of Cryolife in a report on Thursday, January 17th. Zacks Investment Research cut shares of Cryolife from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. Canaccord Genuity restated a “buy” rating and issued a $35.00 price target (up from $32.00) on shares of Cryolife in a report on Wednesday, May 1st. Finally, TheStreet upgraded shares of 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, two have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $31.91.

NYSE CRY opened at $29.88 on Friday. The company has a current ratio of 4.90, a quick ratio of 3.69 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.12 billion, a PE ratio of 114.92 and a beta of 0.54. Cryolife has a 12 month low of $23.99 and a 12 month high of $36.05.

Cryolife (NYSE:CRY) last posted its quarterly earnings results on Tuesday, April 30th. The medical equipment provider reported $0.04 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.04. The firm had revenue of $67.50 million for the quarter, compared to analysts’ expectations of $66.37 million. Cryolife had a negative net margin of 0.09% and a positive return on equity of 3.79%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share. As a group, equities research analysts anticipate that Cryolife will post 0.31 earnings per share for the current year.

In other Cryolife news, VP Amy Horton sold 6,666 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $29.15, for a total transaction of $194,313.90. Following the transaction, the vice president now directly owns 103,713 shares in the company, valued at approximately $3,023,233.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronald D. Mccall sold 6,200 shares of the 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 transaction, the director now owns 137,699 shares in the company, valued at $4,029,072.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,775 shares of company stock worth $3,325,151. 4.40% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of CRY. Bank of New York Mellon Corp lifted its position in shares of Cryolife by 11.9% during the third quarter. Bank of New York Mellon Corp now owns 459,275 shares of the medical equipment provider’s stock valued at $16,166,000 after buying an additional 48,994 shares during the last quarter. MetLife Investment Advisors LLC lifted its position in shares of Cryolife by 49.0% during the third quarter. MetLife Investment Advisors LLC now owns 25,663 shares of the medical equipment provider’s stock valued at $903,000 after buying an additional 8,443 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of Cryolife by 3.5% during the third quarter. Teachers Advisors LLC now owns 66,331 shares of the medical equipment provider’s stock valued at $2,335,000 after buying an additional 2,262 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Cryolife by 8.7% during the third quarter. Legal & General Group Plc now owns 72,486 shares of the medical equipment provider’s stock valued at $2,553,000 after buying an additional 5,786 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Cryolife by 2.7% during the third quarter. Vanguard Group Inc. now owns 2,017,304 shares of the medical equipment provider’s stock valued at $71,009,000 after buying an additional 53,676 shares during the last quarter. Institutional investors own 71.48% of the company’s stock.

About Cryolife

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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