Penn Capital Management Co. Inc. grew its position in Cryolife Inc (NYSE:CRY) by 738.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,735 shares of the medical equipment provider’s stock after buying an additional 53,495 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Cryolife were worth $1,772,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Mason Street Advisors LLC lifted its holdings in shares of Cryolife by 3.6% in the 1st quarter. Mason Street Advisors LLC now owns 10,938 shares of the medical equipment provider’s stock worth $319,000 after buying an additional 376 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Cryolife by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 24,190 shares of the medical equipment provider’s stock worth $687,000 after buying an additional 532 shares during the period. Legal & General Group Plc lifted its holdings in shares of Cryolife by 0.8% in the 4th quarter. Legal & General Group Plc now owns 73,074 shares of the medical equipment provider’s stock worth $2,066,000 after buying an additional 588 shares during the period. Rhumbline Advisers lifted its holdings in shares of Cryolife by 0.6% in the 1st quarter. Rhumbline Advisers now owns 100,456 shares of the medical equipment provider’s stock worth $2,930,000 after buying an additional 612 shares during the period. Finally, United Services Automobile Association lifted its holdings in shares of Cryolife by 7.7% in the 4th quarter. United Services Automobile Association now owns 11,458 shares of the medical equipment provider’s stock worth $325,000 after buying an additional 822 shares during the period. Institutional investors and hedge funds own 71.23% of the company’s stock.
Shares of NYSE CRY opened at $29.32 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.90 and a quick ratio of 3.69. The firm has a market cap of $1.09 billion, a P/E ratio of 112.77 and a beta of 0.54. Cryolife Inc has a 1-year low of $23.99 and a 1-year high of $36.05.
In related news, CEO James P. Mackin sold 50,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $31.31, for a total transaction of $1,565,500.00. Following the completion of the sale, the chief executive officer now directly owns 220,731 shares in the company, valued at approximately $6,911,087.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald D. Mccall sold 6,200 shares of the company’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $29.26, for a total value of $181,412.00. Following the sale, the director now owns 137,699 shares of the company’s stock, valued at $4,029,072.74. The disclosure for this sale can be found here. Insiders have sold a total of 106,775 shares of company stock valued at $3,325,151 over the last 90 days. 4.40% of the stock is currently owned by company insiders.
CRY has been the subject of several research reports. Canaccord Genuity reiterated a “buy” rating and issued a $35.00 target price (up from $32.00) on shares of Cryolife in a report on Wednesday, May 1st. Needham & Company LLC initiated coverage on Cryolife in a report on Wednesday, February 27th. They issued a “hold” rating and a $29.65 target price for the company. Zacks Investment Research upgraded Cryolife from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Monday, February 4th. TheStreet upgraded Cryolife from a “c” rating to a “b-” rating in a report on Wednesday, May 1st. Finally, ValuEngine cut Cryolife from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Cryolife presently has an average rating of “Buy” and an average price target of $31.91.
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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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