Cryolife (CRY) Lowered to C+ at TheStreet

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Cryolife (NYSE:CRY) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c+” rating in a report issued on Wednesday, TheStreetRatingsTable reports.

A number of other analysts have also weighed in on CRY. ValuEngine lowered shares of Cryolife from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cryolife in a research note on Sunday, May 12th. Zacks Investment Research lowered shares of Cryolife from a “buy” rating to a “hold” rating in a research note on Thursday, January 31st. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $35.00 price objective (up from $32.00) on shares of Cryolife in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $31.91.

NYSE CRY opened at $27.98 on Wednesday. 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 $1.09 billion, a PE ratio of 107.62 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, CEO James P. Mackin sold 50,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were 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 of the company’s stock, valued at $6,911,087.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jean F. Holloway sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $31.50, for a total transaction of $315,000.00. Following the sale, the vice president now directly owns 68,366 shares of the company’s stock, valued at $2,153,529. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,575 shares of company stock valued at $3,143,739. 4.40% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in 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. 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. 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. Arizona State Retirement System lifted its position in shares of Cryolife by 6.7% during the fourth quarter. Arizona State Retirement System now owns 52,376 shares of the medical equipment provider’s stock valued at $1,486,000 after buying an additional 3,283 shares during the last quarter. Finally, Advisors Asset Management Inc. purchased a new stake in shares of Cryolife during the fourth quarter valued at about $32,000. 70.43% of the stock is owned by institutional investors and hedge funds.

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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