Connors Investor Services Inc. Decreases Stake in Cryolife Inc (NYSE:CRY)

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Connors Investor Services Inc. reduced its stake in shares of Cryolife Inc (NYSE:CRY) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,756 shares of the medical equipment provider’s stock after selling 572 shares during the period. Connors Investor Services Inc.’s holdings in Cryolife were worth $2,447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its holdings in shares of Cryolife by 1,945.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,404 shares of the medical equipment provider’s stock worth $216,000 after purchasing an additional 7,042 shares during the period. SG Americas Securities LLC boosted its holdings in Cryolife by 205.4% in the 1st quarter. SG Americas Securities LLC now owns 12,707 shares of the medical equipment provider’s stock worth $371,000 after acquiring an additional 8,546 shares during the period. Rhumbline Advisers boosted its holdings in 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 acquiring an additional 612 shares during the period. Comerica Bank boosted its holdings in Cryolife by 3.1% in the 1st quarter. Comerica Bank now owns 33,816 shares of the medical equipment provider’s stock worth $1,031,000 after acquiring an additional 1,020 shares during the period. Finally, Texas Permanent School Fund boosted its holdings in Cryolife by 3.9% in the 1st quarter. Texas Permanent School Fund now owns 23,126 shares of the medical equipment provider’s stock worth $675,000 after acquiring an additional 870 shares during the period. Institutional investors own 70.71% of the company’s stock.

A number of research firms have weighed in on CRY. ValuEngine upgraded Cryolife from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 12th. Canaccord Genuity set a $35.00 target price on Cryolife and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, TheStreet cut Cryolife from a “b-” rating to a “c+” rating in a research note on Wednesday, May 22nd. Two equities 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’s stock. The company has an average rating of “Buy” and an average target price of $31.91.

Shares of NYSE:CRY traded up $0.09 on Thursday, hitting $29.42. The company’s stock had a trading volume of 16,094 shares, compared to its average volume of 187,477. Cryolife Inc has a 12 month low of $23.99 and a 12 month high of $36.05. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 113.15 and a beta of 0.65. The stock’s 50-day moving average is $27.20 and its two-hundred day moving average is $29.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.82 and a current ratio of 5.03.

Cryolife (NYSE:CRY) last released its quarterly earnings results on Tuesday, July 30th. The medical equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.03. Cryolife had a return on equity of 3.85% and a net margin of 0.87%. The company had revenue of $71.14 million during the quarter, compared to analysts’ expectations of $70.79 million. During the same quarter in the prior year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts expect that Cryolife Inc will post 0.29 earnings per share for the current fiscal year.

Cryolife 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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Institutional Ownership by Quarter for Cryolife (NYSE:CRY)

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