Zacks Investment Research cut shares of CryoLife Inc. (NYSE:CRY) from a strong-buy rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “CryoLife, Inc. is the leader in the development and commercialization of implantable living human tissues for use in cardiovascular, vascular, and orthopaedic surgeries throughout the United States and Canada. The company’s BioGlue surgical adhesive, the company marked in the European Union for use in vascular and pulmonary sealing and repair, is distributed throughout Europe. The company also manufactures CryoLife- O’Brien and CryoLife-Ross stentless porcine heart valves which are distributed within the European Community. (PRESS RELEASE) “

A number of other analysts have also recently weighed in on the company. Piper Jaffray Cos. reiterated an overweight rating and issued a $16.00 price target on shares of CryoLife in a research report on Wednesday, July 27th. Canaccord Genuity reiterated a buy rating on shares of CryoLife in a research report on Tuesday, July 26th. Finally, Lake Street Capital assumed coverage on CryoLife in a research report on Wednesday, June 15th. They issued a buy rating and a $15.00 price target on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. CryoLife presently has an average rating of Buy and an average price target of $15.00.

Shares of CryoLife (NYSE:CRY) opened at 16.95 on Tuesday. The stock’s 50 day moving average is $17.12 and its 200-day moving average is $13.58. The firm has a market cap of $578.16 million, a P/E ratio of 54.33 and a beta of 1.05. CryoLife has a 52-week low of $8.94 and a 52-week high of $18.64.

CryoLife (NYSE:CRY) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. CryoLife had a return on equity of 8.15% and a net margin of 5.80%. The firm had revenue of $47.10 million for the quarter, compared to analysts’ expectations of $35.50 million. During the same period in the prior year, the business posted $0.03 earnings per share. The business’s revenue was up 32.6% compared to the same quarter last year. Equities analysts anticipate that CryoLife will post $0.34 earnings per share for the current fiscal year.

In related news, Director C Elkins Ronald sold 2,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $14.00, for a total transaction of $28,000.00. Following the sale, the director now owns 103,586 shares in the company, valued at approximately $1,450,204. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.08% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its stake in CryoLife by 13.4% in the second quarter. BlackRock Fund Advisors now owns 1,863,006 shares of the company’s stock worth $22,002,000 after buying an additional 220,391 shares during the period. Chartwell Investment Partners LLC bought a new stake in CryoLife during the second quarter worth approximately $16,488,000. Vanguard Group Inc. raised its stake in CryoLife by 4.2% in the second quarter. Vanguard Group Inc. now owns 1,306,807 shares of the company’s stock worth $15,433,000 after buying an additional 53,007 shares during the period. Macquarie Group Ltd. raised its stake in CryoLife by 18.5% in the second quarter. Macquarie Group Ltd. now owns 1,014,361 shares of the company’s stock worth $11,980,000 after buying an additional 158,177 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in CryoLife by 8.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 912,648 shares of the company’s stock worth $10,778,000 after buying an additional 71,163 shares during the period. Hedge funds and other institutional investors own 58.13% of the company’s stock.

About CryoLife

CryoLife, Inc (CryoLife) is engaged in medical device manufacturing and distribution, and in the processing and distribution of implantable human tissues for cardiac and vascular surgeries. The Company operates in two segments: Medical Devices and Preservation Services. The Medical Devices segment sells BioGlue, BioFoam, PerClot, CardioGenesis cardiac laser therapy, Hemodialysis Reliable Outflow (HeRO) Graft, and ProCol Vascular Bioprosthesis (ProCol).

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