CryoLife, Inc. (NYSE:CRY) Downgraded by Zacks Investment Research to “Sell”

CryoLife, Inc. (NYSE:CRY) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Wednesday, August 2nd.

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) “

Several other research firms also recently weighed in on CRY. Northland Securities restated a “buy” rating and issued a $23.50 target price on shares of CryoLife in a research report on Friday, April 28th. BidaskClub downgraded CryoLife from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $22.00.

CryoLife (CRY) traded up 0.27% during mid-day trading on Wednesday, hitting $18.40. 75,296 shares of the stock traded hands. The firm has a market cap of $615.41 million, a P/E ratio of 55.76 and a beta of 0.97. CryoLife has a 52-week low of $14.03 and a 52-week high of $20.30. The firm’s 50-day moving average is $19.30 and its 200 day moving average is $17.96.

CryoLife (NYSE:CRY) last released its earnings results on Monday, July 24th. The medical equipment provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $47.80 million for the quarter, compared to the consensus estimate of $47.02 million. CryoLife had a return on equity of 7.41% and a net margin of 6.16%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share. Equities analysts predict that CryoLife will post $0.43 EPS for the current fiscal year.

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In other CryoLife news, VP Amy Horton sold 9,577 shares of CryoLife stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $20.00, for a total value of $191,540.00. Following the sale, the vice president now owns 112,282 shares in the company, valued at $2,245,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.00% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of CRY. Bank of New York Mellon Corp increased its stake in CryoLife by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 342,347 shares of the medical equipment provider’s stock valued at $5,699,000 after buying an additional 9,165 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in CryoLife by 8.5% in the first quarter. Great West Life Assurance Co. Can now owns 39,491 shares of the medical equipment provider’s stock valued at $655,000 after buying an additional 3,077 shares in the last quarter. Wells Fargo & Company MN increased its stake in CryoLife by 16.5% in the first quarter. Wells Fargo & Company MN now owns 31,042 shares of the medical equipment provider’s stock valued at $517,000 after buying an additional 4,399 shares in the last quarter. Essex Investment Management Co. LLC increased its stake in CryoLife by 12.7% in the first quarter. Essex Investment Management Co. LLC now owns 96,643 shares of the medical equipment provider’s stock valued at $1,609,000 after buying an additional 10,904 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in CryoLife by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the medical equipment provider’s stock valued at $183,000 after buying an additional 200 shares in the last quarter. 68.13% of the stock is owned by institutional investors and hedge funds.

About CryoLife

CryoLife, Inc (CryoLife) is a medical device manufacturer and processor, and is engaged in the distribution of medical devices and implantable human tissues used in cardiac surgical procedures. The Company operates through two segments: Medical Devices and Preservation Services. The Medical Devices segment includes medical devices, such as BioGlue Surgical Adhesive, BioFoam Surgical Matrix, On-X Life Technologies Holdings, Inc valves and surgical products, CardioGenesis cardiac laser therapy product line, PerClot and PhotoFix.

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