CryoLife, Inc. (CRY) Price Target Increased to $26.00 by Analysts at Lake Street Capital

CryoLife, Inc. (NYSE:CRY) had its price objective increased by Lake Street Capital to $26.00 in a research report sent to investors on Wednesday. Lake Street Capital currently has a buy rating on the medical equipment provider’s stock.

CRY has been the subject of a number of other research reports. BidaskClub cut CryoLife from a hold rating to a sell rating in a research report on Tuesday, August 1st. Zacks Investment Research cut CryoLife from a buy rating to a sell rating in a research report on Wednesday, August 2nd. Finally, Canaccord Genuity restated a buy rating and issued a $25.00 price target on shares of CryoLife in a research report on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $23.63.

Shares of CryoLife (CRY) traded up 6.50% on Wednesday, reaching $21.30. The company’s stock had a trading volume of 402,406 shares. CryoLife has a 12-month low of $14.02 and a 12-month high of $24.00. The company has a market capitalization of $712.40 million, a price-to-earnings ratio of 64.55 and a beta of 0.92. The company’s 50-day moving average is $21.84 and its 200 day moving average is $19.17.

CryoLife (NYSE:CRY) last issued its quarterly earnings results on Monday, July 24th. The medical equipment provider reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $47.80 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.13 earnings per share. Equities analysts anticipate that CryoLife will post $0.43 earnings per share for the current fiscal year.

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In related news, CEO James P. Mackin sold 43,050 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $22.09, for a total transaction of $950,974.50. Following the completion of the sale, the chief executive officer now owns 398,399 shares in the company, valued at $8,800,633.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Benson sold 2,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $22.80, for a total value of $45,600.00. The disclosure for this sale can be found here. Insiders have sold 171,050 shares of company stock valued at $3,769,825 in the last quarter. 6.00% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System grew its position in shares of CryoLife by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the medical equipment provider’s stock worth $221,000 after purchasing an additional 100 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of CryoLife by 3.2% during the first quarter. Municipal Employees Retirement System of Michigan now owns 6,150 shares of the medical equipment provider’s stock worth $102,000 after purchasing an additional 190 shares in the last quarter. Arizona State Retirement System grew its position in shares of CryoLife by 1.4% during the first quarter. Arizona State Retirement System now owns 14,054 shares of the medical equipment provider’s stock worth $234,000 after purchasing an additional 200 shares in the last quarter. Creative Planning grew its position in shares of CryoLife by 3.0% during the second quarter. Creative Planning now owns 6,806 shares of the medical equipment provider’s stock worth $136,000 after purchasing an additional 200 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of CryoLife by 0.9% during the second quarter. Wells Fargo & Company MN now owns 31,313 shares of the medical equipment provider’s stock worth $624,000 after purchasing an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 68.44% of the company’s stock.

CryoLife Company Profile

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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