Zacks Investment Research Downgrades CryoLife, Inc. (CRY) to Sell

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

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) “

CRY has been the subject of a number of other reports. BidaskClub cut shares of CryoLife from a “hold” rating to a “sell” rating in a research report on Tuesday. Northland Securities restated a “buy” rating and set a $23.50 price objective on shares of CryoLife in a research report on Friday, April 28th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $22.00.

Shares of CryoLife (NYSE:CRY) opened at 18.60 on Wednesday. The company has a market cap of $622.10 million, a PE ratio of 56.36 and a beta of 0.97. The company has a 50 day moving average of $19.35 and a 200-day moving average of $17.95. CryoLife has a 12-month low of $13.88 and a 12-month high of $20.30.

CryoLife (NYSE:CRY) last posted its quarterly earnings data on Monday, July 24th. The medical equipment provider reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. The company had revenue of $47.80 million during the quarter, compared to analysts’ expectations of $47.02 million. CryoLife had a net margin of 6.16% and a return on equity of 7.41%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. Equities research analysts anticipate that CryoLife will post $0.43 earnings per share for the current year.

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

Several large investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan boosted its stake in shares of CryoLife by 3.2% in 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 buying an additional 190 shares during the period. Mason Street Advisors LLC boosted its stake in shares of CryoLife by 7.4% in the first quarter. Mason Street Advisors LLC now owns 6,324 shares of the medical equipment provider’s stock worth $105,000 after buying an additional 438 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of CryoLife by 80.8% in the second quarter. State of Alaska Department of Revenue now owns 5,387 shares of the medical equipment provider’s stock worth $107,000 after buying an additional 2,407 shares during the period. First Mercantile Trust Co. boosted its stake in shares of CryoLife by 5.6% in the second quarter. First Mercantile Trust Co. now owns 5,448 shares of the medical equipment provider’s stock worth $109,000 after buying an additional 291 shares during the period. Finally, Creative Planning boosted its stake in shares of CryoLife by 3.0% in the second quarter. Creative Planning now owns 6,806 shares of the medical equipment provider’s stock worth $136,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 68.15% 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.