Essex Investment Management Co. LLC boosted its position in shares of CryoLife, Inc. (NYSE:CRY) by 21.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,849 shares of the medical equipment provider’s stock after buying an additional 21,206 shares during the period. Essex Investment Management Co. LLC owned 0.35% of CryoLife worth $2,351,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State of Alaska Department of Revenue raised its position 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 last quarter. Municipal Employees Retirement System of Michigan raised its position 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 last quarter. Mason Street Advisors LLC raised its position 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 last quarter. Creative Planning raised its position 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 last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of CryoLife during the first quarter worth $172,000. Hedge funds and other institutional investors own 69.22% of the company’s stock.
CryoLife, Inc. (CRY) opened at 19.00 on Friday. The company has a 50-day moving average price of $19.21 and a 200 day moving average price of $17.97. CryoLife, Inc. has a 52-week low of $14.02 and a 52-week high of $20.30. The stock has a market cap of $635.47 million, a price-to-earnings ratio of 57.58 and a beta of 0.97.
CryoLife (NYSE:CRY) last released its quarterly earnings data on Monday, July 24th. The medical equipment provider reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. The company had revenue of $47.80 million during the quarter, compared to the consensus estimate of $47.02 million. CryoLife had a net margin of 6.16% and a return on equity of 7.41%. CryoLife’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, analysts expect that CryoLife, Inc. will post $0.43 earnings per share for the current year.
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A number of brokerages have recently weighed in on CRY. BidaskClub lowered CryoLife from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded CryoLife from a “sell” rating to a “hold” rating in a research report on Monday. Finally, 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $22.00.
In other CryoLife 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 owns 112,282 shares in the company, valued at approximately $2,245,640. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by corporate insiders.
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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