Cryolife Inc (NYSE:CRY) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,300,000 shares, an increase of 11.1% from the January 15th total of 1,170,000 shares. Based on an average daily trading volume, of 184,400 shares, the short-interest ratio is presently 7.0 days. Currently, 3.6% of the shares of the stock are short sold.
In related news, Director Ronald D. Mccall sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $24.56, for a total value of $98,240.00. Also, VP Jean F. Holloway sold 8,458 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $30.00, for a total value of $253,740.00. Following the completion of the sale, the vice president now owns 67,322 shares of the company’s stock, valued at $2,019,660. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,837 shares of company stock valued at $536,927. 4.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new stake in Cryolife during the fourth quarter worth $38,000. Cubist Systematic Strategies LLC acquired a new position in shares of Cryolife during the fourth quarter worth $805,000. Bank of New York Mellon Corp increased its holdings in shares of Cryolife by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 427,750 shares of the medical equipment provider’s stock worth $11,588,000 after buying an additional 11,479 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in shares of Cryolife by 35.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,018,649 shares of the medical equipment provider’s stock worth $27,595,000 after buying an additional 267,237 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Cryolife by 145.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 144,839 shares of the medical equipment provider’s stock worth $3,924,000 after buying an additional 85,934 shares in the last quarter. Hedge funds and other institutional investors own 76.75% of the company’s stock.
Cryolife (NYSE:CRY) last released its earnings results on Thursday, February 13th. The medical equipment provider reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. Cryolife had a return on equity of 3.50% and a net margin of 0.24%. The firm had revenue of $69.70 million during the quarter, compared to analysts’ expectations of $72.95 million. As a group, analysts predict that Cryolife will post 0.28 earnings per share for the current year.
Several equities research analysts recently issued reports on the company. ValuEngine cut Cryolife from a “buy” rating to a “hold” rating in a research note on Saturday, January 4th. Canaccord Genuity cut Cryolife from a “buy” rating to a “hold” rating and cut their target price for the stock from $32.00 to $29.00 in a research note on Friday. Oppenheimer initiated coverage on Cryolife in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $34.00 target price for the company. Needham & Company LLC upped their target price on Cryolife from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, First Analysis cut Cryolife from a “strong-buy” rating to an “outperform” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $32.00.
Cryolife Company Profile
CryoLife, Inc, together with its subsidiaries, manufactures, processes, and distributes medical devices and implantable human tissues for use in cardiac and vascular surgeries worldwide. The company operates in two segments, Medical Devices and Preservation Services. It offers BioGlue, an agent for cross-linking proteins for cardiac, vascular, pulmonary, and general surgical applications; On-X mechanical heart valves for aortic and mitral indications; cardiac preservation services; PhotoFix, a bovine pericardial patch for use in cardiac and vascular repairing activities; and PerClot, an absorbable powdered hemostat for use in surgical procedures, including cardiac, vascular, orthopedic, neurological, gynecological, ENT, and trauma surgeries.
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