Brokerages Set Cryolife Inc (NYSE:CRY) Target Price at $33.67

Shares of Cryolife Inc (NYSE:CRY) have been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $33.67.

A number of brokerages have recently weighed in on CRY. First Analysis cut Cryolife from a “strong-buy” rating to an “outperform” rating in a research report on Friday, February 14th. ValuEngine raised Cryolife from a “hold” rating to a “buy” rating in a report on Friday, March 20th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective on shares of Cryolife in a report on Friday, February 14th. Finally, Canaccord Genuity lowered Cryolife from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $32.00 to $29.00 in a report on Friday, February 14th.

NYSE CRY traded up $1.30 on Monday, hitting $16.26. 698,100 shares of the stock traded hands, compared to its average volume of 284,658. The stock has a 50-day moving average of $24.46 and a 200 day moving average of $25.81. Cryolife has a twelve month low of $12.63 and a twelve month high of $33.00. The company has a market capitalization of $584.64 million, a P/E ratio of 406.60, a price-to-earnings-growth ratio of 54.18 and a beta of 0.86. The company has a current ratio of 4.15, a quick ratio of 2.97 and a debt-to-equity ratio of 0.83.

Cryolife (NYSE:CRY) last announced its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The firm had revenue of $69.70 million for the quarter, compared to analysts’ expectations of $72.95 million. Cryolife had a return on equity of 4.16% and a net margin of 0.62%. As a group, equities research analysts expect that Cryolife will post 0.14 earnings per share for the current year.

In related news, VP Jean F. Holloway sold 8,458 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $30.00, for a total value of $253,740.00. Following the completion of the transaction, the vice president now directly owns 67,322 shares of the company’s stock, valued at approximately $2,019,660. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of CRY. ArrowMark Colorado Holdings LLC grew its holdings in Cryolife by 35.6% in the 4th 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. Capital Research Global Investors boosted its stake in Cryolife by 18.8% during the 4th quarter. Capital Research Global Investors now owns 1,539,587 shares of the medical equipment provider’s stock valued at $41,707,000 after purchasing an additional 243,467 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Cryolife by 29.4% during the 4th quarter. William Blair Investment Management LLC now owns 709,138 shares of the medical equipment provider’s stock valued at $19,211,000 after purchasing an additional 161,059 shares in the last quarter. Penn Capital Management Co. Inc. boosted its stake in Cryolife by 180.2% during the 4th quarter. Penn Capital Management Co. Inc. now owns 171,006 shares of the medical equipment provider’s stock valued at $4,633,000 after purchasing an additional 109,986 shares in the last quarter. Finally, State Street Corp boosted its stake in Cryolife by 8.5% during the 4th quarter. State Street Corp now owns 1,301,591 shares of the medical equipment provider’s stock valued at $35,260,000 after purchasing an additional 102,513 shares in the last quarter. 75.04% of the stock is owned by institutional investors and hedge funds.

About Cryolife

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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