CryoLife Inc. (CRY) Sees Unusually-High Trading Volume
CryoLife Inc. (NYSE:CRY) saw strong trading volume on Thursday . 348,609 shares changed hands during mid-day trading, an increase of 14% from the previous session’s volume of 305,958 shares.The stock last traded at $15.18 and had previously closed at $14.70.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of CryoLife from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Piper Jaffray Cos. restated an “overweight” rating and issued a $16.00 price objective on shares of CryoLife in a research report on Wednesday, July 27th. Ladenburg Thalmann cut shares of CryoLife from a “buy” rating to a “neutral” rating and set a $12.00 price objective on the stock. in a research report on Thursday, April 28th. They noted that the move was a valuation call. Lake Street Capital initiated coverage on shares of CryoLife in a research report on Wednesday, June 15th. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, Canaccord Genuity restated a “buy” rating on shares of CryoLife in a research report on Monday, June 20th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $14.20.
The firm has a market cap of $522.91 million and a price-to-earnings ratio of 49.13. The company’s 50-day moving average price is $12.87 and its 200 day moving average price is $11.56.
CryoLife (NYSE:CRY) last released its quarterly earnings results on Monday, July 25th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.11. During the same quarter in the prior year, the company earned $0.03 EPS. The firm earned $47.10 million during the quarter, compared to analyst estimates of $35.50 million. The business’s revenue was up 32.6% on a year-over-year basis. On average, equities analysts predict that CryoLife Inc. will post $0.24 EPS for the current fiscal year.
In related news, Director C Elkins Ronald sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $14.00, for a total value of $28,000.00. Following the sale, the director now owns 103,586 shares of the company’s stock, valued at approximately $1,450,204. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ronald D. Mccall sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $11.56, for a total value of $115,600.00. Following the completion of the sale, the director now directly owns 156,248 shares in the company, valued at approximately $1,806,226.88. The disclosure for this sale can be found here.
An institutional investor recently raised its position in CryoLife stock. Morgan Stanley increased its position in shares of CryoLife Inc. (NYSE:CRY) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,605,563 shares of the company’s stock after buying an additional 21,067 shares during the period. Morgan Stanley owned approximately 5.64% of CryoLife worth $17,308,000 at the end of the most recent quarter.
CryoLife, Inc (CryoLife) is engaged in medical device manufacturing and distribution, and in the processing and distribution of implantable human tissues for cardiac and vascular surgeries. The Company operates in two segments: Medical Devices and Preservation Services. The Medical Devices segment sells BioGlue, BioFoam, PerClot, CardioGenesis cardiac laser therapy, Hemodialysis Reliable Outflow (HeRO) Graft, and ProCol Vascular Bioprosthesis (ProCol).
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