Artivion (NYSE:AORT) Upgraded at Jefferies Financial Group

Key Points

• Jefferies upgraded Artivion to “strong buy,” adding to a generally positive analyst view. MarketBeat reports a “Moderate Buy” consensus rating and an average price target of $42.86.
• Artivion reported quarterly earnings of $0.13 per share and revenue of $125.76 million, exceeding analysts’ $119.99 million revenue expectation. Analysts forecast full-year earnings of $0.45 per share.
• AORT shares opened at $23.12, below their 50-day and 200-day moving averages, while insiders sold 90,460 shares worth approximately $2.56 million over the prior 90 days.

Artivion (NYSE:AORT - Get Free Report) was upgraded by research analysts at Jefferies Financial Group to a "strong-buy" rating in a research report issued to clients and investors on Tuesday, Zacks reports.

AORT has been the topic of a number of other reports. Needham & Company LLC reiterated a "buy" rating and issued a $44.00 price objective on shares of Artivion in a report on Monday, July 20th. Canaccord Genuity Group increased their price objective on Artivion from $39.00 to $40.00 and gave the stock a "buy" rating in a research report on Tuesday, August 18th. Wall Street Zen cut Artivion from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Citigroup restated a "market outperform" rating on shares of Artivion in a research report on Tuesday, July 21st. Finally, Weiss Ratings downgraded Artivion from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Artivion presently has an average rating of "Moderate Buy" and a consensus target price of $42.86.

Artivion Price Performance

Shares of AORT stock opened at $23.12 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.47 and a quick ratio of 2.51. The company has a market capitalization of $1.13 billion, a PE ratio of 41.26 and a beta of 1.23. The firm's 50-day moving average is $24.69 and its two-hundred day moving average is $26.10. Artivion has a 12 month low of $19.16 and a 12 month high of $48.25.

Artivion (NYSE:AORT - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter. The business had revenue of $125.76 million during the quarter, compared to analysts' expectations of $119.99 million. Artivion had a negative net margin of 0.67% and a positive return on equity of 6.07%. Analysts predict that Artivion will post 0.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Jean F. Holloway sold 977 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $28.49, for a total value of $27,834.73. Following the sale, the senior vice president directly owned 184,118 shares of the company's stock, valued at approximately $5,245,521.82. The trade was a 0.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew M. Green sold 11,480 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $24.97, for a total transaction of $286,655.60. Following the completion of the sale, the senior vice president directly owned 40,160 shares in the company, valued at $1,002,795.20. This trade represents a 22.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 90,460 shares of company stock valued at $2,557,366 over the last 90 days. 6.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Artivion

Several large investors have recently made changes to their positions in AORT. Rockefeller Capital Management L.P. lifted its position in shares of Artivion by 150.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 665 shares of the company's stock worth $30,000 after purchasing an additional 399 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Artivion by 38.0% in the third quarter. Versant Capital Management Inc now owns 2,119 shares of the company's stock valued at $48,000 after purchasing an additional 584 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Artivion in the second quarter valued at approximately $103,000. Pictet Asset Management Holding SA grew its holdings in shares of Artivion by 25.6% in the first quarter. Pictet Asset Management Holding SA now owns 5,520 shares of the company's stock valued at $202,000 after purchasing an additional 1,125 shares in the last quarter. Finally, Commerce Bank purchased a new stake in Artivion during the 2nd quarter worth approximately $208,000. 86.37% of the stock is currently owned by institutional investors and hedge funds.

About Artivion

Artivion, Inc NYSE: AORT is a medical device company focused on products and services for cardiac and vascular surgery. The company develops, manufactures and distributes implantable devices, surgical adhesives and preserved human tissues used in the treatment of complex cardiovascular conditions.

Its product portfolio includes On-X mechanical heart valves and related repair technologies, BioGlue surgical adhesive, aortic stent grafts and other devices for aortic repair. Artivion also provides tissue preservation services and distributes cardiac and vascular allografts for use in surgical procedures.

The company was formerly known as CryoLife, Inc and adopted the Artivion name in 2021 to reflect its broader focus on cardiovascular and aortic therapies.

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