Anteris Technologies Global (NASDAQ:AVR) Major Shareholder L1 Capital Pty Ltd Sells 23,000 Shares

Key Points

• L1 Capital sold 23,000 Anteris Technologies Global shares at an average price of $8.13, generating $186,990. Following the sale, it still owned 7.789 million shares, a 0.29% reduction in its stake.
• AVR shares traded near $8.12, with a market capitalization of about $790.5 million, after ranging between $2.99 and $11.06 over the past year.
• The company missed its latest quarterly estimates, reporting a $0.28 per-share loss and $0.49 million in revenue. Analysts nevertheless maintain a “Moderate Buy” consensus, with an average price target of $16.

Anteris Technologies Global Corp. (NASDAQ:AVR - Get Free Report) major shareholder L1 Capital Pty Ltd sold 23,000 shares of the business's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $8.13, for a total transaction of $186,990.00. Following the completion of the transaction, the insider directly owned 7,789,000 shares in the company, valued at $63,324,570. This trade represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Anteris Technologies Global Stock Performance

Anteris Technologies Global stock traded down $0.05 during mid-day trading on Tuesday, hitting $8.12. 776,846 shares of the company traded hands, compared to its average volume of 1,184,677. The stock has a market cap of $790.50 million, a price-to-earnings ratio of -3.62 and a beta of 1.65. Anteris Technologies Global Corp. has a one year low of $2.99 and a one year high of $11.06. The stock has a fifty day moving average price of $9.27 and a 200-day moving average price of $7.07.

Anteris Technologies Global (NASDAQ:AVR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Anteris Technologies Global had a negative net margin of 5,148.78% and a negative return on equity of 124.76%. The company had revenue of $0.49 million for the quarter, compared to analysts' expectations of $0.77 million. During the same quarter in the prior year, the firm earned ($0.61) EPS. Sell-side analysts predict that Anteris Technologies Global Corp. will post -1.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AVR shares. Wall Street Zen upgraded shares of Anteris Technologies Global from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Anteris Technologies Global in a report on Friday, May 29th. Finally, Barclays upped their target price on shares of Anteris Technologies Global from $17.00 to $18.00 and gave the company an "overweight" rating in a research note on Friday, May 15th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $16.00.

Institutional Trading of Anteris Technologies Global

Hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in shares of Anteris Technologies Global in the 2nd quarter worth about $6,350,000. Militia Capital Management LLC purchased a new stake in Anteris Technologies Global in the 1st quarter valued at about $3,663,000. Perceptive Advisors LLC lifted its holdings in shares of Anteris Technologies Global by 104.4% in the 1st quarter. Perceptive Advisors LLC now owns 3,425,476 shares of the company's stock worth $19,011,000 after buying an additional 1,750,000 shares during the period. Avidity Partners Management LP bought a new stake in shares of Anteris Technologies Global in the 1st quarter valued at about $832,000. Finally, Bank of America Corp DE increased its holdings in shares of Anteris Technologies Global by 12.6% in the 1st quarter. Bank of America Corp DE now owns 68,755 shares of the company's stock valued at $382,000 after acquiring an additional 7,688 shares during the period.

About Anteris Technologies Global

Anteris Technologies Global Corp. engages in the development and commercialization of medical devices for heart diseases. The company was founded in 1999 and is headquartered in Eagan, MN.

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