Short Interest in Artivion, Inc. (NYSE:AORT) Declines By 63.6%

Artivion, Inc. (NYSE:AORT - Get Free Report) was the recipient of a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 1,580,000 shares, a decrease of 63.6% from the May 15th total of 4,340,000 shares. Based on an average daily volume of 462,200 shares, the days-to-cover ratio is currently 3.4 days. Currently, 4.0% of the shares of the company are short sold.

Artivion Stock Down 1.8%

Shares of AORT traded down $0.53 during mid-day trading on Friday, reaching $28.21. 242,570 shares of the stock traded hands, compared to its average volume of 334,936. Artivion has a 12-month low of $21.97 and a 12-month high of $32.33. The company has a quick ratio of 1.33, a current ratio of 1.88 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -1,410.50 and a beta of 1.62. The stock has a fifty day simple moving average of $26.46 and a 200 day simple moving average of $27.48.

Artivion (NYSE:AORT - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.06). The company had revenue of $98.98 million for the quarter, compared to analyst estimates of $94.81 million. Artivion had a positive return on equity of 5.15% and a negative net margin of 0.22%. Sell-side analysts expect that Artivion will post 0.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Needham & Company LLC reissued a "buy" rating and issued a $32.00 price objective on shares of Artivion in a research note on Tuesday, May 6th. Citizens Jmp raised shares of Artivion to a "strong-buy" rating in a research report on Tuesday, May 6th. Stifel Nicolaus decreased their target price on shares of Artivion from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Finally, JMP Securities restated a "market outperform" rating and issued a $33.00 price target on shares of Artivion in a report on Tuesday, May 6th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $31.40.

Insider Activity at Artivion

In other news, Director Anthony B. Semedo sold 2,600 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $28.47, for a total value of $74,022.00. Following the completion of the transaction, the director now owns 33,059 shares in the company, valued at $941,189.73. This trade represents a 7.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Marshall S. Stanton sold 10,548 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $29.13, for a total transaction of $307,263.24. Following the completion of the transaction, the senior vice president now owns 105,332 shares of the company's stock, valued at $3,068,321.16. This represents a 9.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,822 shares of company stock worth $922,831 in the last 90 days. 7.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Artivion

Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its holdings in shares of Artivion by 2.8% during the fourth quarter. Franklin Resources Inc. now owns 21,707 shares of the company's stock valued at $621,000 after acquiring an additional 600 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Artivion by 3.1% in the first quarter. Illinois Municipal Retirement Fund now owns 20,519 shares of the company's stock worth $504,000 after purchasing an additional 611 shares during the period. MCF Advisors LLC raised its position in Artivion by 109.3% in the first quarter. MCF Advisors LLC now owns 1,176 shares of the company's stock worth $29,000 after acquiring an additional 614 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Artivion by 3.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,559 shares of the company's stock worth $645,000 after acquiring an additional 727 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Artivion by 236.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,118 shares of the company's stock worth $32,000 after acquiring an additional 786 shares in the last quarter. Institutional investors and hedge funds own 86.37% of the company's stock.

About Artivion

Artivion, Inc manufactures, processes, and distributes medical devices and implantable human tissues worldwide. The company provides BioGlue, a polymer consisting of bovine blood protein and an agent for cross-linking proteins for cardiac, vascular, neurologic, and pulmonary procedures; cardiac preservation services; PhotoFix, a bovine pericardial patch; and aortic arch stent grafts including E-vita Open Plus and E-vita Open Neo.