Artivion (NYSE:AORT) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Canaccord Genuity Group raised the price target for Artivion (NYSE:AORT) from $35.00 to $41.00, maintaining a "buy" rating on the stock.
• Artivion reported better-than-expected quarterly earnings with $0.24 earnings per share, surpassing analysts' estimates of $0.11.
• Overall, research analysts provide a consensus rating of "Buy" for Artivion, with a consensus price target of $40.00.

Artivion (NYSE:AORT - Free Report) had its target price hoisted by Canaccord Genuity Group from $35.00 to $41.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Artivion from $36.00 to $40.00 and gave the company a "buy" rating in a report on Friday. Needham & Company LLC restated a "buy" rating and issued a $45.00 target price (up from $32.00) on shares of Artivion in a research report on Friday. Citizens Jmp upgraded shares of Artivion to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, JMP Securities boosted their target price on shares of Artivion from $33.00 to $42.00 and gave the company a "market outperform" rating in a research report on Friday. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $40.00.

Artivion Stock Performance

NYSE AORT traded up $0.28 during trading on Friday, reaching $43.24. The company's stock had a trading volume of 415,075 shares, compared to its average volume of 435,123. The company has a current ratio of 4.78, a quick ratio of 3.48 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -102.95 and a beta of 1.64. Artivion has a 12 month low of $21.97 and a 12 month high of $43.69. The firm has a 50 day moving average price of $31.06 and a 200 day moving average price of $28.07.

Artivion (NYSE:AORT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.13. The firm had revenue of $112.97 million during the quarter, compared to the consensus estimate of $107.96 million. Artivion had a negative net margin of 4.43% and a positive return on equity of 5.70%. The company's quarterly revenue was up 15.3% compared to the same quarter last year. As a group, equities analysts anticipate that Artivion will post 0.37 EPS for the current fiscal year.

Insider Activity at Artivion

In related news, SVP Jean F. Holloway sold 9,926 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $29.00, for a total value of $287,854.00. Following the completion of the transaction, the senior vice president owned 187,258 shares of the company's stock, valued at $5,430,482. This represents a 5.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony B. Semedo sold 2,600 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $28.47, for a total transaction of $74,022.00. Following the completion of the transaction, the director directly owned 33,059 shares of the company's stock, valued at approximately $941,189.73. The trade was a 7.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,406 shares of company stock valued at $1,801,262 in the last quarter. Insiders own 8.10% of the company's stock.

Hedge Funds Weigh In On Artivion

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Next Century Growth Investors LLC increased its position in Artivion by 107.6% in the 1st quarter. Next Century Growth Investors LLC now owns 1,022,775 shares of the company's stock valued at $25,140,000 after acquiring an additional 530,122 shares during the period. Peregrine Capital Management LLC acquired a new position in Artivion in the 1st quarter valued at approximately $7,650,000. Wasatch Advisors LP increased its position in Artivion by 27.7% in the 4th quarter. Wasatch Advisors LP now owns 1,041,992 shares of the company's stock valued at $29,791,000 after acquiring an additional 226,160 shares during the period. Point72 Asset Management L.P. acquired a new position in Artivion in the 4th quarter valued at approximately $5,573,000. Finally, First Trust Advisors LP acquired a new position in Artivion in the 4th quarter valued at approximately $4,771,000. Institutional investors own 86.37% of the company's stock.

Artivion Company Profile

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.