JMP Securities Boosts Artivion (NYSE:AORT) Price Target to $42.00

Key Points

• JMP Securities raised its price target for Artivion (NYSE:AORT) from $33.00 to $42.00, indicating a potential upside of 7.93% from the previous close.
• The stock saw a significant increase, trading up 19% on Friday, reaching $38.92, and has a current market capitalization of approximately $1.66 billion.
• Artivion recently reported earnings per share of $0.24 for the quarter, surpassing estimates, and its revenue increased by 15.3% year-over-year.

Artivion (NYSE:AORT - Get Free Report) had its target price lifted by analysts at JMP Securities from $33.00 to $42.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. JMP Securities' price target suggests a potential downside of 3.91% from the company's current price.

Several other research analysts have also issued reports on AORT. Citizens Jmp raised Artivion to a "strong-buy" rating in a research report on Tuesday, May 6th. Canaccord Genuity Group started coverage on Artivion in a research note on Tuesday, June 17th. They issued a "buy" rating and a $35.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $45.00 price target (up from $32.00) on shares of Artivion in a research note on Friday. Finally, Stifel Nicolaus raised their price objective on Artivion from $36.00 to $40.00 and gave the company a "buy" rating in a research note on Friday. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $40.00.

Artivion Trading Up 1.7%

AORT stock traded up $0.75 during trading on Friday, hitting $43.71. 1,256,594 shares of the company traded hands, compared to its average volume of 441,066. The firm has a market capitalization of $1.87 billion, a PE ratio of -104.07 and a beta of 1.64. Artivion has a 1 year low of $21.97 and a 1 year high of $43.91. The company has a 50-day moving average of $31.06 and a 200-day moving average of $28.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.48 and a current ratio of 4.78.

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

Insider Activity

In other news, Director Anthony B. Semedo sold 2,600 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was 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. This represents a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jean F. Holloway sold 8,748 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $29.00, for a total value of $253,692.00. Following the completion of the sale, the senior vice president directly owned 178,510 shares of the company's stock, valued at $5,176,790. The trade was a 4.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,406 shares of company stock worth $1,801,262 over the last ninety days. Corporate insiders own 8.10% of the company's stock.

Hedge Funds Weigh In On Artivion

A number of large investors have recently modified their holdings of AORT. XTX Topco Ltd acquired a new stake in Artivion during the 2nd quarter valued at $1,590,000. Prudential Financial Inc. raised its position in Artivion by 5.5% in the second quarter. Prudential Financial Inc. now owns 39,893 shares of the company's stock valued at $1,241,000 after purchasing an additional 2,072 shares during the period. Rhumbline Advisers increased its position in shares of Artivion by 3.3% during the second quarter. Rhumbline Advisers now owns 110,862 shares of the company's stock worth $3,448,000 after acquiring an additional 3,542 shares during the last quarter. Franklin Resources Inc. grew its stake in Artivion by 1.9% in the second quarter. Franklin Resources Inc. now owns 29,263 shares of the company's stock worth $910,000 after purchasing an additional 533 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Artivion by 4.3% in the second quarter. Legal & General Group Plc now owns 150,189 shares of the company's stock worth $4,671,000 after purchasing an additional 6,170 shares in the last quarter. 86.37% of the stock is owned by hedge funds and other institutional investors.

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.