Canaccord Genuity Group Begins Coverage on Artivion (NYSE:AORT)

Canaccord Genuity Group started coverage on shares of Artivion (NYSE:AORT - Get Free Report) in a report issued on Tuesday,Benzinga reports. The firm set a "buy" rating and a $35.00 price target on the stock. Canaccord Genuity Group's price target suggests a potential upside of 22.04% from the company's current price.

Several other equities analysts have also recently weighed in on AORT. Needham & Company LLC reiterated a "buy" rating and issued a $32.00 price target on shares of Artivion in a research report on Tuesday, May 6th. JMP Securities reiterated a "market outperform" rating and set a $33.00 price target on shares of Artivion in a research report on Tuesday, May 6th. Stifel Nicolaus cut their price objective on shares of Artivion from $33.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Finally, Citizens Jmp raised shares of Artivion to a "strong-buy" rating in a report on Tuesday, May 6th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Artivion has an average rating of "Buy" and a consensus price target of $32.00.

Artivion Stock Performance

NYSE:AORT opened at $28.68 on Tuesday. The company has a market capitalization of $1.22 billion, a P/E ratio of -1,433.95 and a beta of 1.62. Artivion has a 1 year low of $21.97 and a 1 year high of $32.33. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.88 and a quick ratio of 1.33. The business has a fifty day simple moving average of $26.71 and a two-hundred day simple moving average of $27.45.

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

Insider Activity at Artivion

In other Artivion news, SVP Jean F. Holloway sold 9,926 shares of Artivion stock in a transaction dated 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 now directly owns 187,258 shares of the company's stock, valued at approximately $5,430,482. The trade was a 5.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Marshall S. Stanton sold 10,548 shares of Artivion stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $29.13, for a total transaction of $307,263.24. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,954 shares of company stock valued at $1,666,025. Insiders own 7.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AORT. Millennium Management LLC grew its stake in Artivion by 25.1% in the fourth quarter. Millennium Management LLC now owns 165,482 shares of the company's stock worth $4,731,000 after purchasing an additional 33,220 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Artivion in the fourth quarter worth $194,000. New York State Common Retirement Fund grew its holdings in shares of Artivion by 2.5% during the fourth quarter. New York State Common Retirement Fund now owns 41,017 shares of the company's stock valued at $1,173,000 after buying an additional 1,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in Artivion by 64.2% during the fourth quarter. JPMorgan Chase & Co. now owns 160,796 shares of the company's stock valued at $4,597,000 after buying an additional 62,893 shares during the period. Finally, Deutsche Bank AG lifted its stake in Artivion by 45.1% in the 4th quarter. Deutsche Bank AG now owns 36,982 shares of the company's stock worth $1,057,000 after acquiring an additional 11,501 shares in the last quarter. Hedge funds and other institutional investors 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.

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