Fred Alger Management LLC Buys Shares of 120,804 Artivion, Inc. $AORT

Key Points

• Fred Alger Management LLC purchased 120,804 shares of Artivion, Inc. during the first quarter, valued at approximately $2.97 million, owning 0.28% of the company afterward.
• Artivion's quarterly earnings announcement showed $0.24 EPS, exceeding projections, with revenue rising 15.3% year-over-year to $112.97 million.
• Analysts have set an average price target for Artivion at $40.63, with several firms upgrading their ratings to "buy" since their latest reports.

Fred Alger Management LLC bought a new position in shares of Artivion, Inc. (NYSE:AORT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 120,804 shares of the company's stock, valued at approximately $2,969,000. Fred Alger Management LLC owned 0.28% of Artivion at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AORT. Parkman Healthcare Partners LLC acquired a new stake in shares of Artivion during the first quarter valued at about $2,744,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Artivion by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,591 shares of the company's stock valued at $580,000 after acquiring an additional 1,032 shares during the last quarter. Bridger Management LLC acquired a new stake in shares of Artivion during the first quarter valued at about $1,580,000. AQR Capital Management LLC increased its position in shares of Artivion by 8.8% during the first quarter. AQR Capital Management LLC now owns 35,053 shares of the company's stock valued at $862,000 after acquiring an additional 2,823 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Artivion by 107.0% during the first quarter. Royal Bank of Canada now owns 38,707 shares of the company's stock valued at $952,000 after acquiring an additional 20,010 shares during the last quarter. 86.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AORT. Needham & Company LLC lifted their price target on shares of Artivion from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. Oppenheimer restated an "outperform" rating on shares of Artivion in a report on Friday, August 8th. LADENBURG THALM/SH SH cut shares of Artivion from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $32.00 to $38.80 in a report on Wednesday, August 13th. JMP Securities lifted their price objective on shares of Artivion from $33.00 to $42.00 and gave the company a "market outperform" rating in a report on Friday, August 8th. Finally, Canaccord Genuity Group lifted their price objective on shares of Artivion from $35.00 to $41.00 and gave the company a "buy" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $40.63.

Insider Activity

In other news, SVP Jean F. Holloway sold 23,356 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $43.01, for a total transaction of $1,004,541.56. Following the transaction, the senior vice president directly owned 172,129 shares of the company's stock, valued at $7,403,268.29. This represents a 11.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Marshall S. Stanton sold 18,200 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $44.02, for a total transaction of $801,164.00. Following the transaction, the senior vice president directly owned 64,200 shares in the company, valued at approximately $2,826,084. This trade represents a 22.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,858 shares of company stock worth $3,692,629 in the last 90 days. Corporate insiders own 8.10% of the company's stock.

Artivion Stock Performance

Artivion stock traded down $0.19 during trading hours on Monday, reaching $40.52. 63,562 shares of the stock were exchanged, compared to its average volume of 441,526. The stock has a market cap of $1.91 billion, a P/E ratio of -96.46 and a beta of 1.69. 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, Inc. has a 52-week low of $21.97 and a 52-week high of $45.07. The firm's 50 day moving average is $37.46 and its 200 day moving average is $30.33.

Artivion (NYSE:AORT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.13. The company 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 revenue was up 15.3% on a year-over-year basis. Artivion has set its FY 2025 guidance at EPS. Analysts predict that Artivion, Inc. will post 0.37 EPS for the current fiscal year.

Artivion 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.