Artivion, Inc. $AORT Shares Sold by Conestoga Capital Advisors LLC

Key Points

• Conestoga Capital Advisors cut its Artivion stake by 15.6% in the third quarter, selling 253,845 shares; it retained 1.37 million shares, or about 2.81% of the company. Institutional investors and hedge funds collectively own 86.37% of Artivion.
• Artivion reported quarterly EPS of $0.13 and revenue of $125.76 million, above analysts’ $119.99 million revenue estimate. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $42.86.
• Company insiders sold 90,460 shares worth about $2.56 million over the last quarter. Insiders own 6.30% of the company.

Conestoga Capital Advisors LLC cut its holdings in Artivion, Inc. (NYSE:AORT - Free Report) by 15.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,369,855 shares of the company's stock after selling 253,845 shares during the quarter. Conestoga Capital Advisors LLC owned about 2.81% of Artivion worth $31,260,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its stake in shares of Artivion by 150.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 665 shares of the company's stock worth $30,000 after acquiring an additional 399 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Artivion by 362.8% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,379 shares of the company's stock valued at $31,000 after acquiring an additional 1,081 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Artivion by 38.0% during the third quarter. Versant Capital Management Inc now owns 2,119 shares of the company's stock valued at $48,000 after acquiring an additional 584 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Artivion in the 2nd quarter valued at approximately $103,000. Finally, Pictet Asset Management Holding SA raised its position in shares of Artivion by 25.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 5,520 shares of the company's stock valued at $202,000 after purchasing an additional 1,125 shares during the last quarter. Institutional investors and hedge funds own 86.37% of the company's stock.

Artivion Stock Up 11.2%

Shares of AORT stock opened at $26.37 on Thursday. The stock's 50-day simple moving average is $23.72 and its 200-day simple moving average is $29.18. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.51 and a current ratio of 3.47. The firm has a market capitalization of $1.29 billion, a PE ratio of 43.91 and a beta of 1.31. Artivion, Inc. has a fifty-two week low of $19.16 and a fifty-two week high of $48.25.

Artivion (NYSE:AORT - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter. Artivion had a positive return on equity of 6.07% and a negative net margin of 0.67%. The firm had revenue of $125.76 million during the quarter, compared to analysts' expectations of $119.99 million. Equities analysts expect that Artivion, Inc. will post 0.45 earnings per share for the current year.

Insider Activity at Artivion

In other Artivion news, SVP Jean Holloway sold 977 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $28.49, for a total transaction of $27,834.73. Following the completion of the transaction, the senior vice president directly owned 184,118 shares of the company's stock, valued at approximately $5,245,521.82. This trade represents a 0.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Andrew Green sold 11,480 shares of Artivion stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $24.97, for a total transaction of $286,655.60. Following the sale, the senior vice president owned 40,160 shares of the company's stock, valued at approximately $1,002,795.20. The trade was a 22.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 90,460 shares of company stock worth $2,557,366 over the last quarter. Insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Weiss Ratings downgraded shares of Artivion from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Jefferies Financial Group assumed coverage on shares of Artivion in a research note on Tuesday, October 20th. They set a "buy" rating and a $31.00 price target on the stock. Canaccord Genuity Group raised their price target on shares of Artivion from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. Wall Street Zen downgraded shares of Artivion from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $44.00 price objective on shares of Artivion in a research note on Monday, July 20th. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.86.

About Artivion

Artivion, Inc NYSE: AORT is a medical device and biotechnology company focused on developing and commercializing products used in cardiac and vascular surgery. Its portfolio includes implantable devices, surgical sealants, and human tissue products designed to treat diseases of the heart, aorta, and peripheral blood vessels.

The company's products include On-X mechanical heart valves, aortic and vascular grafts, BioGlue surgical adhesive, and stent graft systems for aortic repair. Artivion also provides tissue preservation services and distributes cardiac and vascular allografts for use in reconstructive procedures.

Artivion was formerly known as CryoLife, a company founded in 1984, and adopted the Artivion name in 2021 to reflect its broader focus on aortic and cardiac care.

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