Bank of America Corp DE Acquires 521,437 Shares of Artivion, Inc. $AORT

Key Points

• Bank of America acquired 521,437 Artivion shares worth approximately $11.7 million during the second quarter, giving it a 1.07% stake. Institutional investors collectively own 86.37% of the company.
• Analyst sentiment remains mostly positive, with seven Buy ratings and one Sell rating. Artivion has a consensus rating of “Moderate Buy” and an average price target of $44.83.
• Artivion reported quarterly revenue of $125.76 million, above the $119.99 million consensus estimate, and earnings of $0.13 per share. The stock opened at $22.70, near the lower end of its 52-week range of $19.16 to $48.25.

Bank of America Corp DE acquired a new stake in Artivion, Inc. (NYSE:AORT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 521,437 shares of the company's stock, valued at approximately $11,717,000. Bank of America Corp DE owned approximately 1.07% of Artivion as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AORT. Freestone Grove Partners LP acquired a new stake in shares of Artivion in the 2nd quarter valued at approximately $328,000. Jupiter Topco LLC acquired a new stake in Artivion in the second quarter valued at approximately $384,000. Parkman Healthcare Partners LLC bought a new stake in shares of Artivion during the second quarter worth $3,122,000. Legal & General Group Plc bought a new stake in shares of Artivion during the second quarter worth $5,826,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Artivion during the second quarter worth $517,000. Institutional investors own 86.37% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AORT. Canaccord Genuity Group lifted their price target on Artivion from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Wall Street Zen downgraded Artivion from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Stifel Nicolaus set a $45.00 price objective on shares of Artivion in a report on Monday, June 1st. Citigroup reiterated a "market outperform" rating on shares of Artivion in a report on Tuesday, July 21st. Finally, Weiss Ratings downgraded shares of Artivion from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Artivion has a consensus rating of "Moderate Buy" and an average price target of $44.83.

Artivion Stock Performance

Shares of AORT stock opened at $22.70 on Friday. The firm has a 50 day moving average of $26.20 and a 200-day moving average of $27.83. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -324.20 and a beta of 1.25. The company has a quick ratio of 2.51, a current ratio of 3.47 and a debt-to-equity ratio of 0.82. Artivion, Inc. has a 52 week low of $19.16 and a 52 week high of $48.25.

Artivion (NYSE:AORT - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter. Artivion had a negative net margin of 0.67% and a positive return on equity of 6.07%. The company had revenue of $125.76 million for the quarter, compared to the consensus estimate of $119.99 million. On average, equities analysts forecast that Artivion, Inc. will post 0.45 earnings per share for the current year.

Insider Transactions at Artivion

In other news, SVP Jean Holloway sold 977 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $28.49, for a total value of $27,834.73. Following the completion of the sale, the senior vice president directly owned 184,118 shares in the company, valued at $5,245,521.82. This trade represents a 0.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Andrew Green sold 11,480 shares of the business's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $24.97, for a total value of $286,655.60. Following the completion of the sale, the senior vice president directly owned 40,160 shares of the company's stock, valued at $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 90,460 shares of company stock valued at $2,557,366 in the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

About Artivion

Artivion, Inc is a medical device company focused on developing and supplying products used in cardiac and vascular surgery. The company's portfolio includes implantable devices, surgical products and preservation technologies designed to treat diseases of the heart and aorta.

Its products include the On-X mechanical heart valve, aortic stent grafts and surgical grafts, as well as BioGlue Surgical Adhesive and other products used to control bleeding and reinforce tissue during cardiovascular procedures.

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