BlackRock Inc. Buys Shares of 6,674,017 Artivion, Inc. $AORT

Key Points

• BlackRock acquired 6.67 million Artivion shares worth approximately $150 million during the second quarter, giving it a 13.75% stake. Institutional investors collectively own 86.37% of AORT.
• Analyst sentiment remains broadly positive: seven analysts rate Artivion a Buy and one rates it a Sell, producing a consensus “Moderate Buy” rating and an average price target of $44.83.
• Artivion reported quarterly revenue of $125.76 million, above the $119.99 million analyst estimate, and earnings of $0.13 per share. However, company insiders sold 114,978 shares worth about $3.0 million over the past three months.

BlackRock Inc. purchased a new stake in Artivion, Inc. (NYSE:AORT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,674,017 shares of the company's stock, valued at approximately $149,965,000. BlackRock Inc. owned 13.75% of Artivion at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Deutsche Bank AG acquired a new position in Artivion during the 2nd quarter worth $1,417,000. Bank of New York Mellon Corp bought a new position in Artivion during the 2nd quarter valued at $5,671,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Artivion in the 2nd quarter worth $332,000. Walleye Capital LLC acquired a new stake in shares of Artivion in the second quarter valued at $490,000. Finally, Glenmede Trust Co. NA acquired a new stake in shares of Artivion in the first quarter valued at $295,000. Institutional investors own 86.37% of the company's stock.

Insider Buying and Selling

In related news, CEO James P. Mackin sold 70,000 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $28.95, for a total value of $2,026,500.00. Following the completion of the sale, the chief executive officer directly owned 877,275 shares in the company, valued at approximately $25,397,111.25. The trade was a 7.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jean F. Holloway sold 977 shares of the business'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 transaction, the senior vice president directly owned 184,118 shares of the company's stock, valued at approximately $5,245,521.82. The trade was a 0.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 114,978 shares of company stock valued at $2,965,155. 6.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup restated a "market outperform" rating on shares of Artivion in a report on Tuesday, July 21st. Wall Street Zen cut Artivion from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Citizens Jmp cut their price objective on shares of Artivion from $53.00 to $48.00 and set a "market outperform" rating on the stock in a research report on Friday, May 8th. Needham & Company LLC reiterated a "buy" rating and issued a $44.00 target price on shares of Artivion in a report on Monday, July 20th. Finally, Canaccord Genuity Group upped their price target on Artivion from $39.00 to $40.00 and gave the company a "buy" rating in a report on Tuesday, August 18th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $44.83.

Artivion Stock Performance

Shares of AORT opened at $26.77 on Friday. The company has a current ratio of 3.47, a quick ratio of 2.51 and a debt-to-equity ratio of 0.82. The firm has a fifty day simple moving average of $25.64 and a 200 day simple moving average of $29.67. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -382.37 and a beta of 1.25. Artivion, Inc. has a 12 month low of $19.16 and a 12 month high of $48.25.

Artivion (NYSE:AORT - Get Free Report) last posted its quarterly 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 firm had revenue of $125.76 million for the quarter, compared to analyst estimates of $119.99 million. Research analysts forecast that Artivion, Inc. will post 0.45 EPS for the current fiscal year.

Artivion Profile

Artivion, Inc NYSE: AORT is a global medical technology company that develops, manufactures and markets implantable tissue products and surgical devices for cardiac and vascular surgery. The company’s portfolio includes biologic implants derived from human and animal tissue, such as allografts and xenografts, as well as synthetic scaffolds and surgical adhesives. These products are designed to repair, reinforce or replace damaged cardiovascular and thoracic tissues during procedures such as aortic repair, heart valve surgery and vascular reconstruction.

Originally founded in 1984 under the name CryoLife, the company rebranded as Artivion in early 2022 to reflect its broader mission in cardiovascular innovation.

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