Corient Private Wealth LP Invests $3.58 Million in Artivion, Inc. $AORT

Key Points

• Corient Private Wealth LP acquired 159,348 Artivion shares worth approximately $3.58 million, representing about 0.33% of the company. Institutional investors and hedge funds collectively own 86.37% of AORT.
• Analyst sentiment remains broadly positive, with seven Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $44.83. Recent targets include $40 from Canaccord Genuity and $44 from Needham.
• Artivion reported quarterly revenue of $125.76 million, exceeding the $119.99 million consensus estimate, and adjusted earnings of $0.13 per share. However, insiders have sold 90,460 shares worth about $2.56 million over the past 90 days.

Corient Private Wealth LP bought a new stake in Artivion, Inc. (NYSE:AORT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 159,348 shares of the company's stock, valued at approximately $3,581,000. Corient Private Wealth LP owned about 0.33% of Artivion as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Artivion in the second quarter valued at approximately $149,965,000. Fred Alger Management LLC increased its stake in Artivion by 4.2% in the fourth quarter. Fred Alger Management LLC now owns 1,372,572 shares of the company's stock valued at $62,603,000 after purchasing an additional 55,322 shares during the period. Wellington Management Group LLP increased its stake in Artivion by 9.0% in the second quarter. Wellington Management Group LLP now owns 1,260,279 shares of the company's stock valued at $28,318,000 after purchasing an additional 103,592 shares during the period. Conestoga Capital Advisors LLC purchased a new stake in shares of Artivion in the first quarter valued at about $43,044,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Artivion by 4.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,027,575 shares of the company's stock valued at $37,626,000 after buying an additional 46,738 shares during the last quarter. 86.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AORT has been the subject of a number of recent research reports. Wall Street Zen cut Artivion from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Citigroup reissued a "market outperform" rating on shares of Artivion in a report on Tuesday, July 21st. Weiss Ratings cut Artivion from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Canaccord Genuity Group increased their price target on Artivion from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. Finally, Needham & Company LLC reissued a "buy" rating and issued 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 assigned a Sell rating to the stock. According to data from MarketBeat, Artivion presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.83.

Artivion Stock Performance

NYSE AORT opened at $23.38 on Monday. Artivion, Inc. has a 1-year low of $19.16 and a 1-year high of $48.25. The company has a market capitalization of $1.14 billion, a P/E ratio of -333.94 and a beta of 1.25. The business has a 50 day moving average price of $26.30 and a 200 day moving average price of $28.28. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.47 and a quick ratio of 2.51.

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

Insider Activity at Artivion

In other news, SVP Andrew Green sold 11,480 shares of the business's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $24.97, for a total value of $286,655.60. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James Mackin sold 70,000 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were 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 owned 877,275 shares in the company, valued at $25,397,111.25. This represents a 7.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 90,460 shares of company stock valued at $2,557,366. 6.30% of the stock is 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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