Artivion (NYSE:AORT) Sets New 1-Year Low - What's Next?

Key Points

• Artivion shares hit a new 52-week low, falling to $19.04 during Friday trading, well below their 50-day and 200-day moving averages.
• Analyst views remain mixed: six analysts rate the stock Buy and one Sell, giving it a “Moderate Buy” consensus and a $39 average price target. Canaccord cut its target from $40 to $30.
• The company beat quarterly expectations, reporting EPS of $0.08 versus estimates of a $0.06 loss and revenue of $123.79 million versus $120.97 million expected. Insiders sold about 89,483 shares over the past 90 days.

Artivion, Inc. (NYSE:AORT - Get Free Report) shares reached a new 52-week low during mid-day trading on Friday. The stock traded as low as $19.04 and last traded at $19.0780, with a volume of 81,041 shares traded. The stock had previously closed at $19.40.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group decreased their price objective on shares of Artivion from $40.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, November 6th. Citigroup reiterated a "market outperform" rating on shares of Artivion in a research report on Tuesday, July 21st. Wall Street Zen lowered Artivion from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Jefferies Financial Group assumed coverage on shares of Artivion in a report on Tuesday, October 20th. They set a "buy" rating and a $31.00 price target on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Artivion in a report on Wednesday, November 4th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $39.00.

Artivion Stock Performance

The stock has a market cap of $928.57 million, a price-to-earnings ratio of -52.82 and a beta of 1.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.42 and a quick ratio of 3.02. The company's fifty day simple moving average is $23.02 and its two-hundred day simple moving average is $28.51.

Artivion (NYSE:AORT - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.14. Artivion had a positive return on equity of 5.12% and a negative net margin of 3.65%. The business had revenue of $123.79 million during the quarter, compared to the consensus estimate of $120.97 million.

Insider Buying and Selling

In other news, CEO James Mackin sold 70,000 shares of the company'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 transaction, the chief executive officer directly owned 877,275 shares of the company's stock, valued at $25,397,111.25. This represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Andrew Green sold 11,480 shares of the company's stock in a transaction on 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 transaction, the senior vice president owned 40,160 shares of the company's stock, valued at $1,002,795.20. This trade represents a 22.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 89,483 shares of company stock worth $2,529,531 in the last 90 days. Company insiders own 6.30% of the company's stock.

Institutional Investors Weigh In On Artivion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GW&K Investment Management LLC lifted its holdings in shares of Artivion by 67.7% in the third quarter. GW&K Investment Management LLC now owns 1,332,672 shares of the company's stock worth $30,412,000 after buying an additional 538,194 shares in the last quarter. Voya Investment Management LLC bought a new stake in Artivion during the 3rd quarter worth approximately $207,000. Public Sector Pension Investment Board lifted its stake in Artivion by 66.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 244,479 shares of the company's stock worth $5,310,000 after purchasing an additional 97,692 shares in the last quarter. Royce & Associates LP boosted its holdings in Artivion by 39.2% in the 3rd quarter. Royce & Associates LP now owns 889,702 shares of the company's stock valued at $20,303,000 after purchasing an additional 250,420 shares during the period. Finally, Diversified Trust Co purchased a new position in shares of Artivion during the 3rd quarter valued at $297,000. 86.37% of the stock is currently owned by institutional investors.

About Artivion

Artivion, Inc. is a medical device company focused on treating aortic disease and supporting cardiac and vascular surgery. Its products include aortic stent grafts and surgical grafts, mechanical heart valves, and BioGlue, a surgical adhesive used in cardiovascular procedures. The company was founded as CryoLife and adopted the Artivion name in 2022. It serves healthcare providers in the United States and international markets. Artivion is headquartered in Kennesaw, Georgia. Its chief executive officer is Pat Mackin.

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