Artivion (NYSE:AORT) Reaches New 1-Year High on Strong Earnings

Artivion, Inc. (NYSE:AORT)’s stock price reached a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $25.51 and last traded at $24.46, with a volume of 138591 shares traded. The stock had previously closed at $21.07.

The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $97.43 million for the quarter, compared to analyst estimates of $92.30 million. Artivion had a positive return on equity of 3.02% and a negative net margin of 8.67%. During the same period in the prior year, the company earned $0.02 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Artivion from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC raised their price objective on shares of Artivion from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday.

Insider Transactions at Artivion

In related news, VP Rochelle L. Maney sold 2,315 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $20.27, for a total value of $46,925.05. Following the completion of the sale, the vice president now owns 39,197 shares in the company, valued at approximately $794,523.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Rochelle L. Maney sold 2,315 shares of Artivion stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.27, for a total value of $46,925.05. Following the transaction, the vice president now owns 39,197 shares in the company, valued at approximately $794,523.19. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Matthew A. Getz sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $19.94, for a total transaction of $99,700.00. Following the completion of the sale, the vice president now directly owns 43,536 shares of the company’s stock, valued at $868,107.84. The disclosure for this sale can be found here. In the last three months, insiders sold 149,952 shares of company stock worth $2,891,627. 8.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Artivion

A number of large investors have recently bought and sold shares of AORT. Wasatch Advisors LP boosted its stake in shares of Artivion by 108.8% during the first quarter. Wasatch Advisors LP now owns 1,083,568 shares of the company’s stock valued at $22,928,000 after purchasing an additional 564,549 shares during the period. First Eagle Investment Management LLC boosted its position in Artivion by 37.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 526,528 shares of the company’s stock valued at $7,982,000 after buying an additional 143,146 shares during the period. Dimensional Fund Advisors LP grew its holdings in Artivion by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,686,502 shares of the company’s stock worth $30,156,000 after acquiring an additional 80,214 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of Artivion in the third quarter valued at about $1,034,000. Finally, GSA Capital Partners LLP raised its stake in shares of Artivion by 187.5% during the third quarter. GSA Capital Partners LLP now owns 82,449 shares of the company’s stock valued at $1,250,000 after acquiring an additional 53,773 shares during the last quarter. 86.37% of the stock is owned by hedge funds and other institutional investors.

Artivion Trading Down 1.9 %

The company has a quick ratio of 3.43, a current ratio of 4.85 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $961.20 million, a PE ratio of -31.11 and a beta of 1.66. The stock’s fifty day moving average price is $20.57 and its two-hundred day moving average price is $18.18.

About Artivion

Artivion, Inc manufactures, processes, and distributes medical devices and implantable human tissues worldwide. The company provides BioGlue, a polymer consisting of bovine blood protein and an agent for cross-linking proteins for cardiac, vascular, neurologic, and pulmonary procedures; cardiac preservation services; PhotoFix, a bovine pericardial patch; and aortic arch stent grafts including E-vita Open Plus and E-vita Open Neo.