Artivion (NYSE:AORT) Sets New 12-Month High After Earnings Beat

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

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

Analysts Set New Price Targets

AORT has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price objective 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 target on Artivion from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday.

Insider Buying and Selling

In other Artivion news, SVP Marshall S. Stanton sold 2,183 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $20.39, for a total value of $44,511.37. Following the transaction, the senior vice president now directly owns 83,296 shares in the company, valued at $1,698,405.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Amy Horton sold 1,695 shares of Artivion stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $18.86, for a total transaction of $31,967.70. Following the sale, the chief accounting officer now owns 122,345 shares in the company, valued at $2,307,426.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marshall S. Stanton sold 2,183 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $20.39, for a total value of $44,511.37. Following the completion of the sale, the senior vice president now directly owns 83,296 shares of the company’s stock, valued at $1,698,405.44. The disclosure for this sale can be found here. Insiders sold a total of 149,952 shares of company stock worth $2,891,627 over the last 90 days. 8.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Artivion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Artivion by 38.6% during the first quarter. GAMMA Investing LLC now owns 1,814 shares of the company’s stock worth $38,000 after acquiring an additional 505 shares during the last quarter. Register Financial Advisors LLC purchased a new position in Artivion during the 1st quarter worth $114,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Artivion by 291.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,580 shares of the company’s stock valued at $118,000 after buying an additional 4,154 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Artivion by 97.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,322 shares of the company’s stock worth $126,000 after buying an additional 4,099 shares during the period. Finally, Silverleafe Capital Partners LLC purchased a new position in shares of Artivion during the third quarter worth about $152,000. Hedge funds and other institutional investors own 86.37% of the company’s stock.

Artivion Price Performance

The company has a 50-day moving average of $20.57 and a 200-day moving average of $18.18. The company has a debt-to-equity ratio of 1.10, a quick ratio of 3.43 and a current ratio of 4.85. The stock has a market cap of $961.20 million, a price-to-earnings ratio of -31.11 and a beta of 1.66.

Artivion Company Profile

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.