Artivion (NYSE:AORT) Sets New 1-Year High – Here’s What Happened

by · The Cerbat Gem

Artivion, Inc. (NYSE:AORT – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $48.25 and last traded at $47.0050, with a volume of 377007 shares changing hands. The stock had previously closed at $45.91.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AORT shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $51.00 price objective on shares of Artivion in a report on Wednesday. Stifel Nicolaus lifted their price target on shares of Artivion from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Oppenheimer restated an “outperform” rating and set a $50.00 price objective on shares of Artivion in a research report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Artivion in a report on Wednesday, October 8th. Finally, Needham & Company LLC boosted their target price on shares of Artivion from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.11.

Read Our Latest Stock Analysis on Artivion

Artivion Stock Up 2.8%

The company has a fifty day simple moving average of $44.54 and a 200-day simple moving average of $39.01. The company has a quick ratio of 2.88, a current ratio of 3.93 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.24 billion, a P/E ratio of -196.58 and a beta of 1.60.

Artivion (NYSE:AORT – Get Free Report) last released its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Artivion had a negative net margin of 2.16% and a positive return on equity of 5.98%. The company had revenue of $113.39 million for the quarter, compared to analysts’ expectations of $110.71 million. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, equities analysts anticipate that Artivion, Inc. will post 0.37 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO James P. Mackin sold 34,210 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $45.86, for a total transaction of $1,568,870.60. Following the transaction, the chief executive officer directly owned 800,993 shares in the company, valued at approximately $36,733,538.98. This represents a 4.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John E. Davis sold 6,563 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $45.86, for a total transaction of $300,979.18. Following the completion of the sale, the insider directly owned 198,842 shares of the company’s stock, valued at approximately $9,118,894.12. The trade was a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 234,511 shares of company stock worth $10,612,452 in the last 90 days. Company insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Artivion

Several hedge funds and other institutional investors have recently modified their holdings of AORT. Caitong International Asset Management Co. Ltd purchased a new position in Artivion during the 3rd quarter valued at $27,000. Hancock Whitney Corp purchased a new stake in Artivion in the third quarter worth $212,000. Dark Forest Capital Management LP bought a new stake in shares of Artivion during the third quarter worth $1,623,000. Voloridge Investment Management LLC boosted its stake in shares of Artivion by 442.9% during the third quarter. Voloridge Investment Management LLC now owns 220,076 shares of the company’s stock valued at $9,318,000 after purchasing an additional 179,541 shares during the period. Finally, Wasatch Advisors LP grew its holdings in shares of Artivion by 24.4% in the third quarter. Wasatch Advisors LP now owns 282,391 shares of the company’s stock worth $11,956,000 after purchasing an additional 55,408 shares during the last quarter. 86.37% of the stock is currently owned by hedge funds and other institutional investors.

About Artivion

(Get Free Report)

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.

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