Analyst Bullish On Cryolife Inc (CRY)
Analyst Brooks West of Piper Jaffray reiterated his Overweight rating on Cryolife Inc (NYSE:CRY) with a price target of $16, marking a 21% increase from current levels
This rating came after the company reported revenue and EPS of $47.1 million and $0.13 respectively in the 2Q. Revenues, which were up 33% YoY, were pushed up by “recently acquired On-X, improvements to the vascular tissue business, and strong BioGlue sales.” Despite this earnings report FY16 revenue guidance were only increased by $2 million and EPS guidance was increased by $0.03. The analyst believes that Cryolife’s management has the company “ahead of schedule in its turnaround efforts on several fronts including the continued integration of On-X, the recent consolidation of its three sales teams and operational improvements in the legacy tissue business.”
According to TipRanks, West has a success rate of 71% with an average return of 10.2% per recommendation.