Cryolife (CRY) Gets a Buy Rating from Northland Securities

Northland Securities analyst Suraj Kalia maintained a Buy rating on Cryolife (NYSE: CRY) today and set a price target of $32. The company’s shares opened today at $31.62.

Kalia noted:

“We continue to rate this story as one of the best run companies in our space (the other being Edwards LifeSciences). Key Points Organic biz excluding JOTEC & On-X @ $38.3M was up ~7.5% y/y. Including On-X, revs were up 13% y/y. Including JOTEC over that, revs were up 47% y/y. As a reminder, organic biz prior to On-X and JOTEC acquisitions was running @ CAGR of ~1 – 3%. The rough math indicates that the acquisitions of On-X and JOTEC has helped improve cross-selling efforts & elevated organic products to the 7.5% growth run rate (at least nominally).”

According to TipRanks.com, Kalia is a 5-star analyst with an average return of 12.0% and a 58.8% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Obalon Therapeutics Inc, Apollo Endosurgery Inc, and Edwards Lifesciences.

Currently, the analyst consensus on Cryolife is a Moderate Buy with an average price target of $34.

See today’s analyst top recommended stocks >>

Based on Cryolife’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $224K. In comparison, last year the company had a net profit of $1.3 million.

Based on the recent corporate insider activity of 96 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, David Ashley Lee, the Executive VP, COO & CFO of CRY sold 16,666 shares for a total of $531,979.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

CryoLife, Inc. is a medical devices company, which engages in the processing and distribution of implantable human tissues for use in cardiac and vascular surgeries. It operates through the Medical Devices and Preservation Services segments.