Northland Securities analyst Suraj Kalia maintained a Buy rating on Cryolife (NYSE: CRY) today and set a price target of $30. The company’s shares opened today at $28, close to its 52-week high of $28.45.
Kalia commented:
“We are raising our PT on CryoLife to $30/share. While we maintain our relative concern on the JOTEC acquisition, we feel that there are enough levers that can be pulled in FY19 to make this a double-digit grower. Given the overall medtech valuation is now 6x forward P/S, we are increasing our multiple on CRY stock to 5x forward P/S and use the same valuation methodology as before. Key Points In order of importance, our rationale for raising our PT is: 1. Going direct in Benelux countries will help the gross margin profile tick up over time.”
According to TipRanks.com, Kalia is a 4-star analyst with an average return of 9.4% and a 59.4% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Obalon Therapeutics Inc, and Apollo Endosurgery Inc.
Cryolife has an analyst consensus of Moderate Buy, with a price target consensus of $25.75.
See today’s analyst top recommended stocks >>
Based on Cryolife’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $3.82 million. In comparison, last year the company had a net profit of $2.18 million.
Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock. Last month, Davis John E, the SVP, Global Sales of CRY sold 4,373 shares for a total of $113,698.
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.
