Cryolife (CRY) Gets a Buy Rating from Needham

Needham analyst Michael Matson assigned a Buy rating to Cryolife (CRY) today and set a price target of $38.00. The company’s shares closed last Monday at $29.50.

According to, Matson is a 5-star analyst with an average return of 15.6% and a 66.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Zimmer Biomet Holdings, and Cardiovascular Systems.

Cryolife has an analyst consensus of Moderate Buy, with a price target consensus of $36.50, representing a 18.8% upside. In a report issued on April 30, Oppenheimer also maintained a Buy rating on the stock with a $35.00 price target.

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Based on Cryolife’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $71.09 million and GAAP net loss of $3.14 million. In comparison, last year the company earned revenue of $66.43 million and had a GAAP net loss of $6.67 million.

Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRY in relation to earlier this year.

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CryoLife, Inc. engages in the manufacture, process and distribution of medical devices. It operates through the following segments: Medical Devices and Preservation Services. The Medical Devices segment includes revenues from sales of BioGlue; JOTEC products, On-X products, CardioGenesis cardiac laser therapy, PerClot and PhotoFix. The Preservation Services segment focuses on external services revenues from the preservation of cardiac and vascular tissues. The company was founded on January 19, 1984 and is headquartered in Kennesaw, GA.

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