Artivion (NYSE:AORT) Reaches New 1-Year High After Better-Than-Expected Earnings

Artivion, Inc. (NYSE:AORT)’s share price hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $25.51 and last traded at $24.46, with a volume of 138591 shares. The stock had previously closed at $21.07.

The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. Artivion had a positive return on equity of 3.02% and a negative net margin of 8.67%. During the same period in the previous year, the company earned $0.02 EPS.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC upped their price target on shares of Artivion from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus upped their price target on shares of Artivion from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday.

Insider Buying and Selling

In other Artivion news, VP Andrew M. Green sold 1,462 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $20.00, for a total transaction of $29,240.00. Following the completion of the sale, the vice president now directly owns 41,121 shares in the company, valued at $822,420. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Artivion news, VP Andrew M. Green sold 1,462 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $20.00, for a total transaction of $29,240.00. Following the completion of the sale, the vice president now directly owns 41,121 shares in the company, valued at $822,420. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Marshall S. Stanton sold 2,183 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $20.39, for a total transaction of $44,511.37. Following the transaction, the senior vice president now directly owns 83,296 shares of the company’s stock, valued at approximately $1,698,405.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 149,952 shares of company stock worth $2,891,627. Corporate insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC acquired a new position in Artivion in the fourth quarter worth about $916,000. Algert Global LLC acquired a new position in Artivion in the third quarter worth about $566,000. GSA Capital Partners LLP raised its position in Artivion by 187.5% in the third quarter. GSA Capital Partners LLP now owns 82,449 shares of the company’s stock worth $1,250,000 after purchasing an additional 53,773 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Artivion by 37.3% during the third quarter. First Eagle Investment Management LLC now owns 526,528 shares of the company’s stock worth $7,982,000 after buying an additional 143,146 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Artivion during the third quarter worth approximately $1,034,000. Institutional investors and hedge funds own 86.37% of the company’s stock.

Artivion Trading Up 12.8 %

The company has a market cap of $979.32 million, a price-to-earnings ratio of -31.69 and a beta of 1.66. The company’s fifty day moving average price is $20.40 and its two-hundred day moving average price is $18.06. The company has a quick ratio of 3.43, a current ratio of 4.85 and a debt-to-equity ratio of 1.10.

Artivion Company Profile

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.