Artivion (NYSE:AORT) Trading Down 4.3% – Here’s What Happened

Shares of Artivion, Inc. (NYSE:AORT) were down 4.3% during trading on Thursday . The company traded as low as $24.06 and last traded at $23.9420. Approximately 96,287 shares were traded during mid-day trading, a decline of 84% from the average session volume of 598,663 shares. The stock had previously closed at $25.02.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AORT. Citigroup restated a “market outperform” rating on shares of Artivion in a research report on Tuesday, July 21st. Weiss Ratings downgraded shares of Artivion from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Canaccord Genuity Group boosted their target price on shares of Artivion from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Stifel Nicolaus set a $45.00 price target on Artivion in a report on Monday, June 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $44.00 price target on shares of Artivion in a research note on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $44.83.

Artivion Stock Performance

The company has a quick ratio of 2.51, a current ratio of 3.47 and a debt-to-equity ratio of 0.82. The company has a market cap of $1.14 billion, a PE ratio of -333.94 and a beta of 1.25. The business’s fifty day moving average is $26.30 and its 200-day moving average is $28.35.

Artivion (NYSE:AORT) last announced its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter. Artivion had a negative net margin of 0.67% and a positive return on equity of 6.07%. The company had revenue of $125.76 million during the quarter, compared to analyst estimates of $119.99 million. As a group, research analysts predict that Artivion, Inc. will post 0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Artivion news, SVP Jean Holloway sold 977 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $28.49, for a total transaction of $27,834.73. Following the sale, the senior vice president owned 184,118 shares in the company, valued at approximately $5,245,521.82. This trade represents a 0.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew Green sold 11,480 shares of Artivion stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $24.97, for a total transaction of $286,655.60. Following the transaction, the senior vice president directly owned 40,160 shares in the company, valued at $1,002,795.20. This represents a 22.23% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 90,460 shares of company stock valued at $2,557,366. 6.30% of the stock is owned by corporate insiders.

Institutional Trading of Artivion

Several institutional investors and hedge funds have recently modified their holdings of AORT. Rockefeller Capital Management L.P. boosted its holdings in Artivion by 150.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 665 shares of the company’s stock worth $30,000 after buying an additional 399 shares during the period. Larson Financial Group LLC raised its holdings in Artivion by 148.5% during the fourth quarter. Larson Financial Group LLC now owns 942 shares of the company’s stock valued at $43,000 after acquiring an additional 563 shares during the period. Quantbot Technologies LP purchased a new position in shares of Artivion in the second quarter valued at about $103,000. Pictet Asset Management Holding SA lifted its position in shares of Artivion by 25.6% in the first quarter. Pictet Asset Management Holding SA now owns 5,520 shares of the company’s stock valued at $202,000 after acquiring an additional 1,125 shares in the last quarter. Finally, Commerce Bank bought a new position in shares of Artivion in the second quarter worth about $208,000. 86.37% of the stock is currently owned by institutional investors.

About Artivion

Artivion, Inc is a medical device company focused on developing and supplying products used in cardiac and vascular surgery. The company’s portfolio includes implantable devices, surgical products and preservation technologies designed to treat diseases of the heart and aorta.

Its products include the On-X mechanical heart valve, aortic stent grafts and surgical grafts, as well as BioGlue Surgical Adhesive and other products used to control bleeding and reinforce tissue during cardiovascular procedures.