Bank of New York Mellon Corp Grows Stake in Cryolife Inc (CRY)
Bank of New York Mellon Corp lifted its position in shares of Cryolife Inc (NYSE:CRY) by 13.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 400,325 shares of the medical equipment provider’s stock after buying an additional 47,296 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.20% of Cryolife worth $9,087,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in CRY. Municipal Employees Retirement System of Michigan raised its stake in Cryolife by 3.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,380 shares of the medical equipment provider’s stock valued at $127,000 after purchasing an additional 230 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Cryolife by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 6,937 shares of the medical equipment provider’s stock valued at $138,000 after acquiring an additional 1,041 shares during the last quarter. KBC Group NV acquired a new position in shares of Cryolife during the 2nd quarter valued at about $165,000. BNP Paribas Arbitrage SA increased its stake in shares of Cryolife by 67.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,593 shares of the medical equipment provider’s stock valued at $171,000 after acquiring an additional 3,451 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in shares of Cryolife by 161.5% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 10,200 shares of the medical equipment provider’s stock valued at $203,000 after acquiring an additional 6,300 shares during the last quarter. 73.28% of the stock is owned by institutional investors and hedge funds.
In related news, VP David C. Gale sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $19.63, for a total transaction of $392,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James Benson sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $22.80, for a total value of $45,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,190 shares of company stock valued at $1,183,840. 6.00% of the stock is owned by company insiders.
Cryolife Inc (NYSE CRY) opened at $19.35 on Wednesday. The firm has a market capitalization of $701.12, a P/E ratio of 69.11 and a beta of 0.82. Cryolife Inc has a fifty-two week low of $14.02 and a fifty-two week high of $24.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.96 and a quick ratio of 4.90.
Cryolife (NYSE:CRY) last released its quarterly earnings results on Monday, October 30th. The medical equipment provider reported $0.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.08. The firm had revenue of $44.00 million during the quarter, compared to analysts’ expectations of $44.60 million. Cryolife had a return on equity of 6.43% and a net margin of 5.28%. Cryolife’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS. equities analysts forecast that Cryolife Inc will post 0.28 earnings per share for the current year.
A number of research firms have recently commented on CRY. Zacks Investment Research downgraded shares of Cryolife from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Lake Street Capital upped their price objective on shares of Cryolife to $26.00 and gave the company a “buy” rating in a research note on Wednesday, October 11th. Northland Securities reaffirmed a “buy” rating and set a $23.50 price objective on shares of Cryolife in a research note on Monday, November 13th. TheStreet cut Cryolife from a “b” rating to a “c+” rating in a report on Monday, October 30th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $25.00 target price on shares of Cryolife in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $23.63.
CryoLife, Inc (CryoLife) is a medical device manufacturer and processor, and is engaged in the distribution of medical devices and implantable human tissues used in cardiac surgical procedures. The Company operates through two segments: Medical Devices and Preservation Services. The Medical Devices segment includes medical devices, such as BioGlue Surgical Adhesive, BioFoam Surgical Matrix, On-X Life Technologies Holdings, Inc valves and surgical products, CardioGenesis cardiac laser therapy product line, PerClot and PhotoFix.
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