Cryolife (NYSE:CRY) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Cryolife (NYSE:CRY) released its quarterly earnings data on Thursday. The medical equipment provider reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01, Fidelity Earnings reports. Cryolife had a positive return on equity of 0.98% and a negative net margin of 4.33%. The company had revenue of $53.77 million during the quarter, compared to the consensus estimate of $51.30 million.
Shares of CRY stock traded up $0.51 on Friday, hitting $19.41. 616,255 shares of the stock traded hands, compared to its average volume of 306,316. The firm has a market cap of $732.53 million, a price-to-earnings ratio of -64.70 and a beta of 1.37. Cryolife has a 52 week low of $12.63 and a 52 week high of $33.00. The firm has a 50 day simple moving average of $19.57 and a two-hundred day simple moving average of $22.63. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.90 and a quick ratio of 3.66.
Several research firms recently commented on CRY. Zacks Investment Research downgraded Cryolife from a “buy” rating to a “hold” rating in a report on Thursday, July 2nd. Needham & Company LLC started coverage on Cryolife in a research note on Tuesday, June 30th. They set a “buy” rating and a $29.00 price target for the company. Lake Street Capital boosted their price target on Cryolife from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Oppenheimer restated a “buy” rating and set a $25.00 price target on shares of Cryolife in a research note on Thursday. Finally, TheStreet downgraded Cryolife from a “c-” rating to a “d+” rating in a research note on Friday, July 10th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $26.20.
Cryolife Company Profile
CryoLife, Inc, together with its subsidiaries, manufactures, processes, and distributes medical devices and implantable human tissues for use in cardiac and vascular surgeries worldwide. The company operates in two segments, Medical Devices and Preservation Services. It offers BioGlue, an agent for cross-linking proteins for cardiac, vascular, pulmonary, and general surgical applications; On-X mechanical heart valves for aortic and mitral indications; cardiac preservation services; PhotoFix, a bovine pericardial patch for use in cardiac and vascular repairing activities; and PerClot, an absorbable powdered hemostat for use in surgical procedures, including cardiac, vascular, orthopedic, neurological, gynecological, ENT, and trauma surgeries.
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