Artivion (NYSE:AORT) Shares Gap Down on Disappointing Earnings

Artivion, Inc. (NYSE:AORT - Get Free Report)'s share price gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $27.85, but opened at $25.80. Artivion shares last traded at $26.11, with a volume of 87,865 shares traded.

The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.51). The company had revenue of $97.31 million for the quarter, compared to analysts' expectations of $100.82 million. Artivion had a positive return on equity of 5.15% and a negative net margin of 0.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JMP Securities restated a "market outperform" rating and issued a $33.00 target price on shares of Artivion in a research note on Tuesday, December 10th. Needham & Company LLC decreased their target price on Artivion from $34.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday. Stifel Nicolaus decreased their target price on Artivion from $33.00 to $30.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Oppenheimer upped their target price on Artivion from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $31.40.

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Insider Activity

In other news, CAO Amy Horton sold 4,329 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $29.66, for a total transaction of $128,398.14. Following the transaction, the chief accounting officer now directly owns 135,660 shares in the company, valued at approximately $4,023,675.60. This represents a 3.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew M. Green sold 7,618 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $30.00, for a total value of $228,540.00. Following the transaction, the vice president now owns 33,503 shares in the company, valued at $1,005,090. This trade represents a 18.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,224 shares of company stock worth $2,162,330. 8.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Artivion

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its position in Artivion by 28.0% during the 3rd quarter. FMR LLC now owns 115,184 shares of the company's stock worth $3,066,000 after acquiring an additional 25,176 shares during the last quarter. Barclays PLC grew its position in Artivion by 346.3% during the 3rd quarter. Barclays PLC now owns 70,877 shares of the company's stock worth $1,888,000 after acquiring an additional 54,996 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Artivion during the 3rd quarter worth approximately $5,798,000. JPMorgan Chase & Co. grew its position in Artivion by 394.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 97,903 shares of the company's stock worth $2,606,000 after acquiring an additional 78,120 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Artivion by 58.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 340,887 shares of the company's stock worth $9,074,000 after acquiring an additional 125,668 shares during the last quarter. 86.37% of the stock is currently owned by institutional investors.

Artivion Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.33 and a current ratio of 1.88. The firm has a 50-day moving average of $29.58 and a 200-day moving average of $27.80. The firm has a market capitalization of $1.06 billion, a P/E ratio of -1,267.00 and a beta of 1.75.

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.