Artivion (NYSE:AORT) Shares Gap Up - Here's Why

Artivion, Inc. (NYSE:AORT - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $26.53, but opened at $27.21. Artivion shares last traded at $27.55, with a volume of 34,778 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and issued a $30.00 target price on shares of Artivion in a report on Friday, September 27th. JMP Securities assumed coverage on Artivion in a research note on Wednesday. They set an "outperform" rating and a $33.00 price objective on the stock. Oppenheimer boosted their target price on shares of Artivion from $25.00 to $30.00 and gave the stock an "outperform" rating in a research report on Friday, August 9th. Stifel Nicolaus increased their price target on Artivion from $28.00 to $30.00 and gave the company a "buy" rating in a report on Friday, September 13th. Finally, Lake Street Capital lifted their price objective on Artivion from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Artivion currently has an average rating of "Buy" and a consensus target price of $30.60.

Artivion Stock Up 1.2 %

The company has a current ratio of 5.63, a quick ratio of 4.04 and a debt-to-equity ratio of 1.07. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -110.54 and a beta of 1.74. The business has a fifty day moving average price of $25.80 and a two-hundred day moving average price of $24.58.

Artivion (NYSE:AORT - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.04. The business had revenue of $98.02 million during the quarter, compared to analyst estimates of $97.70 million. Artivion had a positive return on equity of 3.81% and a negative net margin of 2.22%. On average, equities analysts predict that Artivion, Inc. will post 0.2 earnings per share for the current year.

Insider Activity at Artivion

In related news, SVP Jean F. Holloway sold 3,167 shares of Artivion stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $26.55, for a total transaction of $84,083.85. Following the sale, the senior vice president now directly owns 161,932 shares of the company's stock, valued at $4,299,294.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Amy Horton sold 12,430 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $26.18, for a total value of $325,417.40. Following the transaction, the chief accounting officer now owns 139,989 shares in the company, valued at $3,664,912.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jean F. Holloway sold 3,167 shares of Artivion stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $26.55, for a total transaction of $84,083.85. Following the sale, the senior vice president now owns 161,932 shares of the company's stock, valued at approximately $4,299,294.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,109 shares of company stock worth $951,935. 8.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Artivion

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in shares of Artivion by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 15,301 shares of the company's stock worth $392,000 after acquiring an additional 481 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Artivion by 38.6% in the first quarter. GAMMA Investing LLC now owns 1,814 shares of the company's stock valued at $38,000 after buying an additional 505 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Artivion by 3.1% during the second quarter. Louisiana State Employees Retirement System now owns 19,900 shares of the company's stock worth $510,000 after acquiring an additional 600 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Artivion by 2.0% during the first quarter. Texas Permanent School Fund Corp now owns 34,129 shares of the company's stock worth $722,000 after acquiring an additional 677 shares during the period. Finally, nVerses Capital LLC bought a new stake in Artivion in the 2nd quarter valued at $28,000. 86.37% of the stock is owned by institutional investors.

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.