Pinebridge Investments L.P. Buys 25,413 Shares of Cryolife Inc (NYSE:CRY)

Pinebridge Investments L.P. lifted its stake in Cryolife Inc (NYSE:CRY) by 196.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 38,366 shares of the medical equipment provider’s stock after purchasing an additional 25,413 shares during the quarter. Pinebridge Investments L.P.’s holdings in Cryolife were worth $1,148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Trust Corp raised its stake in shares of Cryolife by 0.6% in the second quarter. Northern Trust Corp now owns 1,179,970 shares of the medical equipment provider’s stock worth $35,316,000 after buying an additional 7,499 shares during the period. Wasatch Advisors Inc. raised its stake in shares of Cryolife by 24.1% in the second quarter. Wasatch Advisors Inc. now owns 618,207 shares of the medical equipment provider’s stock worth $18,503,000 after buying an additional 120,031 shares during the period. William Blair Investment Management LLC raised its stake in shares of Cryolife by 41.5% in the first quarter. William Blair Investment Management LLC now owns 533,110 shares of the medical equipment provider’s stock worth $15,551,000 after buying an additional 156,485 shares during the period. Royce & Associates LP raised its stake in shares of Cryolife by 34.4% in the first quarter. Royce & Associates LP now owns 371,417 shares of the medical equipment provider’s stock worth $10,834,000 after buying an additional 95,109 shares during the period. Finally, Elk Creek Partners LLC raised its stake in shares of Cryolife by 26.3% in the first quarter. Elk Creek Partners LLC now owns 329,539 shares of the medical equipment provider’s stock worth $9,613,000 after buying an additional 68,668 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently commented on the company. Canaccord Genuity set a $35.00 price objective on Cryolife and gave the stock a “buy” rating in a research note on Wednesday, July 31st. ValuEngine raised Cryolife from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 12th. Finally, TheStreet downgraded Cryolife from a “b-” rating to a “c+” rating in a research note on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.91.

CRY traded down $0.23 on Thursday, hitting $29.10. 3,065 shares of the company’s stock traded hands, compared to its average volume of 187,477. The company’s 50 day simple moving average is $27.20 and its 200-day simple moving average is $29.02. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 111.98 and a beta of 0.65. Cryolife Inc has a one year low of $23.99 and a one year high of $36.05. The company has a current ratio of 5.03, a quick ratio of 3.82 and a debt-to-equity ratio of 0.83.

Cryolife (NYSE:CRY) last issued its earnings results on Tuesday, July 30th. The medical equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $71.14 million for the quarter, compared to the consensus estimate of $70.79 million. Cryolife had a return on equity of 3.85% and a net margin of 0.87%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.10 EPS. As a group, equities analysts anticipate that Cryolife Inc will post 0.29 EPS for the current fiscal year.

About Cryolife

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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Institutional Ownership by Quarter for Cryolife (NYSE:CRY)

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