Cryoport (NASDAQ:CYRX) Announces Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Cryoport (NASDAQ:CYRXGet Rating) announced its earnings results on Thursday. The consumer goods maker reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.08), Briefing.com reports. Cryoport had a negative net margin of 128.78% and a negative return on equity of 13.79%. The firm had revenue of $64.20 million for the quarter, compared to the consensus estimate of $64.58 million. During the same period in the prior year, the business earned ($0.16) EPS. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. Cryoport updated its FY 2022 guidance to EPS.

Cryoport Stock Up 6.7 %

NASDAQ CYRX traded up $2.47 during trading on Friday, reaching $39.40. 482,255 shares of the company’s stock were exchanged, compared to its average volume of 522,867. Cryoport has a fifty-two week low of $19.82 and a fifty-two week high of $86.30. The firm has a market capitalization of $1.95 billion, a PE ratio of -6.45 and a beta of 1.13. The company has a current ratio of 14.98, a quick ratio of 14.48 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $30.98 and its 200-day simple moving average is $31.47.

Wall Street Analysts Forecast Growth

CYRX has been the subject of several research reports. BTIG Research decreased their target price on Cryoport from $95.00 to $60.00 in a research note on Friday, May 6th. Needham & Company LLC raised their target price on Cryoport from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, July 12th. Roth Capital decreased their price target on Cryoport from $90.00 to $67.00 in a research report on Tuesday, May 3rd. KeyCorp decreased their price target on Cryoport from $92.00 to $52.00 in a research report on Friday, May 6th. Finally, B. Riley decreased their price target on Cryoport from $61.00 to $55.00 in a research report on Tuesday, May 17th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Cryoport has a consensus rating of “Buy” and an average target price of $61.33.

Institutional Investors Weigh In On Cryoport

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Cryoport by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 3,515,305 shares of the consumer goods maker’s stock worth $122,720,000 after acquiring an additional 159,133 shares during the period. Invesco Ltd. raised its stake in shares of Cryoport by 17.7% during the 1st quarter. Invesco Ltd. now owns 3,228,313 shares of the consumer goods maker’s stock worth $112,700,000 after purchasing an additional 485,972 shares in the last quarter. BlackRock Inc. raised its stake in shares of Cryoport by 2.0% during the 1st quarter. BlackRock Inc. now owns 3,028,269 shares of the consumer goods maker’s stock worth $105,718,000 after purchasing an additional 59,877 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Cryoport by 21.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,207,444 shares of the consumer goods maker’s stock worth $42,152,000 after purchasing an additional 216,590 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Cryoport by 14.3% during the 1st quarter. State Street Corp now owns 1,058,900 shares of the consumer goods maker’s stock worth $36,966,000 after purchasing an additional 132,231 shares in the last quarter.

Cryoport Company Profile

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Cryoport, Inc, a life sciences services company, provides temperature-controlled logistics solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoportal, a cloud-based logistics management platform that supports the management of shipments, which includes order entry, document preparation, customs documentation, courier management, real-time shipment tracking and monitoring, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, which is used to ensure that the stability of shipped biologic commodities is maintained throughout the shipping cycle.

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Earnings History for Cryoport (NASDAQ:CYRX)

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