Cryolife Gets a Buy Rating from Canaccord Genuity

By Carrie Williams

Canaccord Genuity analyst Jason Mills reiterated a Buy rating on Cryolife (NYSE: CRY) on October 8 and set a price target of $25. The company’s shares closed yesterday at $21.30.

According to TipRanks.com, Mills is a top 100 analyst with an average return of 21.2% and a 74.0% success rate. Mills covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Trivascular Technologies, and Obalon Therapeutics Inc.

Currently, the analyst consensus on Cryolife is Moderate Buy and the average price target is $24.25, representing a 13.8% upside.

In a report released yesterday, Northland Securities also assigned a Buy rating to the stock with a $23.50 price target.

Based on Cryolife’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $47.82 million and quarterly net profit of $3.1 million. In comparison, last year the company earned revenue of $45.25 million and had a net profit of $2.94 million.

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CryoLife, Inc. is a medical devices company, which engages in the processing and distribution of implantable human tissues for use in cardiac and vascular surgeries. It operates through the Medical Devices and Preservation Services segments.