Cryolife Gets a Buy Rating from Northland Securities

By Jason Carr

In a report released today, Suraj Kalia from Northland Securities reiterated a Buy rating on Cryolife (NYSE: CRY), with a price target of $23.50. The company’s shares closed on Friday at $18.65.

According to TipRanks.com, Kalia is a 4-star analyst with an average return of 7.6% and a 54.0% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Obalon Therapeutics Inc, and Apollo Endosurgery Inc.

Currently, the analyst consensus on Cryolife is Moderate Buy and the average price target is $24.25, representing a 30.0% upside.

In a report issued on October 31, Canaccord Genuity also reiterated a Buy rating on the stock with a $25 price target.

Based on Cryolife’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $44 million and quarterly net profit of $1.3 million. In comparison, last year the company earned revenue of $45.25 million and had a net profit of $2.94 million.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock.

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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.