Royal Bank of Canada Raises Stock Position in Artivion, Inc. $AORT

Royal Bank of Canada lifted its holdings in Artivion, Inc. (NYSE:AORT) by 73.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 93,676 shares of the company’s stock after buying an additional 39,553 shares during the period. Royal Bank of Canada’s holdings in Artivion were worth $3,430,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Conestoga Capital Advisors LLC bought a new position in shares of Artivion in the 1st quarter valued at about $43,044,000. Summit Partners Public Asset Management LLC bought a new stake in Artivion during the fourth quarter worth approximately $39,401,000. Invesco Ltd. increased its stake in Artivion by 211.9% during the fourth quarter. Invesco Ltd. now owns 1,101,239 shares of the company’s stock worth $50,228,000 after acquiring an additional 748,119 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Artivion by 144.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 537,375 shares of the company’s stock valued at $24,510,000 after purchasing an additional 317,518 shares during the period. Finally, Two Sigma Investments LP raised its position in Artivion by 235.5% during the third quarter. Two Sigma Investments LP now owns 446,535 shares of the company’s stock valued at $18,906,000 after purchasing an additional 313,446 shares during the period. 86.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Artivion

In other Artivion news, SVP Andrew M. Green sold 44,001 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $20.70, for a total value of $910,820.70. Following the transaction, the senior vice president directly owned 60,259 shares in the company, valued at $1,247,361.30. This represents a 42.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jean F. Holloway sold 977 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $28.49, for a total transaction of $27,834.73. Following the transaction, the senior vice president directly owned 184,118 shares in the company, valued at approximately $5,245,521.82. This trade represents a 0.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Citigroup reiterated a “market outperform” rating on shares of Artivion in a report on Tuesday, July 21st. Stifel Nicolaus set a $45.00 price target on Artivion in a report on Monday, June 1st. Needham & Company LLC restated a “buy” rating and issued a $44.00 price target on shares of Artivion in a research report on Monday, July 20th. Weiss Ratings lowered shares of Artivion from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Tuesday. Finally, Canaccord Genuity Group set a $39.00 price objective on shares of Artivion in a research report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.67.

Artivion Trading Up 2.8%

Shares of NYSE AORT opened at $29.22 on Friday. Artivion, Inc. has a fifty-two week low of $19.16 and a fifty-two week high of $48.25. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.51 and a current ratio of 3.47. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -417.33 and a beta of 1.25. The business’s 50 day moving average price is $24.28 and its 200-day moving average price is $30.59.

Artivion (NYSE:AORT) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter. Artivion had a positive return on equity of 6.07% and a negative net margin of 0.67%.The company had revenue of $125.76 million during the quarter, compared to analysts’ expectations of $119.99 million. On average, sell-side analysts expect that Artivion, Inc. will post 0.45 earnings per share for the current year.

Artivion Profile

Artivion, Inc (NYSE: AORT) is a global medical technology company that develops, manufactures and markets implantable tissue products and surgical devices for cardiac and vascular surgery. The company’s portfolio includes biologic implants derived from human and animal tissue, such as allografts and xenografts, as well as synthetic scaffolds and surgical adhesives. These products are designed to repair, reinforce or replace damaged cardiovascular and thoracic tissues during procedures such as aortic repair, heart valve surgery and vascular reconstruction.

Originally founded in 1984 under the name CryoLife, the company rebranded as Artivion in early 2022 to reflect its broader mission in cardiovascular innovation.