Canaccord Genuity Initiates Coverage on Cryolife Inc to Buy

Canaccord Genuity Initiates Coverage on Cryolife Inc(NYSE:CRY). The shares have been rated Buy. The rating by Canaccord Genuity was issued on Apr 13, 2016.

Cryolife Inc (CRY) made into the market gainers list on Fridays trading session with the shares advancing 1.35% or 0.16 points. Due to strong positive momentum, the stock ended at $11.99, which is also near the day’s high of $12.01. The stock began the session at $11.79 and the volume stood at 1,39,518 shares. The 52-week high of the shares is $12.01 and the 52 week low is $8.94. The company has a current market capitalization of $391 M and it has 3,25,75,228 shares in outstanding.

Cryolife Inc(CRY) last announced its earnings results on Feb 16, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $39.84M. Analysts had an estimated revenue of $40.04M. Earnings per share were $0.13. Analysts had estimated an EPS of $0.05.

Several Insider Transactions has been reported to the SEC. On Mar 9, 2016, C Elkins Ronald (director) sold 2,000 shares at $11.18 per share price.Also, On Mar 4, 2016, James P Mackin (CEO) purchased 10,000 shares at $10.91 per share price.On Mar 1, 2016, David C Gale (VP, Research & Development) sold 150 shares at $9.97 per share price, according to the Form-4 filing with the securities and exchange commission.

CryoLife Inc. (CryoLife) is a medical device company. The Company is engaged in medical device manufacturing and distribution and in the processing and distribution of implantable human tissues for cardiac and vascular surgeries. The Company operates in two segments: Medical Devices and Preservation Services. The Medical Devices segment includes external revenues from product sales of BioGlue BioFoam PerClot CardioGenesis cardiac laser therapy HeRO Graft and ProCol. The Preservation Services segment includes external services revenues from the preservation of cardiac and vascular tissues. The Company’s product BioGlue is a polymer consisting of bovine blood protein and an agent for cross-linking proteins which was developed for use in cardiac vascular pulmonary and surgical applications. The Company developed BioFoam to seal organs such as the liver and for use in cardiovascular surgeries and provide hemostasis in penetrating wounds and trauma.

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