Conestoga Capital Advisors LLC Sells 253,845 Shares of Artivion, Inc. $AORT

Conestoga Capital Advisors LLC lessened its stake in Artivion, Inc. (NYSE:AORT) by 15.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,369,855 shares of the company’s stock after selling 253,845 shares during the period. Conestoga Capital Advisors LLC’s holdings in Artivion were worth $31,260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund grew its holdings in Artivion by 12.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 10,929 shares of the company’s stock worth $249,000 after acquiring an additional 1,200 shares during the period. Vise Technologies Inc. purchased a new position in Artivion during the third quarter valued at approximately $225,000. Pinnacle Wealth Planning Services Inc. raised its position in Artivion by 362.8% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,379 shares of the company’s stock valued at $31,000 after acquiring an additional 1,081 shares in the last quarter. Inspire Investing LLC purchased a new position in Artivion during the third quarter valued at approximately $634,000. Finally, Yousif Capital Management LLC lifted its holdings in Artivion by 13.1% in the third quarter. Yousif Capital Management LLC now owns 12,942 shares of the company’s stock valued at $295,000 after acquiring an additional 1,499 shares during the period. Hedge funds and other institutional investors own 86.37% of the company’s stock.

Insider Activity at Artivion

In other Artivion news, SVP Andrew M. Green sold 11,480 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $24.97, for a total transaction of $286,655.60. Following the completion of the transaction, the senior vice president directly owned 40,160 shares in the company, valued at approximately $1,002,795.20. This represents a 22.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jean F. Holloway sold 977 shares of the company’s stock in a transaction 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 owned 184,118 shares of the company’s stock, valued at $5,245,521.82. This represents a 0.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 90,460 shares of company stock valued at $2,557,366. 6.30% of the stock is owned by company insiders.

Analyst Ratings Changes

AORT has been the topic of several recent research reports. Citigroup restated a “market outperform” rating on shares of Artivion in a research report on Tuesday, July 21st. Weiss Ratings lowered shares of Artivion from a “sell (d+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Canaccord Genuity Group boosted their target price on shares of Artivion from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Needham & Company LLC reissued a “buy” rating and set a $44.00 price target on shares of Artivion in a report on Monday, July 20th. Finally, Wall Street Zen lowered shares of Artivion from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.86.

Artivion Stock Up 11.2%

Shares of AORT opened at $26.37 on Thursday. The firm has a market cap of $1.29 billion, a P/E ratio of 43.91 and a beta of 1.31. Artivion, Inc. has a 12 month low of $19.16 and a 12 month high of $48.25. The stock’s 50 day moving average is $23.72 and its two-hundred day moving average is $29.18. The company has a current ratio of 3.47, a quick ratio of 2.51 and a debt-to-equity ratio of 0.82.

Artivion (NYSE:AORT) last announced its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter. Artivion had a positive return on equity of 6.07% and a negative net margin of 0.67%. The business had revenue of $125.76 million during the quarter, compared to the consensus estimate of $119.99 million. Analysts predict that Artivion, Inc. will post 0.45 earnings per share for the current fiscal year.

Artivion Company Profile

Artivion, Inc (NYSE: AORT) is a medical device and biotechnology company focused on developing and commercializing products used in cardiac and vascular surgery. Its portfolio includes implantable devices, surgical sealants, and human tissue products designed to treat diseases of the heart, aorta, and peripheral blood vessels.

The company’s products include On-X mechanical heart valves, aortic and vascular grafts, BioGlue surgical adhesive, and stent graft systems for aortic repair. Artivion also provides tissue preservation services and distributes cardiac and vascular allografts for use in reconstructive procedures.

Artivion was formerly known as CryoLife, a company founded in 1984, and adopted the Artivion name in 2021 to reflect its broader focus on aortic and cardiac care.