John Davis, an insider at Artivion, Inc. (NYSE:AORT), sold 6,394 shares of the company’s stock on November 17, 2023, in a transaction valued at $288,816.98. The shares were sold at an average price of $45.17 each. Following this sale, Davis’s ownership in Artivion decreased by 3.12%, leaving him with 198,842 shares valued at approximately $8,981,693.14.
The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available on the SEC’s website. This sale comes as Artivion’s stock opened at $44.67 on Thursday, reflecting a 0.4% decline.
Artivion’s Financial Overview and Recent Performance
Artivion has shown significant volatility over the past year, with a low of $21.97 and a high of $48.04. The company currently holds a market capitalization of $2.12 billion. Financial indicators include a debt-to-equity ratio of 0.52, a quick ratio of 3.48, and a current ratio of 4.78. The price-to-earnings ratio stands at -106.35, while the stock has a beta of 1.65, suggesting higher volatility compared to the market.
Artivion released its quarterly earnings data on November 6, 2023, reporting earnings per share (EPS) of $0.16, exceeding analysts’ expectations of $0.14. The company’s revenue for the quarter was $113.39 million, surpassing the consensus estimate of $110.71 million. Although Artivion reported a negative net margin of 4.43%, it achieved a positive return on equity of 5.70%. Year-over-year, quarterly revenue increased by 18.9%.
Analysts have forecasted an EPS of $0.37 for the current fiscal year.
Institutional Investor Activity and Market Insights
Several institutional investors have recently adjusted their stakes in Artivion. Notably, Caitong International Asset Management Co. Ltd acquired a new position worth approximately $27,000 during the third quarter. Hancock Whitney Corp also purchased a new stake valued at around $212,000.
In a significant move, Dark Forest Capital Management LP bought a new position worth about $1,623,000. Meanwhile, Voloridge Investment Management LLC increased its holdings by 442.9%, now owning 220,076 shares valued at $9,318,000. Wasatch Advisors LP also raised its stake by 24.4%, holding 282,391 shares worth $11,956,000 after adding 55,408 shares recently.
Overall, institutional investors and hedge funds own 86.37% of Artivion’s stock, reflecting strong confidence in the company’s future prospects.
Artivion, Inc. specializes in manufacturing, processing, and distributing medical devices and implantable human tissues globally. Their product offerings include BioGlue, a polymer used in various surgical procedures, and PhotoFix, a bovine pericardial patch, among others.
