Lake Street Initiates Coverage on Cryolife Inc to Buy

Lake Street Initiates Coverage on Cryolife Inc(NYSE:CRY). The shares have been rated Buy. The rating by Lake Street was issued on Jun 15, 2016.

Cryolife Inc (CRY) shares turned negative on Tuesdays trading session with the shares closing down -0.04 points or -0.33% at a volume of 1,09,534. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $12.09. The peak price level was also seen at $12.09 while the days lowest was $11.85. Finally the shares closed at $12. The 52-week high of the shares is $13 while the 52-week low is $8.94. According to the latest information available, the market cap of the company is $391 M.

Cryolife Inc(CRY) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $43.02M. Analysts had an estimated revenue of $41.14M. Earnings per share were $0.10.

Several Insider Transactions has been reported to the SEC. On Jun 3, 2016, Ronald D Mccall (director) sold 10,000 shares at $11.56 per share price.Also, On May 12, 2016, James Benson (director) sold 5,000 shares at $12.22 per share price.On Apr 19, 2016, C Elkins Ronald (director) sold 1,000 shares at $12.00 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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