Artivion stock price target raised to $46 by Stifel on strong On-X valve growth

Investing.com - Stifel raised its price target on Artivion Inc. (NYSE:AORT) to $46.00 from $40.00 on Monday, while maintaining a Buy rating on the cardiac medical device maker. The new target aligns with the broader analyst consensus, with targets ranging from $38.80 to $50.00. According to InvestingPro data, the stock has delivered an impressive 69.32% return over the past six months, though it’s currently trading near its Fair Value.

The price target increase follows Artivion’s unexpectedly strong second-quarter performance, where its On-X mechanical heart valve business grew more than 20%. The On-X franchise represents approximately 22% of Artivion’s estimated 2025 revenues. InvestingPro analysis reveals the company’s solid financial health, with a current ratio of 4.78 and revenue growth of 7.44% over the last twelve months. Get access to 12+ additional exclusive ProTips and comprehensive financial metrics with InvestingPro’s detailed research reports.

Stifel’s research included consultations with five cardiac surgeons to assess current On-X utilization trends. These physicians identified ongoing market share gains from Abbott’s mechanical valve franchise as a key growth driver, primarily due to On-X’s lower warfarin requirements for patients.

The surgeons also noted the influence of a January 2025 paper published in the Journal of the American College of Cardiology (JACC) titled "Bioprosthetic vs Mechanical Aortic Valve Replacement in Patients 40 to 75 Years of Age." While this publication reaffirmed existing utilization patterns among the interviewed physicians, they suggested it might be driving incremental adoption in the broader cardiac surgeon community.

The On-X valve franchise has delivered double-digit compound annual growth since Artivion acquired it in 2016, maintaining this performance trajectory for nearly a decade.

In other recent news, Artivion Inc. has reported strong second-quarter results, with revenues reaching $113 million. This figure surpassed the consensus projections of approximately $108 million, reflecting a 14% year-over-year organic revenue growth. Notably, the company achieved significant growth through its AMDS stent and stent-graft products in the United States. Following these results, Artivion increased its 2025 revenue and EBITDA guidance. Analysts have responded to these developments with varied adjustments to their price targets. Needham raised its price target for Artivion to $50, citing positive developments with Endospan’s NEXUS stent graft system. Stifel and Canaccord Genuity also raised their price targets to $40 and $41, respectively, while maintaining Buy ratings. Conversely, Oppenheimer adjusted its price target slightly down to $40 but kept an Outperform rating. These updates highlight the company’s strong performance and ongoing analyst interest.

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