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Lance A. Berry, the Executive Vice President and Chief Financial Officer of Artivion, Inc. (NYSE:AORT), a company currently valued at approximately $990 million, recently executed a transaction involving the company’s common stock. On March 6, Berry sold 4,909 shares at an average price of $24.80 per share, resulting in a total sale of approximately $121,763. According to InvestingPro data, the stock has shown significant volatility recently, with the price declining about 18% year-to-date. This transaction was conducted to cover tax withholding obligations related to the vesting of performance stock units, according to the company’s SEC filing.
In addition to the sale, Berry acquired 48,100 shares of common stock at no cost as part of a performance stock unit grant. Following these transactions, Berry’s direct ownership of Artivion’s common stock stands at 153,431 shares.
In other recent news, Artivion Inc. reported fourth-quarter 2024 earnings with revenue of $97.3 million, which fell short of the forecasted $100.82 million. This shortfall was attributed to a cybersecurity breach that impacted sales by approximately $4.5 million. Despite this, Artivion’s adjusted EBITDA for the quarter exceeded expectations, reaching $17.6 million compared to the anticipated $17 million. For the full year 2024, the company’s revenue totaled $388.5 million, slightly below the guidance range of $389 million to $396 million.
Looking ahead, Artivion projects its 2025 revenue to be between $420 million and $435 million, anticipating a 10% to 14% growth. The company also expects adjusted EBITDA to be between $83 million and $91 million, which is favorable compared to prior projections. Analysts from Stifel, Needham, and JMP Securities have maintained a Buy rating on Artivion’s stock, although Stifel and Needham have lowered their price targets to $30 and $32, respectively, due to the impact of the cybersecurity incident.
Artivion’s management has indicated that the effects of the cybersecurity breach will continue to impact the first quarter of 2025, with projected revenues between $94 million and $98 million. However, they are optimistic about a rebound in sales growth throughout the year. Additionally, Artivion’s product performance showed mixed results, with growth in the On-X line and stent grafts, while Preservation Services experienced a decline. Despite challenges, the company remains focused on recovering from the disruption and aims to mitigate the impact over the course of the year.
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