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Jean F. Holloway, Senior Vice President and General Counsel at Artivion, Inc. (NYSE:AORT), a medical device company with a market capitalization of approximately $993 million, recently executed a series of stock transactions, according to a recent SEC filing. According to InvestingPro data, the stock is currently showing signs of being oversold, with analyst price targets ranging from $30 to $35. On March 11, Holloway sold 18,020 shares of Artivion’s common stock, generating approximately $425,509. The shares were sold at a weighted average price of $23.6132, with individual sale prices ranging from $23.220 to $23.895.
In a related transaction, Holloway exercised stock options to acquire 19,092 shares at a price of $21.55 per share, amounting to a transaction total of $411,432. These transactions were conducted under a 10b5-1 trading plan established by Holloway in August 2024. Following these transactions, Holloway holds 197,184 shares of the company.
In other recent news, Artivion Inc. reported its fourth-quarter 2024 earnings, revealing a revenue of $97.3 million, which fell short of the forecasted $100.82 million. This shortfall was attributed to a cybersecurity incident that impacted sales by approximately $4.5 million. Despite the revenue miss, Artivion’s adjusted EBITDA for the quarter exceeded expectations, reaching $17.6 million, a 15% increase year-over-year. Analysts from Stifel, Needham, and JMP Securities have adjusted their outlooks on Artivion, with Stifel and Needham lowering their price targets to $30 and $32, respectively, while JMP maintained its $33 target. The cybersecurity breach affected Artivion’s tissue preservation division, which saw an 8% decline year-over-year, and extended lead times for product deliveries. Management anticipates that the effects of the cybersecurity incident will continue into the first quarter of 2025 but expects a recovery in sales growth throughout the year. Artivion projects 2025 revenue to be between $420 million and $435 million, with adjusted EBITDA anticipated to reach between $84 million and $91 million.
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