Artivion, Inc. (NYSE:AORT) reported a significant transaction by one of its top executives, according to a recent filing with the Securities and Exchange Commission. Amy Horton, the company's Vice President and Chief Accounting Officer, engaged in both buying and selling of the company's stock on October 1, 2024.
Horton exercised options to acquire 12,430 shares of common stock at a price of $21.55 per share, amounting to a total transaction value of $267,866. On the same day, she sold an equal number of shares, with the sales transactions totaling $325,414. The shares were sold at a weighted average price of $26.1798, with individual sales prices ranging from $26.00 to $26.62. The transactions were conducted under a pre-established 10b5-1 trading plan, which Horton had adopted on March 11, 2024.
Following the reported transactions, Horton's direct ownership in Artivion, Inc. stands at 139,989 shares. The company, known for its surgical and medical instruments and apparatus, is based in Kennesaw, Georgia, and has been incorporated under the name Artivion, Inc. since a name change from CryoLife Inc. in May 1994.
The reported sales and purchases provide a glimpse into the trading activities of Artivion's insiders and may be of interest to investors monitoring the company's stock performance and insider confidence.
In other recent news, Artivion Inc. has reported robust growth in Q2 2024, with revenue reaching $98 million, a 10% year-over-year increase, and adjusted EBITDA rising by 35%. This growth was primarily driven by key product lines, including On-X, stent grafts, BioGlue, and tissue processing. The company also expanded its regulatory approvals and commercial footprint in Latin America and Asia-Pacific, and amended its credit facility.
Artivion Inc. has also raised its revenue guidance for 2024, predicting a 10%-12% growth in constant currency terms, and an adjusted EBITDA between $69 million and $72 million. In other developments, a Needham analyst maintained a Buy rating on Artivion Inc., focusing on the company's Aortic Molding and Dissection Stabilization (AMDS) system.
The analyst projects that the AMDS could contribute significantly to Artivion's growth following its anticipated approval by the FDA in the second half of 2025. It is estimated that from 2025 to 2029, AMDS could add an average of 2.6% to the company's annual revenue growth and 5.3% to its annual EBITDA growth. These are the latest developments in the company's progress.
InvestingPro Insights
To complement the recent insider transaction report for Artivion, Inc. (NYSE:AORT), InvestingPro data offers additional context for investors. The company's market capitalization stands at $1.11 billion, reflecting its position in the surgical and medical instruments sector.
Artivion's financial performance shows promise, with revenue growth of 14.68% over the last twelve months as of Q2 2024, reaching $376.97 million. This growth trend aligns with an InvestingPro Tip suggesting that net income is expected to grow this year. Moreover, analysts predict the company will be profitable this year, which could be a turning point for Artivion given its current negative earnings per share.
The stock has demonstrated strong performance, with a 73.13% price total return over the past year. This impressive gain is further supported by another InvestingPro Tip indicating a large price uptick over the last six months, which investors may find particularly relevant in light of the recent insider transactions.
For those seeking a deeper analysis, InvestingPro offers 11 additional tips for Artivion, providing a more comprehensive view of the company's financial health and market position. These insights can be valuable for investors looking to make informed decisions based on both insider activity and broader market data.
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