CryoLife, Inc. (NYSE: CRY), a leading cardiac and vascular surgery company focused on aortic disease, announced today it has taken multiple steps to focus on the health and welfare of its employees, patients, and customers.

Medical device stock CryoLife (CRY) has pre-announced below-consensus 1Q20 revenue of $65.5M, slightly below prior guidance of $67–69M. As well as providing preserved human tissues and state-of-the-art cardiovascular surgery training, CRY also develops mechanical heart valves, surgical adhesives and cardiac lasers.Management also withdrew its 2020 financial guidance citing Covid-19 uncertainty. Additionally, CRY preemptively drew down its $30M revolver and ended 1Q20 with $60M in cash.CRY is managing its operating expenses, including implementing a hiring freeze, limiting most discretionary spending and capital spending, and deferring longer-term R&D and clinical research programs.“While CRY’s revenue growth is likely to suffer from the COVID-19 pandemic, we think its mix of more urgent procedures and strong product cycle may allow it to fare better than companies with mostly elective procedure exposure” wrote Needham analyst Mike Matson following the announcement. He estimates the company has about $245M of debt.“We have lowered our price target to $29 from $38 due to peer multiple compression and maintained our Buy rating” the analyst continued. With shares trading down close to 40% year-to-date, his new price target still suggests upside potential of over 75% from current levels.Indeed, the stock boasts a confident Strong Buy consensus from the Street. TipRanks shows that the average analyst price target stands at $26.50. (See CRY stock analysis on TipRanks) “CRY will be “like a coiled spring once things normalize” added Oppenheimer’s Suraj Kalia on April 1.Related News: Sprint, T-Mobile Finally Complete Merger General Motors US Sales Hit in 1Q as Coronavirus Keeps Buyers Away FTC Sues to Unwind Altria Group’s $12.8 Billion Investment in JUUL More recent articles from Smarter Analyst: * Johnson & Johnson Announces Q1 Earnings Beat, Increases Dividend * Co-Diagnostics Inks Covid-19 Test Agreement, YTD Gain Over 1000% * Chesapeake Shareholders Approve Controversial Reverse Stock Split * Exxon Raises $9.5 Billion In Yet Another Massive Bond Deal

Q4 2019 CryoLife Inc Earnings Call

Q1 2020 CryoLife Inc Earnings Call

CryoLife, Inc. (NYSE:CRY) shareholders might be concerned after seeing the share price drop 14% in the last quarter...

CryoLife's (CRY) On-X AAP completes the company's On-Xs heart valve portfolio.

CryoLife, Inc. (NYSE: CRY), a leading cardiac and vascular surgery company focused on aortic disease, announced today that it has received CE Mark for the E-vita Open NEO, a hybrid stent graft system for the treatment of aortic arch disease.

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CryoLife, Inc. (NYSE: CRY), a leading cardiac and vascular surgery company focused on aortic disease, announced today that 2019 fourth quarter and year-end financial results will be released on Thursday, February 13, 2020 after the market closes. On that day, the Company will hold a teleconference call and live webcast at 4:30 p.m. ET to discuss the results, followed by a question and answer session hosted by Pat Mackin, Chairman, President and Chief Executive Officer of CryoLife, Inc.

In 2014 Pat MacKin was appointed CEO of CryoLife, Inc. (NYSE:CRY). This analysis aims first to contrast CEO...

Fourth Quarter and Recent Business Highlights:

It is now my pleasure to introduce your host, Lynn Lewis from Gilmartin Group. Joining me today from CryoLife's management team are Pat Mackin, CEO, and Ashley Lee, CFO. Comments made on this call that look forward in time involve risks and uncertainties and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

CryoLife, Inc. ("CryoLife"; NYSE: CRY), a leading cardiac and vascular surgery company focused on aortic disease, announced today that it has entered into an agreement whereby Misonix (NASDAQ: MSON) will have exclusive US commercialization rights for CryoLife's NeoPatch product to treat a broad range of indications outside of cardiac and vascular surgery.

CryoLife, Inc. (NYSE: CRY), a leading cardiac and vascular surgery company focused on aortic disease, announced today that 2020 first quarter financial results will be released on Thursday, April 30, 2020 after the market closes. On that day, the Company will hold a teleconference call and live webcast at 4:30 p.m. ET to discuss the results, followed by a question and answer session hosted by Pat Mackin, Chairman, President and Chief Executive Officer of CryoLife, Inc.

Zacks.com featured highlights include: Carrols, Braskem, FirstService and CryoLife

CryoLife (CRY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

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CryoLife, Inc. (NYSE: CRY), a leading cardiac and vascular surgery company focused on aortic disease, announced today that it has received authorization from the U.S. Food and Drug Administration (FDA) pursuant to an Investigational New Drug (IND) application to begin the PROACT Xa clinical trial, a prospective, randomized, trial to determine if patients with an On-X mechanical aortic valve can be maintained safely and effectively on apixaban (Eliquis®) rather than warfarin.

NEW YORK, NY / ACCESSWIRE / April 2, 2020 / Levi & Korsinsky announces it has commenced an investigation of CryoLife, Inc. (NYSE:CRY) concerning possible breaches of fiduciary duty. To obtain additional ...

CryoLife (CRY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.