Artivion (AORT – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Frank Takkinen from Lake Street remains neutral on the stock and has a $28.00 price target.
Frank Takkinen’s Buy rating for Artivion (AORT) is driven by a combination of factors. Firstly, two important products in Artivion’s portfolio have shown positive clinical outcomes. The interim readout from the AMDS PERSEVERE clinical trial demonstrated a clinically meaningful reduction of all-cause mortality with 79% of the 60 patients not experiencing any major adverse events, far above the threshold for product approval. This result is seen as a significant de-risking event in favor of AMDS launch in 2025, a product predicted to generate around $100M in the US market post-launch.
Additionally, the real-world data from the post-market study of On-X for aortic heart valve replacements treated with low dose warfarin produced favorable results, better than the IDE pivotal trial. On-X is already a market-leading mechanical valve and a business generating $70M+ for Artivion, growing in double digits. This new data is expected to act as another growth driver for the On-X portfolio. Overall, both the AMDS and On-X data sets are indicative of potential long-term drivers of growth and margin improvement for Artivion, which is expected to support an upside in AORT shares.
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Artivion (AORT) Company Description:
CryoLife, Inc. engages in the manufacture, process and distribution of medical devices. It operates through the following segments: Medical Devices and Preservation Services. The Medical Devices segment includes revenues from sales of BioGlue; JOTEC products, On-X products, CardioGenesis cardiac laser therapy, PerClot and PhotoFix. The Preservation Services segment focuses on external services revenues from the preservation of cardiac and vascular tissues. The company was founded on January 19, 1984 and is headquartered in Kennesaw, GA.
