Artivion AORT shares soared 5.3% in the last trading session to close at $35.22. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 7.3% loss over the past four weeks.
Artivion saw a strong price increase on investors’ optimism driven by the news of the FDA’s premarket approval for the NEXUS Aortic Arch System, developed by Endospan Ltd., its long-standing partner. The approval entitles Artivion to exercise its option to acquire Endospan at any time within 90 days of receiving this notice of FDA approval.
This biological medical device maker is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $115.95 million, up 17.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Artivion, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AORT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Artivion is part of the Zacks Medical – Instruments industry. Treace Medical Concepts TMCI, another stock in the same industry, closed the last trading session 6.9% lower at $1.34. TMCI has returned -12.7% in the past month.
For Treace Medical Concepts, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. This represents a change of -8% from what the company reported a year ago. Treace Medical Concepts currently has a Zacks Rank of #3 (Hold).
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Artivion, Inc. (AORT) : Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
