Artivion Inc. (AORT) PT Raised to $30 at Oppenheimer

Oppenheimer analyst Suraj Kalia raised the price target on Artivion Inc. (NYSE: AORT) to $30.00 (from $25.00) while maintaining a Outperform rating.

The analyst commented: "Artivion reported 2Q24 revenue of $98.0M, +10% y/y (pro forma, CC), in line with our/consensus estimates of $98.0M/$97.6M. Aortic stents/grafts (+14%), On-X +15%. AMDS PMA late-2025E. Endospan NEXUS trial enrollment by end-2024E, approval in 2H 2026E. The company bumped low-end of FY24 revenue guidance again, now $388-396M (was $386–396M) vs. our/consensus $393M/$391M estimates. Long-term management comfortable about double-digit top-line growth and growing the bottom line, at least 2x that. The company continues to perform and beat/match expectations. AMDS & NEXUS (assuming current timelines hold) could help propel growth into the high-teens range. Revising estimates/PT for 2Q results and FY24 guide."

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