Artivion Inc. (AORT) PT Raised to $39 at Canaccord

Canaccord analyst William Plovanic raised the price target on Artivion Inc. (NYSE: AORT) to $39.00 (from $36.00) while maintaining a Buy rating.

The analyst comments "Bottom Line: Artivion had an operationally productive quarter that sets the company up to execute its long-term strategy and become the dominate player in Aortic Arch surgery. In the quarter, Artivion closed its acquisition of Endospan, received PMA approval for AMDS, and delivered solid Q2 growth in key areas, On-X and Aortic Stent Grafts. The Endospan acquisition will bring NEXUS to the U.S. with commercialization to begin in earnest in 2027 as inventory is built and the commercial groundwork is laid in 2H/26. Moreover, with AMDS’ PMA, it will no longer be constrained by the HDE requirements, allowing the company to sell it unabated, and management expects greater acceleration in AMDS and Aortic Stent Grafts in the second half of 2026. In the quarter, AORT beat estimates and reiterated its FY26 guidance. Q2 revenue of $125.8M (+9% Y/Y CC) beat CGe and consensus of $119.3M and $120.0M, respectively. Adjusted EBITDA of $26.4M was above CGe of $21.6M and consensus of $21.7M. Management noted revenue growth was again driven primarily by On-X and Stent Grafts, including AMDS devices. While not a Q2 event, NEXUS Aortic Arch Stent Graft was approved for new technology add-on payment (NTAP), which will add economic incentive to this differentiated product. Taking a step back, we expect a cadence of staggered, strong revenue growth over the next several quarters from AORT’s key products (AMDS, NEXUS) with continued strength from On-X. Long term we expect growth from Arcevo, the company’s Frozen Elephant Trunk product. Arcevo’s pivotal trial is expected to complete enrollment in mid-27. With a lineup of differentiated, high-margin products ramping over the next several quarters, we maintain our BUY rating and raise our PT to $39 from $36."

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