Artivion, Inc.
- Open
- 27.05
- Day high
- 27.07
- Day low
- 27.05
- Prev close
- 26.99
- Volume
- 5K
- Mkt cap
- $1.3B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 3.0
- P/S
- 2.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$3.0M over the last 3 months (0 open-market buys, 6 sales)
Artivion, Inc. (AORT) is a Healthcare company listed on NYSE. The stock is down 39% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 6 sales (SEC Form 4). Drillr has 1 published research article covering AORT.
Artivion, Inc. (AORT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AORT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $0.00 | $-0.28 | -11300.0% | $126M | +4.8% |
| May 7, 2026 | $0.06 | $0.08 | +33.3% | $116M | +0.6% |
| Feb 12, 2026 | $0.14 | $0.17 | +21.4% | $116M | +2.8% |
| Nov 6, 2025 | $0.14 | $0.16 | +14.3% | $113M | -2.6% |
| Aug 7, 2025 | $0.11 | $0.24 | +118.2% | $113M | +5.1% |
| Nov 7, 2024 | $0.10 | $0.12 | +20.6% | $96M | -5.3% |
| Aug 8, 2024 | $-0.49 | $0.07 | +114.3% | $98M | +0.4% |
| Feb 15, 2024 | $-0.13 | $0.11 | +184.6% | $94M | +5.1% |
| Nov 2, 2023 | $-0.01 | $0.02 | +313.9% | $88M | +4.4% |
| Aug 3, 2023 | $0.06 | $0.06 | +7.9% | $89M | +5.9% |
| May 4, 2023 | $-0.07 | $0.02 | +127.6% | $83M | +3.5% |
| Feb 16, 2023 | $-0.17 | $0.10 | +158.8% | $79M | -1.0% |
AORT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 20, 2026 | Mackin James Pofficer: President & CEO | Sell | 70,000 | $28.95 |
| Aug 17, 2026 | GREEN ANDREW Mofficer: SVP, Regulatory and Quality | Sell | 616 | $28.55 |
| Aug 17, 2026 | Berry Lance Aofficer: EVP, COO, CFO & Treasurer | Sell | 715 | $28.55 |
| Aug 12, 2026 | Holloway Jean Fofficer: SVP, General Counsel | Sell | 977 | $28.49 |
| Jun 15, 2026 | GREEN ANDREW Mofficer: SVP, Regulatory and Quality | Option | 14,001 | $18.44 |
| Jun 15, 2026 | GREEN ANDREW Mofficer: SVP, Regulatory and Quality | Sell | 30,000 | $20.69 |
| Jun 15, 2026 | GREEN ANDREW Mofficer: SVP, Regulatory and Quality | Option | 30,000 | $11.03 |
| Jun 15, 2026 | GREEN ANDREW Mofficer: SVP, Regulatory and Quality | Sell | 14,001 | $20.71 |
| May 20, 2026 | Burbank Jeffrey Hdirector | Grant | 7,576 | — |
| May 20, 2026 | Borgstrom Marna Pdirector | Grant | 7,576 | — |
| May 20, 2026 | Bullock Jamesdirector | Grant | 7,576 | — |
| May 20, 2026 | Hoff Elizabeth Adirector | Grant | 7,576 | — |
| May 20, 2026 | BEVEVINO DANIEL Jdirector | Grant | 7,576 | — |
| May 20, 2026 | Salveson Jon Wdirector | Grant | 7,576 | — |
| May 20, 2026 | ACKERMAN THOMAS Fdirector | Grant | 7,576 | — |
Source: AORT SEC Form 4 filings, latest Aug 20, 2026. For informational purposes only — not investment advice.
See the full AORT insider & 13F page →AORT research & analysis
Artivion, Inc. company profile
Overview
Artivion, Inc. (NYSE:AORT) is a specialized medical device company founded in 1984 and headquartered in Kennesaw, Georgia. Originally known as CryoLife, Inc., the company rebranded to Artivion in January 2022 to better reflect its focus on aortic and cardiovascular innovations. The company has been publicly traded since 1993 and operates as a global manufacturer and distributor of medical devices and implantable human tissues, serving cardiac, vascular, thoracic, and general surgeons worldwide. Artivion has established itself as a key player in the cardiovascular surgery market through both organic growth and strategic acquisitions, with a particular emphasis on treating complex aortic diseases and heart valve replacements.
Business
Artivion operates in the specialized medical device industry, focusing on cardiovascular surgery solutions. The company's business spans four primary segments that address different aspects of heart and vascular surgery. The Stent Graft segment represents the company's largest growth driver, accounting for approximately 35-40% of revenues. This division produces endovascular devices used to treat aortic aneurysms and dissections - life-threatening conditions where the aorta (the body's main artery) weakens or tears. Key products include the E-vita series for thoracic aortic repairs, E-tegra for abdominal aortic aneurysms, and the revolutionary AMDS (Acute Mechanical Dissection Stent) system for emergency aortic dissections. These devices allow surgeons to repair damaged arteries from inside the blood vessel using minimally invasive techniques, rather than requiring open-chest surgery. The On-X Mechanical Heart Valves segment contributes roughly 25-30% of revenues and manufactures artificial heart valves that replace diseased natural valves. The On-X valve is made from pyrolytic carbon and is designed to last a patient's lifetime, making it particularly suitable for younger patients who would otherwise require multiple surgeries with biological valves that wear out over time. The company's clinical data shows significant reductions in bleeding complications compared to competing mechanical valves. BioGlue and Tissue Processing together account for approximately 30-35% of revenues. BioGlue is a surgical adhesive made from bovine blood protein that helps seal tissue during cardiac, vascular, and other surgical procedures. The tissue processing division preserves and distributes human cardiac and vascular tissues for transplantation, including heart valves, arteries, and veins that are cryopreserved (frozen at extremely low temperatures) for later surgical use. The company also produces various other specialized products including PerClot (a powder that stops bleeding during surgery), PhotoFix (a bovine tissue patch), and cardiac laser therapy devices, which collectively represent the remaining 5-10% of revenues.
Revenue model
Artivion generates revenue primarily through direct product sales to hospitals, surgical centers, and healthcare facilities globally. The company's customers are primarily cardiac surgeons, vascular surgeons, and thoracic surgeons who purchase these specialized devices for specific surgical procedures. The business model varies by product segment. For manufactured devices like stent grafts, On-X valves, and BioGlue, Artivion operates as a traditional medical device manufacturer with standard product margins. The tissue processing business operates differently, as the company receives donated human tissues, processes and preserves them through cryogenic techniques, then distributes them to hospitals for transplantation procedures - essentially acting as a specialized tissue bank with processing fees. Several factors significantly impact the company's margins and profitability. Positive margin drivers include the company's ability to command premium pricing for differentiated products with strong clinical data, particularly the On-X valve and AMDS system. International expansion, especially in Latin America and Asia-Pacific markets, provides growth opportunities with potentially higher margins. The company's direct sales model eliminates distributor markups in key markets. Margin pressure factors include intense competition from larger medical device companies like Medtronic and Edwards Lifesciences, regulatory compliance costs for FDA approvals and international certifications, and raw material inflation affecting manufacturing costs. The tissue processing business faces supply constraints based on organ donation rates, which can limit growth. Currency fluctuations impact international revenues, and the company must invest heavily in clinical trials to support new product approvals, creating significant upfront costs before revenue generation. The company's revenue is also subject to hospital capital equipment budgets, elective surgery volumes, and reimbursement policies from insurance providers, making it somewhat cyclical based on healthcare spending patterns.
Competitive moat
Artivion possesses a moderate but narrowing competitive moat built primarily around specialized expertise, regulatory barriers, and clinical differentiation, though it faces significant competitive pressures from much larger rivals. The company's strongest moat lies in its specialized clinical expertise and regulatory know-how in treating complex aortic diseases. Developing stent grafts and mechanical heart valves requires extensive clinical trials, FDA approvals, and surgeon training - creating meaningful barriers to entry for new competitors. The AMDS system, in particular, addresses acute aortic dissections where Artivion has pioneered treatment protocols and built relationships with specialized cardiac centers. Intellectual property and clinical data provide additional protection. The On-X valve's clinical trials showing 85% reduction in major bleeding compared to competitors creates a meaningful differentiation that supports premium pricing. The company's tissue processing capabilities require specialized cryopreservation facilities and relationships with organ procurement organizations that would be difficult for new entrants to replicate. However, Artivion's moat faces significant challenges. The company competes against much larger medical device giants like Medtronic, Edwards Lifesciences, and Boston Scientific, which have vastly superior resources for R&D, clinical trials, and global distribution. These competitors can potentially develop competing products and leverage their scale advantages to pressure Artivion's market position. The regulatory moat is also diminishing as the FDA has become more efficient at approving medical devices, and larger competitors have the resources to navigate regulatory processes effectively. Additionally, many of Artivion's key patents are aging, potentially exposing the company to generic competition over time. The tissue processing business faces unique risks from potential changes in organ donation policies or the development of synthetic alternatives that could eliminate the need for human tissue grafts entirely. Overall, while Artivion has carved out specialized niches, its moat is primarily defensive rather than offensive, requiring continuous innovation to maintain competitive positioning.
Risks & safety
Artivion presents a moderate margin of safety with manageable financial risks but some valuation concerns. **Financial Stability:** - Cash position of $37.7 million with strong current ratio of 5.5x provides adequate liquidity - Total debt-to-equity ratio of 1.23x is elevated but manageable for a medical device company - Free cash flow turned negative at -$20.6 million in Q1 2025, primarily due to cybersecurity incident recovery - Operating cash flow volatility suggests working capital management challenges **Valuation Metrics:** - EV/EBITDA of 158.8x appears extremely elevated, though distorted by low EBITDA from cybersecurity incident - Price-to-book ratio of 3.5x is reasonable for a medical device company - Revenue growth guidance of 11-14% suggests the business is recovering well - Trading at approximately 3.1x trailing revenue, which is typical for specialty medical device companies **Other Considerations:** - Cybersecurity incident created temporary operational disruptions but appears to be resolving - Regulatory approvals for AMDS and NEXUS provide significant upside potential - Dependence on tissue donations creates supply-side risks beyond management control - Competition from larger medical device companies poses ongoing market share risks
Recent development
Over the past few years, Artivion has executed several strategic pivots focused on innovative product development and international expansion. The company's most significant development has been the advancement of the AMDS (Acute Mechanical Dissection Stent) system, which received Humanitarian Device Exemption (HDE) approval in late 2024 and represents a potential $150 million annual market opportunity for treating life-threatening aortic dissections. The company has systematically expanded its international footprint, with particularly strong growth in Latin America (+26% in Q1 2025) and Asia-Pacific markets. A major milestone was securing regulatory approval for BioGlue in China, with commercialization expected in the second half of 2025, representing approximately $20 million in additional market opportunity. Clinical data development has been a key strategic focus, with the On-X valve trials demonstrating significant mortality benefits for patients under 60 years old and 85% reduction in major bleeding complications. This clinical differentiation has enabled market share gains and premium pricing. The NEXUS aortic arch stent graft system completed enrollment in its clinical trial, showing 63% reduction in major adverse events and tracking toward PMA approval in 2026. The company faced a significant cybersecurity incident in late 2024 that disrupted manufacturing and tissue processing operations, resulting in approximately $4.5 million in lost revenue. However, management has demonstrated effective crisis response, clearing one-third of the tissue processing backlog in Q1 2025 and expecting full recovery by Q3 2025. Strategic amendments to the Endospan acquisition agreement have improved deal terms, reducing upfront payments by $75 million and eliminating minimum earn-out requirements, while still providing access to the NEXUS technology platform for treating complex aortic arch diseases.
AORT company profile · for informational purposes only — not investment advice.
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