Artivion initiated with a Buy at Canaccord

Canaccord analyst William Plovanic initiated coverage of Artivion (AORT) with a Buy rating and $35 price target The company is a “highly focused player” in cardiac surgery “with bets about to pay off” for aortic arch repair, the analyst tells investors in a research note. The firm says Artivion is a leading player in aortic and abdominal graft, mechanical and bioprosthetic tissue valves, and surgical sealants and sells its products to cardiac and vascular surgeons. Canaccord believes the company has made several bets on the aortic arch repair space that are on the verge of paying off, including the acquisitions of Jotec in 2017 and Acyrus Medical in 2020, and a distribution and purchase option for Endospan in 2019. Over the next few years, both AMDS and Nexus should bolster Artivion’s sales growth and drive continued leverage for even faster adjusted EBITDA growth, contends Canaccord.