Artivion (AORT)
NYSE:AORT
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Artivion
(NYSE:AORT)
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Rating:54Neutral
Price Target:
$23.00
▼(-39.02% Downside)
Action:Reiterated
Date:05/19/26
The score is held back most by very weak technicals (price far below major moving averages with negative momentum) and a very expensive headline valuation (P/E ~310). Financial performance is improving with steady revenue growth and a return to profitability, but thin margins and volatile free cash flow limit the upside. The latest earnings call was constructive on long-term strategy and margin expansion, but the guidance cut and near-term execution/financing headwinds temper confidence.
Positive Factors
Strategic M&A / Product Portfolio
Acquiring Endospan and owning the FDA‑approved NEXUS system creates a differentiated, three‑pronged aortic arch portfolio (NEXUS, AMDS, C‑Branch LSA). This materially expands Artivion's structural addressable market, strengthens surgeon lock‑in, and supports multi‑year commercial rollout and recurring procedure revenue.
Negative Factors
Volatile Free Cash Flow
Inconsistent cash conversion—small positive TTM free cash flow after years of negative FCF and quarter-to-quarter swings—limits dependable internal funding for launches and earnouts. Volatility raises reliance on external financing for growth, increasing execution and refinancing risk over the next 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic M&A / Product Portfolio
Acquiring Endospan and owning the FDA‑approved NEXUS system creates a differentiated, three‑pronged aortic arch portfolio (NEXUS, AMDS, C‑Branch LSA). This materially expands Artivion's structural addressable market, strengthens surgeon lock‑in, and supports multi‑year commercial rollout and recurring procedure revenue.
Read all positive factors
Artivion (AORT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.10B
Dividend YieldN/A
Average Volume (3M)461.50K
Price to Earnings (P/E)310.6
Beta (1Y)0.71
Revenue Growth17.59%
EPS GrowthN/A
CountryUS
Employees1,600
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)0.25
Shares Outstanding48,543,350
10 Day Avg. Volume376,123
30 Day Avg. Volume461,498
Financial Highlights & Ratios
PEG Ratio-1.25
Price to Book (P/B)4.61
Price to Sales (P/S)4.69
P/FCF Ratio-2.27K
Enterprise Value/Market Cap1.19
Enterprise Value/Revenue2.85
Enterprise Value/Gross Profit4.53
Enterprise Value/Ebitda21.11
Forecast
1Y Price Target
$42.57Price Target Upside12.86% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.16
Revenue Forecast (FY)$487.56M
Artivion Business Overview & Revenue Model
Company Description
Artivion Inc. manufactures, processes, and distributes medical devices and implantable human tissues worldwide. The company offers BioGlue, a polymer consisting of bovine blood protein and an agent for cross-linking proteins for cardiac, vascular,...
How the Company Makes Money
Artivion makes money primarily by selling medical devices and surgical biomaterials used in cardiac and vascular procedures, generating revenue when hospitals and surgical centers purchase its products for use in patient operations. Key revenue st...
Artivion Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed a generally constructive long-term story—double-digit revenue growth, strong adjusted EBITDA expansion, margin improvement, encouraging product-level performance (notably On-X and tissue processing), rapid deleveraging, and a strategic acquisition (Endospan/NEXUS) that completes a differentiated aortic arch portfolio. Near-term execution challenges—lower-than-expected AMDS starter-set conversions, regional softness (Middle East), targeted supply-chain constraints, and a moderated full-year guidance—tempered the immediate outlook. Management provided clear remediation plans (value analysis committee work, programs to reduce the upfront AMDS burden, inventory and hiring plans for NEXUS) and maintained multi-year pipeline catalysts (ARTISON, C-Branch LSA) that support future upside.Positive Updates
Quarterly Revenue Growth
Total revenues of $116.3 million in Q1 2026, up 12% year-over-year on a constant currency basis.
Negative Updates
Guidance Reset and Moderated Growth Outlook
Full-year 2026 adjusted constant currency revenue growth guidance reduced to 7%–11% (reported revenue $480M–$496M) from prior expectations due to Q1 shortfalls and near-term uncertainty.
Read all updates
Q1-2026 Updates
Positive
Negative
Quarterly Revenue Growth
Total revenues of $116.3 million in Q1 2026, up 12% year-over-year on a constant currency basis.
Read all positive updates
Company Guidance
Artivion trimmed its 2026 outlook, now expecting adjusted constant-currency revenue growth of 7%–11% (reported revenue $480M–$496M, with FX ~1 point tailwind), after Q1 revenues of $116.3M (+12% YoY); full-year adjusted EBITDA is now guided to $100M–$107M (≈12%–20% growth vs. 2025 and ~100 bps margin expansion at the midpoint) excluding the planned Endospan deal, which would add ~ $8M incremental 2026 expense and reduce adjusted EBITDA to $92M–$99M; Q1 adjusted EBITDA was $22.1M (+26% YoY) with a 19% margin (+130 bps YoY), gross margin 64.9% (vs. 64.2%), non‑GAAP G&A $59.3M (51% of sales, a 260 bp improvement), R&D $8.8M (7.6% of sales), net interest $5.2M, free cash flow negative $6.8M (improved from -$20.6M), cash $55.8M, net debt $215.4M (net leverage 1.8x vs. 4.0x prior year); the guidance assumes inconsequential U.S. NEXUS revenue in 2026, AMDS PMA midyear, a planned Endospan close and $135M upfront funded by a $150M term‑loan draw (quarterly interest expense to rise to ~ $8M by Q3), and contemplates near‑term stent graft softness and AMDS starter‑set timing risks.Artivion Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
72
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 458.69M | 441.33M | 388.54M | 354.00M | 313.79M | 298.84M |
| Gross Profit | 288.70M | 270.45M | 248.78M | 229.18M | 202.52M | 197.51M |
| EBITDA | 61.95M | 49.20M | 50.97M | 26.79M | 25.68M | 26.04M |
| Net Income | 11.69M | 9.77M | -13.36M | -30.69M | -19.19M | -14.83M |
Balance Sheet | ||||||
| Total Assets | 883.16M | 884.80M | 789.10M | 792.40M | 762.80M | 793.05M |
| Cash, Cash Equivalents and Short-Term Investments | 55.76M | 64.91M | 53.46M | 58.94M | 39.35M | 55.01M |
| Total Debt | 258.16M | 292.04M | 362.26M | 358.34M | 356.83M | 362.04M |
| Total Liabilities | 432.69M | 436.56M | 512.90M | 510.62M | 478.47M | 492.32M |
| Stockholders Equity | 450.47M | 448.23M | 276.20M | 281.78M | 284.33M | 300.73M |
Cash Flow | ||||||
| Free Cash Flow | 12.83M | -911.00K | 11.05M | 11.39M | -15.87M | -15.68M |
| Operating Cash Flow | 56.24M | 38.13M | 22.24M | 18.82M | -5.15M | -2.58M |
| Investing Cash Flow | -48.91M | -42.04M | -28.19M | -502.00K | -10.71M | 5.66M |
| Financing Cash Flow | 9.56M | 13.03M | 2.20M | 865.00K | -1.64M | -12.22M |
Artivion Technical Analysis
Negative
37.72
Price Trends
33.68
Negative
37.21
Negative
40.33
Negative
Market Momentum
-3.78
Positive
25.89
Positive
29.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AORT, the sentiment is Negative. The current price of 37.72 is above the 20-day moving average (MA) of 29.58, above the 50-day MA of 33.68, and below the 200-day MA of 40.33, indicating a bearish trend. The MACD of -3.78 indicates Positive momentum. The RSI at 25.89 is Positive, neither overbought nor oversold. The STOCH value of 29.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AORT.
Artivion Risk Analysis
Artivion disclosed 33 risk factors in its most recent earnings report. Artivion reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Artivion Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $4.05B | 38.98 | 9.13% | ― | 12.40% | ― | |
64 Neutral | $2.27B | -21.82 | -20.74% | ― | 22.41% | -292.36% | |
61 Neutral | $657.26M | -32.03 | -9.56% | ― | 16.77% | 39.26% | |
54 Neutral | $1.10B | 310.60 | 2.66% | ― | 17.59% | ― | |
54 Neutral | $1.20B | -39.25 | -47.65% | ― | 1.24% | -1605.54% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $491.12M | -5.55 | -13.44% | ― | 2.59% | 59.39% |
* Healthcare Sector Average
AORT
Artivion
22.77
-5.69
-19.99%
IART
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15.12
2.46
19.43%
OFIX
Orthofix Medical
10.41
-0.82
-7.30%
AXGN
AxoGen
41.31
30.37
277.61%
LIVN
LivaNova
73.64
30.46
70.54%
SIBN
SI-Bone
14.81
-3.61
-19.60%
Artivion Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Artivion Completes Strategic Acquisition of Endospan Platform
Positive
May 18, 2026
On May 18, 2026, Artivion completed the acquisition of its long-time partner Endospan, exercising an option agreement first signed in 2019 and later amended. Through its Singapore subsidiary, Artivion paid a net upfront purchase price of about $13...
Executive/Board ChangesShareholder Meetings
Artivion Shareholders Back Board, Pay and Auditor Choices
Positive
May 15, 2026
At Artivion’s 2026 Annual Meeting of Stockholders held on May 12, 2026, shareholders re-elected all nominated directors to serve until the next annual meeting or until their successors are chosen. This continuity on the board signals investo...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsProduct-Related Announcements
Artivion Acquires Endospan to Expand Aortic Arch Portfolio
Positive
May 7, 2026
On May 7, 2026, Artivion reported first-quarter 2026 revenue of $116.3 million, up 18% year over year on a GAAP basis, with net income of $1.4 million and a 26% increase in adjusted EBITDA to $22.1 million. Management cited strong growth in stent ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.