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Artivion
(NYSE:AORT)
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Rating:56Neutral
Price Target:
$22.00
▼(-16.60% Downside)
Action:Reiterated
Date:08/07/26
The score is primarily constrained by uneven financial quality—especially volatile and recently negative free cash flow—and a very high valuation (P/E 107.02). Offsetting these are steady revenue growth with strong gross margins and a constructive earnings-call outlook with reiterated 2026 guidance and key product/platform milestones, while technicals are only moderately supportive given the stock remains below longer-term moving averages.
Positive Factors
Durable Revenue Growth
Artivion has demonstrated sustained top-line expansion across several years, supported by demand for its vascular and surgical products. Continued growth guidance indicates that the business is still broadening its commercial base, creating a durable foundation for future operating leverage.
Negative Factors
Inconsistent Profitability
The return to a TTM net loss shows that revenue growth has not yet translated into consistently positive bottom-line earnings. Uneven profitability can constrain internal funding, make results more sensitive to execution, and delay the point at which growth produces dependable shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Durable Revenue Growth
Artivion has demonstrated sustained top-line expansion across several years, supported by demand for its vascular and surgical products. Continued growth guidance indicates that the business is still broadening its commercial base, creating a durable foundation for future operating leverage.
Read all positive factors
Artivion (AORT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.04B
Dividend Yield1.15%
Average Volume (3M)587.61K
Price to Earnings (P/E)―
Beta (1Y)0.66
Revenue Growth16.40%
EPS Growth85.99%
CountryUS
Employees1,800
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.06
Shares Outstanding48,756,220
10 Day Avg. Volume503,057
30 Day Avg. Volume587,610
Financial Highlights & Ratios
PEG Ratio-1.23
Price to Book (P/B)4.61
Price to Sales (P/S)4.69
P/FCF Ratio-2.27K
Enterprise Value/Market Cap1.37
Enterprise Value/Revenue3.01
Enterprise Value/Gross Profit4.80
Enterprise Value/Ebitda27.84
Forecast
1Y Price Target
$41.87Price Target Upside58.71% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-0.23
Revenue Forecast (FY)$490.26M
Artivion Business Overview & Revenue Model
Company Description
Artivion Inc. is a global company that develops, produces, and supplies medical devices and implantable human tissues. Its product range includes BioGlue, a polymer derived from bovine blood protein combined with a cross-linking agent, utilized in...
How the Company Makes Money
Artivion makes money primarily by selling medical devices and implantable surgical products used to treat aortic and vascular disease to hospitals and healthcare providers. Revenue is generated when hospitals purchase Artivion’s products for use i...
Artivion Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call conveyed a constructive strategic and commercial story with multiple high‑impact milestones (AMDS PMA approval, Endospan/NEXUS acquisition, accelerating stent graft and On‑X growth) and reiterated full‑year guidance. These positives were offset by near‑term financial and operational headwinds: margin pressure, higher operating costs and amortization from the acquisition, negative free cash flow in the quarter driven by acquisition‑related cash outflows, and elevated leverage. Management emphasized that several lowlights are investment‑ or timing‑related and positioned as temporary as the business scales and NEXUS/AMDS commercialization progresses.Positive Updates
Total Revenue and EBITDA Growth
Total revenues of $125.8 million in Q2 2026, up 9% year-over-year (constant currency). Adjusted EBITDA increased ~7% to $26.4 million, with adjusted EBITDA margin of 21%.
Negative Updates
Margin and Expense Pressure
Adjusted EBITDA margin declined ~90 basis points year-over-year to 21%. Gross margin decreased to 64.0% from 64.7%, driven by unfavorable geographic mix and higher early Austin production costs.
Read all updates
Q2-2026 Updates
Positive
Negative
Total Revenue and EBITDA Growth
Total revenues of $125.8 million in Q2 2026, up 9% year-over-year (constant currency). Adjusted EBITDA increased ~7% to $26.4 million, with adjusted EBITDA margin of 21%.
Read all positive updates
Company Guidance
Management reiterated full-year 2026 guidance calling for adjusted constant-currency revenue growth of 7%–11% (reported revenue of $480M–$496M, with roughly a 1 percentage-point FX tailwind) and adjusted EBITDA of $92M–$99M, while assuming inconsequential U.S. NEXUS revenue in 2026 and expecting first meaningful NEXUS contributions in January 2027; they also expect to incur roughly $8M of Endospan-related expenses through 2026. Quarterly metrics cited include Q2 revenues of $125.8M (+9% Y/Y), adjusted EBITDA of $26.4M (+~7% Y/Y) and a 21% adjusted EBITDA margin (down ~90 bps Y/Y), free cash flow of negative $12M in Q2 (impacted by a $10.2M post-acquisition payment and $1.5M diligence/integration costs), cash of ~$77.3M, debt of ~$363M (net of $6.6M of loan origination costs) and a net leverage ratio of 3.1 as of June 30 (the $25M AMDS PMA milestone paid in July is excluded); management also flagged a difficult preservation-services comp in Q3 before normalization in Q4 and said 2027 results are expected to be EBITDA neutral as NEXUS ramps with R&D/clinical spending targeted at 7%–8% of sales.Artivion Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 471.47M | 441.33M | 388.54M | 354.00M | 313.79M | 298.84M |
| Gross Profit | 296.11M | 270.45M | 248.78M | 229.18M | 202.52M | 197.51M |
| EBITDA | 51.06M | 63.82M | 50.97M | 26.79M | 25.68M | 26.04M |
| Net Income | -3.17M | 9.77M | -13.36M | -30.69M | -19.19M | -14.83M |
Balance Sheet | ||||||
| Total Assets | 1.07B | 884.80M | 789.10M | 792.40M | 762.80M | 793.05M |
| Cash, Cash Equivalents and Short-Term Investments | 77.32M | 64.91M | 53.46M | 58.94M | 39.35M | 55.01M |
| Total Debt | 407.97M | 292.04M | 362.26M | 358.34M | 356.83M | 362.04M |
| Total Liabilities | 626.35M | 436.56M | 512.90M | 510.62M | 478.47M | 492.32M |
| Stockholders Equity | 445.58M | 448.23M | 276.20M | 281.78M | 284.33M | 300.73M |
Cash Flow | ||||||
| Free Cash Flow | -10.91M | -911.00K | 11.05M | 11.39M | -15.87M | -15.68M |
| Operating Cash Flow | 39.96M | 38.13M | 22.24M | 18.82M | -5.15M | -2.58M |
| Investing Cash Flow | -175.03M | -42.04M | -28.19M | -502.00K | -10.71M | 5.66M |
| Financing Cash Flow | 159.35M | 13.03M | 2.20M | 865.00K | -1.64M | -12.22M |
Artivion Technical Analysis
Negative
26.38
Price Trends
25.41
Negative
24.21
Negative
31.07
Negative
Market Momentum
-1.09
Positive
29.80
Positive
16.09
Positive
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 26.38 is above the 20-day moving average (MA) of 23.05, above the 50-day MA of 25.41, and below the 200-day MA of 31.07, indicating a bearish trend. The MACD of -1.09 indicates Positive momentum. The RSI at 29.80 is Positive, neither overbought nor oversold. The STOCH value of 16.09 is Positive, 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 |
|---|---|---|---|---|---|---|---|
81 Outperform | $49.12B | 48.97 | 9.69% | ― | 14.55% | 15.09% | |
77 Outperform | $113.18B | 21.63 | 10.60% | 3.23% | 9.77% | 12.28% | |
69 Neutral | $4.21B | 22.14 | 15.41% | ― | 12.39% | ― | |
68 Neutral | $5.40B | 57.62 | 11.35% | ― | 0.44% | -37.48% | |
56 Neutral | $1.04B | -356.71 | -0.71% | 1.15% | 16.40% | 85.99% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $659.79M | -2.45 | -77.66% | ― | -9.56% | 16.73% |
* Healthcare Sector Average
AORT
Artivion
21.26
-19.37
-47.67%
EW
Edwards Lifesciences
85.21
12.26
16.81%
HAE
Haemonetics
118.69
68.45
136.25%
MDT
Medtronic
88.48
-4.03
-4.36%
LIVN
LivaNova
76.39
24.61
47.53%
AVR
Anteris Technologies Global Corp.
6.77
2.32
52.13%
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.