Cardiovascular Systems Inc (NASDAQ:CSII) has received an average recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $50.20.
A number of research analysts have issued reports on CSII shares. ValuEngine downgraded shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Guggenheim started coverage on shares of Cardiovascular Systems in a research report on Thursday, October 17th. They set a “buy” rating and a $58.00 price objective on the stock. Lake Street Capital boosted their price objective on shares of Cardiovascular Systems from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research downgraded shares of Cardiovascular Systems from a “hold” rating to a “strong sell” rating and set a $46.00 price objective on the stock. in a research report on Thursday, October 31st. Finally, BidaskClub downgraded shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th.
In other news, General Counsel Alexander Rosenstein sold 6,308 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $50.42, for a total value of $318,049.36. Following the sale, the general counsel now directly owns 78,187 shares of the company’s stock, valued at approximately $3,942,188.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Brown Capital Management LLC increased its holdings in shares of Cardiovascular Systems by 21.7% in the second quarter. Brown Capital Management LLC now owns 4,563,352 shares of the medical device company’s stock valued at $195,905,000 after purchasing an additional 812,595 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Cardiovascular Systems during the second quarter worth $13,345,000. Eagle Asset Management Inc. lifted its position in Cardiovascular Systems by 316.7% in the 2nd quarter. Eagle Asset Management Inc. now owns 150,501 shares of the medical device company’s stock valued at $6,461,000 after acquiring an additional 114,381 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in Cardiovascular Systems in the 1st quarter valued at $3,866,000. Finally, GW&K Investment Management LLC lifted its position in Cardiovascular Systems by 40.7% in the 3rd quarter. GW&K Investment Management LLC now owns 271,765 shares of the medical device company’s stock valued at $12,914,000 after acquiring an additional 78,644 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:CSII traded up $1.91 during midday trading on Monday, hitting $44.31. The company’s stock had a trading volume of 373,200 shares, compared to its average volume of 319,167. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.04 and a current ratio of 3.45. Cardiovascular Systems has a fifty-two week low of $24.84 and a fifty-two week high of $52.54. The stock’s 50 day simple moving average is $46.06 and its 200 day simple moving average is $44.43. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -4,431.00 and a beta of 1.62.
Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.09). Cardiovascular Systems had a negative net margin of 1.23% and a negative return on equity of 2.21%. The business had revenue of $64.49 million during the quarter, compared to analyst estimates of $64.03 million. As a group, analysts anticipate that Cardiovascular Systems will post -0.06 EPS for the current year.
About Cardiovascular Systems
Cardiovascular Systems, Inc, a medical device company, develops, manufactures, and commercializes various devices to treat vascular and coronary diseases in the United States. The company offers peripheral arterial disease products, including Diamondback 360 Peripheral, Predator 360, Stealth 360 Peripheral Orbital Atherectomy System (OAS), Diamondback 360 60cm Peripheral OAS, Diamondback 360 Low Profile Peripheral, Diamondback 360 1.50 Peripheral, Diamondback 360 2.00 Peripheral, Diamondback 360 200cm Peripheral, and Diamondback 360 180cm Peripheral, which are catheter-based platforms for treating a range of plaque types in leg arteries above and below the knee, including calcified plaque, as well as address various limitations associated with surgical, catheter, and pharmacological treatment alternatives.
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