Cardiovascular Systems (NASDAQ:CSII) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Thursday, January 4th.
CSII has been the topic of a number of other reports. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price target (down from $37.00) on shares of Cardiovascular Systems in a research report on Thursday, October 26th. Raymond James Financial reiterated a “hold” rating on shares of Cardiovascular Systems in a research report on Monday, December 4th. Zacks Investment Research raised Cardiovascular Systems from a “sell” rating to a “hold” rating in a research note on Monday, November 13th. William Blair reissued a “market perform” rating on shares of Cardiovascular Systems in a research note on Thursday, December 21st. Finally, Citigroup assumed coverage on Cardiovascular Systems in a research note on Thursday, September 21st. They set a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.50.
Shares of Cardiovascular Systems (NASDAQ CSII) traded down $0.02 during midday trading on Thursday, reaching $23.89. 141,200 shares of the company traded hands, compared to its average volume of 161,050. The firm has a market cap of $790.41, a P/E ratio of -398.17 and a beta of 2.52. The company has a current ratio of 4.30, a quick ratio of 3.83 and a debt-to-equity ratio of 0.18. Cardiovascular Systems has a 1-year low of $23.00 and a 1-year high of $33.11.
Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings results on Wednesday, October 25th. The medical device company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Cardiovascular Systems had a negative net margin of 0.93% and a positive return on equity of 0.74%. The business had revenue of $49.70 million for the quarter, compared to the consensus estimate of $51.00 million. During the same quarter in the prior year, the company earned ($0.06) EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. research analysts predict that Cardiovascular Systems will post -0.03 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in CSII. BNP Paribas Arbitrage SA grew its stake in shares of Cardiovascular Systems by 160.7% in the second quarter. BNP Paribas Arbitrage SA now owns 5,135 shares of the medical device company’s stock valued at $166,000 after buying an additional 3,165 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Cardiovascular Systems during the 2nd quarter valued at $204,000. Legal & General Group Plc lifted its holdings in Cardiovascular Systems by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 7,763 shares of the medical device company’s stock valued at $249,000 after purchasing an additional 216 shares during the last quarter. Advisor Group Inc. lifted its holdings in Cardiovascular Systems by 0.4% during the 2nd quarter. Advisor Group Inc. now owns 8,165 shares of the medical device company’s stock valued at $263,000 after purchasing an additional 35 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Cardiovascular Systems by 34.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,239 shares of the medical device company’s stock valued at $265,000 after purchasing an additional 2,115 shares during the last quarter. 74.86% of the stock is owned by institutional investors and hedge funds.
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About Cardiovascular Systems
Cardiovascular Systems, Inc is a medical technology company. The Company is engaged in treating patients suffering from peripheral and coronary artery diseases, including those with arterial calcium. The Company develops an orbital atherectomy technology for both peripheral and coronary commercial applications.
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