Cardiovascular Systems (NASDAQ:CSII) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.
CSII has been the subject of several other research reports. Bank of America upgraded shares of Cardiovascular Systems from an “underperform” rating to a “buy” rating in a report on Wednesday. ValuEngine lowered shares of Cardiovascular Systems from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cardiovascular Systems in a report on Thursday, May 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Cardiovascular Systems currently has a consensus rating of “Hold” and an average price target of $27.00.
Cardiovascular Systems opened at $32.34 on Thursday, Marketbeat.com reports. Cardiovascular Systems has a 52 week low of $20.58 and a 52 week high of $34.51. The company has a current ratio of 4.46, a quick ratio of 3.99 and a debt-to-equity ratio of 0.17.
Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings data on Wednesday, May 2nd. The medical device company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. Cardiovascular Systems had a negative net margin of 0.59% and a negative return on equity of 1.03%. The business had revenue of $55.59 million during the quarter, compared to analyst estimates of $55.63 million.
Several institutional investors have recently added to or reduced their stakes in CSII. Teacher Retirement System of Texas bought a new stake in shares of Cardiovascular Systems in the 4th quarter worth about $273,000. Wells Fargo & Company MN lifted its holdings in shares of Cardiovascular Systems by 15.7% in the 4th quarter. Wells Fargo & Company MN now owns 54,682 shares of the medical device company’s stock worth $1,295,000 after acquiring an additional 7,429 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Cardiovascular Systems by 4.1% in the 4th quarter. BlackRock Inc. now owns 2,265,706 shares of the medical device company’s stock worth $53,676,000 after acquiring an additional 88,999 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cardiovascular Systems by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 298,694 shares of the medical device company’s stock worth $7,075,000 after acquiring an additional 12,584 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Cardiovascular Systems by 69.7% in the 4th quarter. Renaissance Technologies LLC now owns 899,300 shares of the medical device company’s stock worth $21,304,000 after acquiring an additional 369,500 shares during the last quarter. Hedge funds and other institutional investors own 81.08% of the company’s stock.
About Cardiovascular Systems
Cardiovascular Systems, Inc, a medical technology company, develops, manufactures, and markets devices to treat vascular diseases in the United States. The company offers peripheral arterial disease products, including Diamondback 360 Peripheral Orbital Atherectomy System (OAS), Diamondback 360 60cm Peripheral OAS, Diamondback 360 4 French 1.25 Peripheral OAS, Diamondback 360 1.50 Peripheral OAS, Diamondback 360 2.00 Peripheral OAS, and Stealth 360 Peripheral OAS, 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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