Analysts Set Cardiovascular Systems, Inc. (NASDAQ:CSII) Price Target at $46.25

Shares of Cardiovascular Systems, Inc. (NASDAQ:CSII) have been given a consensus rating of “Buy” by the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $46.25.

CSII has been the topic of a number of recent research reports. SVB Leerink reissued a “buy” rating on shares of Cardiovascular Systems in a report on Sunday, September 26th. Needham & Company LLC decreased their target price on Cardiovascular Systems from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, September 23rd. Finally, Northland Securities restated a “buy” rating and issued a $45.00 target price on shares of Cardiovascular Systems in a research note on Friday, July 16th.

Shares of NASDAQ CSII traded up $0.51 during trading on Monday, reaching $32.63. 316 shares of the stock traded hands, compared to its average volume of 212,786. The company has a 50-day moving average of $35.18 and a 200-day moving average of $37.86. The stock has a market capitalization of $1.32 billion, a P/E ratio of -94.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.21 and a quick ratio of 4.62. Cardiovascular Systems has a 52-week low of $31.20 and a 52-week high of $48.28.

Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings data on Wednesday, August 4th. The medical device company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. The business had revenue of $70.99 million for the quarter, compared to analysts’ expectations of $69.00 million. Cardiovascular Systems had a negative return on equity of 4.95% and a negative net margin of 5.18%. The company’s revenue for the quarter was up 66.8% compared to the same quarter last year. Analysts expect that Cardiovascular Systems will post -0.2 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd purchased a new position in shares of Cardiovascular Systems in the 1st quarter valued at approximately $37,000. Bbva USA purchased a new position in shares of Cardiovascular Systems in the 2nd quarter valued at approximately $43,000. Versant Capital Management Inc lifted its stake in shares of Cardiovascular Systems by 32.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,353 shares of the medical device company’s stock valued at $58,000 after purchasing an additional 335 shares during the period. SG Americas Securities LLC purchased a new position in shares of Cardiovascular Systems in the 1st quarter valued at approximately $187,000. Finally, Profund Advisors LLC purchased a new position in shares of Cardiovascular Systems in the 2nd quarter valued at approximately $208,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

About Cardiovascular Systems

Cardiovascular Systems, Inc is a medical device company, which engages in the development and commercialization of solutions for treating vascular and coronary disease. It offers orbital atherectomy systems for both peripheral and coronary commercial applications. The company was founded in 1989 and is headquartered in St.

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Analyst Recommendations for Cardiovascular Systems (NASDAQ:CSII)

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