Cardiovascular Systems, Inc. (NASDAQ:CSII) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Cardiovascular Systems, Inc. (NASDAQ:CSII) have been assigned an average rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $34.40.
Several brokerages recently issued reports on CSII. BidaskClub lowered Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Friday. Bank of America Corporation lowered Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 21st. TheStreet upgraded Cardiovascular Systems from a “d” rating to a “c-” rating in a research report on Thursday, May 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $37.00 price objective (up from $32.00) on shares of Cardiovascular Systems in a research report on Friday, July 14th.
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A number of large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new stake in Cardiovascular Systems during the fourth quarter valued at approximately $736,000. Teachers Advisors LLC boosted its stake in Cardiovascular Systems by 62.1% in the fourth quarter. Teachers Advisors LLC now owns 95,895 shares of the medical device company’s stock valued at $2,322,000 after buying an additional 36,735 shares during the last quarter. State Street Corp boosted its stake in Cardiovascular Systems by 5.7% in the fourth quarter. State Street Corp now owns 587,786 shares of the medical device company’s stock valued at $14,229,000 after buying an additional 31,449 shares during the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in Cardiovascular Systems during the first quarter valued at approximately $424,000. Finally, Caxton Associates LP purchased a new stake in Cardiovascular Systems during the first quarter valued at approximately $246,000. Hedge funds and other institutional investors own 75.15% of the company’s stock.
Shares of Cardiovascular Systems (CSII) opened at 31.02 on Tuesday. The stock has a 50 day moving average of $31.84 and a 200-day moving average of $29.37. The stock’s market capitalization is $1.02 billion. Cardiovascular Systems has a 52-week low of $19.37 and a 52-week high of $33.11.
Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings data on Wednesday, August 2nd. The medical device company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. Cardiovascular Systems had a positive return on equity of 0.89% and a negative net margin of 0.87%. The business had revenue of $52.90 million during the quarter, compared to analyst estimates of $51.98 million. During the same period in the previous year, the firm earned ($0.15) EPS. Cardiovascular Systems’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts predict that Cardiovascular Systems will post $0.06 EPS for the current fiscal year.
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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