Cardiovascular Systems, Inc. (CSII) Receives Consensus Rating of “Hold” from Analysts
Shares of Cardiovascular Systems, Inc. (NASDAQ:CSII) have received a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $34.25.
Several analysts recently issued reports on the stock. BidaskClub downgraded shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $37.00 price objective (up from $32.00) on shares of Cardiovascular Systems in a report on Friday, July 14th. Zacks Investment Research downgraded shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Citigroup Inc. assumed coverage on shares of Cardiovascular Systems in a report on Thursday, September 21st. They set a “market perform” rating for the company. Finally, Raymond James Financial, Inc. assumed coverage on shares of Cardiovascular Systems in a report on Friday, September 22nd. They set a “market perform” rating for the company.
In related news, General Counsel Alexander Rosenstein sold 979 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $30.71, for a total transaction of $30,065.09. Following the completion of the sale, the general counsel now directly owns 52,296 shares of the company’s stock, valued at approximately $1,606,010.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward M. Brown sold 20,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $29.16, for a total transaction of $583,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,065 shares of company stock valued at $1,514,031. 3.30% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of CSII. BNP Paribas Arbitrage SA boosted its holdings in Cardiovascular Systems by 160.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,135 shares of the medical device company’s stock valued at $166,000 after purchasing an additional 3,165 shares during the period. BlueCrest Capital Management Ltd bought a new stake in Cardiovascular Systems in the 2nd quarter valued at $204,000. Winslow Evans & Crocker Inc. boosted its holdings in Cardiovascular Systems by 21.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 6,550 shares of the medical device company’s stock valued at $210,000 after purchasing an additional 1,150 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in Cardiovascular Systems by 809.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 8,393 shares of the medical device company’s stock valued at $237,000 after purchasing an additional 7,470 shares during the period. Finally, Gotham Asset Management LLC bought a new stake in Cardiovascular Systems in the 1st quarter valued at $239,000. 74.50% of the stock is owned by hedge funds and other institutional investors.
Cardiovascular Systems (CSII) opened at 26.34 on Friday. The company’s 50 day moving average is $28.64 and its 200 day moving average is $30.19. Cardiovascular Systems has a 12-month low of $21.29 and a 12-month high of $33.11. The firm’s market cap is $868.98 million.
Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. Cardiovascular Systems had a negative net margin of 0.87% and a positive return on equity of 0.88%. The company had revenue of $52.90 million for the quarter, compared to analyst estimates of $51.98 million. During the same quarter in the prior year, the business posted ($0.15) EPS. Cardiovascular Systems’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities analysts anticipate that Cardiovascular Systems will post $0.01 earnings per share for the current year.
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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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