BidaskClub Upgrades Cardiovascular Systems (CSII) to “Hold”

Cardiovascular Systems (NASDAQ:CSII) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday.

Several other brokerages have also commented on CSII. Needham & Company LLC restated a “buy” rating and issued a $37.00 price objective on shares of Cardiovascular Systems in a report on Thursday, October 12th. Zacks Investment Research lowered shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Raymond James Financial restated a “hold” rating on shares of Cardiovascular Systems in a report on Monday, December 4th. Finally, William Blair restated a “market perform” rating on shares of Cardiovascular Systems in a report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $31.50.

Shares of Cardiovascular Systems (NASDAQ CSII) traded up $0.09 during mid-day trading on Friday, hitting $25.80. 132,598 shares of the stock traded hands, compared to its average volume of 203,049. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.83 and a current ratio of 4.30. Cardiovascular Systems has a 52-week low of $23.00 and a 52-week high of $33.11. The firm has a market cap of $877.26, a price-to-earnings ratio of -429.93 and a beta of 2.53.

Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings data on Wednesday, October 25th. The medical device company reported ($0.06) EPS for the quarter, topping the 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 firm had revenue of $49.70 million for the quarter, compared to analyst estimates of $51.00 million. During the same period in the prior year, the business posted ($0.06) EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. analysts forecast that Cardiovascular Systems will post -0.03 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in CSII. Schwab Charles Investment Management Inc. increased its stake in Cardiovascular Systems by 0.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 201,992 shares of the medical device company’s stock worth $6,511,000 after buying an additional 1,680 shares during the period. Bank of New York Mellon Corp increased its stake in Cardiovascular Systems by 15.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 209,029 shares of the medical device company’s stock worth $6,738,000 after buying an additional 27,539 shares during the period. Legal & General Group Plc increased its stake 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 worth $249,000 after buying an additional 216 shares during the period. Principal Financial Group Inc. purchased a new stake in Cardiovascular Systems during the 2nd quarter worth approximately $398,000. Finally, JPMorgan Chase & Co. increased its stake 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 worth $265,000 after buying an additional 2,115 shares during the period. 75.31% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Cardiovascular Systems (NASDAQ:CSII)

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