Cardiovascular Systems (CSII) Price Target Lowered to $30.00 at Leerink Swann

Cardiovascular Systems (NASDAQ:CSII) had its target price decreased by analysts at Leerink Swann from $31.00 to $30.00 in a research report issued on Thursday. The firm presently has an “outperform” rating on the medical device company’s stock. Leerink Swann’s target price points to a potential upside of 29.03% from the stock’s previous close.

Several other research firms have also recently issued reports on CSII. BidaskClub upgraded Cardiovascular Systems from a “sell” rating to a “hold” rating in a report on Friday, January 26th. Needham & Company LLC cut Cardiovascular Systems from a “buy” rating to a “hold” rating and decreased their price target for the company from $33.11 to $23.00 in a report on Friday, December 15th. William Blair reiterated a “market perform” rating on shares of Cardiovascular Systems in a report on Thursday, December 21st. Raymond James Financial reiterated a “hold” rating on shares of Cardiovascular Systems in a report on Monday, December 4th. Finally, Zacks Investment Research upgraded Cardiovascular Systems from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.50.

Shares of Cardiovascular Systems (NASDAQ:CSII) traded down $1.76 during trading hours on Thursday, hitting $23.25. The stock had a trading volume of 643,665 shares, compared to its average volume of 241,288. Cardiovascular Systems has a 52 week low of $22.62 and a 52 week high of $33.11. The firm has a market capitalization of $841.44, a price-to-earnings ratio of -387.44 and a beta of 2.32. 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 (NASDAQ:CSII) last announced its earnings results on Wednesday, February 7th. The medical device company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. Cardiovascular Systems had a positive return on equity of 0.74% and a negative net margin of 0.93%. The company had revenue of $52.63 million during the quarter, compared to analyst estimates of $53.39 million. During the same period last year, the company posted $0.03 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. analysts predict that Cardiovascular Systems will post -0.03 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Cardiovascular Systems by 12.6% during the second quarter. Vanguard Group Inc. now owns 1,864,604 shares of the medical device company’s stock worth $60,096,000 after buying an additional 208,248 shares during the last quarter. State Street Corp boosted its holdings in Cardiovascular Systems by 0.9% during the second quarter. State Street Corp now owns 677,462 shares of the medical device company’s stock worth $21,828,000 after buying an additional 6,074 shares during the last quarter. Jennison Associates LLC boosted its holdings in Cardiovascular Systems by 80.2% during the third quarter. Jennison Associates LLC now owns 22,647 shares of the medical device company’s stock worth $638,000 after buying an additional 10,080 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Cardiovascular Systems by 77.8% during the second quarter. Parametric Portfolio Associates LLC now owns 59,884 shares of the medical device company’s stock worth $1,930,000 after buying an additional 26,212 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Cardiovascular Systems by 4.9% during the second quarter. Northern Trust Corp now owns 441,314 shares of the medical device company’s stock worth $14,224,000 after buying an additional 20,434 shares during the last quarter. Hedge funds and other institutional investors own 75.29% of the company’s stock.

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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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