Cardiovascular Systems (CSII) Lifted to “Buy” at Zacks Investment Research

Cardiovascular Systems (NASDAQ:CSII) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $28.00 price target on the medical device company’s stock. Zacks Investment Research‘s price target points to a potential upside of 25.00% from the stock’s current price.

According to Zacks, “Cardiovascular Systems exited second-quarter fiscal 2018 on a solid note with year-over-year increase in revenues at both CAD and PAD businesses. Also, the expansion is gross margin was impressive. Moreover, the company is putting efforts in product innovation through R&D investments. The market is also looking forward to the recently-launched coronary device in Japan, reflecting the company’s focus on international expansion. On the flip side, Cardiovascular Systems faces cutthroat competition in the niche space. Coming to profitability, Cardio Vascular incurred net loss in the recently-reported second quarter. In fact, the company has a long history of net losses since inception. Also, the lowered revenue guidance for fiscal 2018 is discouraging.Over the last year, Cardiovascular Systems has been trading below the broader industry.”

Several other equities research analysts also recently commented on CSII. Needham & Company LLC restated a “buy” rating and issued a $37.00 target price on shares of Cardiovascular Systems in a research note on Thursday, October 12th. Raymond James Financial reiterated a “hold” rating on shares of Cardiovascular Systems in a research report on Monday, December 4th. William Blair reiterated a “market perform” rating on shares of Cardiovascular Systems in a research report on Thursday, December 21st. BidaskClub downgraded shares of Cardiovascular Systems from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 27th. Finally, ValuEngine downgraded shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $27.00.

Shares of Cardiovascular Systems (NASDAQ:CSII) traded down $0.60 during trading on Friday, reaching $22.40. 778,328 shares of the company’s stock traded hands, compared to its average volume of 282,303. The company has a market cap of $853.38, a price-to-earnings ratio of -223.98 and a beta of 2.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.30 and a quick ratio of 3.83. Cardiovascular Systems has a 12-month low of $21.03 and a 12-month high of $33.11.

Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings results on Wednesday, February 7th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The firm had revenue of $52.63 million for the quarter, compared to analyst estimates of $53.39 million. Cardiovascular Systems had a negative net margin of 1.62% and a negative return on equity of 0.51%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. sell-side analysts forecast that Cardiovascular Systems will post -0.03 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in CSII. BlueCrest Capital Management Ltd acquired a new position in Cardiovascular Systems during the 2nd quarter valued at about $204,000. Advisor Group Inc. lifted its position in Cardiovascular Systems by 0.4% during the 2nd quarter. Advisor Group Inc. now owns 8,165 shares of the medical device company’s stock valued at $263,000 after purchasing an additional 35 shares during the period. JPMorgan Chase & Co. lifted its position 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 valued at $265,000 after purchasing an additional 2,115 shares during the period. Teacher Retirement System of Texas acquired a new position in Cardiovascular Systems during the 4th quarter valued at about $273,000. Finally, Trexquant Investment LP acquired a new position in Cardiovascular Systems during the 3rd quarter valued at about $276,000. Institutional investors own 75.29% of the company’s stock.

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Cardiovascular Systems Company Profile

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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