Cardiovascular Systems Inc. (CSII) Coverage Initiated at JMP Securities
JMP Securities started coverage on shares of Cardiovascular Systems Inc. (NASDAQ:CSII) in a research report released on Friday. The firm issued an outperform rating and a $35.00 target price on the medical device company’s stock.
A number of other analysts have also issued reports on the stock. Zacks Investment Research raised shares of Cardiovascular Systems from a hold rating to a buy rating and set a $27.00 price target for the company in a research report on Tuesday, October 4th. Leerink Swann raised shares of Cardiovascular Systems from a market perform rating to an outperform rating and set a $30.00 price target for the company in a research report on Monday, August 22nd. Needham & Company LLC raised their price objective on shares of Cardiovascular Systems from $23.00 to $27.00 and gave the company a buy rating in a research report on Thursday, August 4th. Finally, Bank of America Corp. raised shares of Cardiovascular Systems from an underperform rating to a neutral rating in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Cardiovascular Systems presently has a consensus rating of Buy and an average price target of $27.40.
Cardiovascular Systems (NASDAQ:CSII) opened at 24.37 on Friday. Cardiovascular Systems has a 1-year low of $7.50 and a 1-year high of $25.35. The company’s market capitalization is $812.62 million. The firm’s 50-day moving average is $24.10 and its 200-day moving average is $18.83.
Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings results on Wednesday, August 3rd. The medical device company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. The business earned $48.50 million during the quarter, compared to analyst estimates of $46.01 million. Cardiovascular Systems had a negative net margin of 31.44% and a negative return on equity of 38.39%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.27) earnings per share. Equities research analysts predict that Cardiovascular Systems will post ($0.62) EPS for the current year.
In other news, SVP Paul A. Koehn sold 30,910 shares of Cardiovascular Systems stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $25.07, for a total value of $774,913.70. Following the transaction, the senior vice president now owns 110,200 shares of the company’s stock, valued at $2,762,714. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Camber Capital Management Llc sold 1,100,000 shares of Cardiovascular Systems stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $23.26, for a total transaction of $25,586,000.00. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Menta Capital LLC raised its position in Cardiovascular Systems by 89.0% in the first quarter. Menta Capital LLC now owns 25,515 shares of the medical device company’s stock worth $265,000 after buying an additional 12,015 shares in the last quarter. Geode Capital Management LLC raised its position in Cardiovascular Systems by 11.2% in the first quarter. Geode Capital Management LLC now owns 214,578 shares of the medical device company’s stock worth $2,224,000 after buying an additional 21,543 shares in the last quarter. Wellington Management Group LLP raised its position in Cardiovascular Systems by 27.6% in the first quarter. Wellington Management Group LLP now owns 3,018,859 shares of the medical device company’s stock worth $31,306,000 after buying an additional 652,962 shares in the last quarter. Bogle Investment Management L P DE purchased a new position in Cardiovascular Systems during the first quarter worth approximately $2,796,000. Finally, Amici Capital LLC purchased a new position in Cardiovascular Systems during the first quarter worth approximately $830,000. 68.16% of the stock is currently owned by institutional investors.
About Cardiovascular Systems
Cardiovascular Systems, Inc is a medical technology company. The Company is engaged in treating patients suffering from peripheral and coronary arterial diseases. It has developed an orbital atherectomy technology for peripheral and coronary commercial applications. Its peripheral arterial disease systems are catheter-based platforms that treat plaque types in leg arteries both above and below the knee.
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