Cardiovascular Systems Inc. (NASDAQ:CSII) shares dropped 0.8% during mid-day trading on Monday . The company traded as low as $19.39 and last traded at $19.46, with a volume of 123,637 shares trading hands. The stock had previously closed at $19.62.

Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a report on Tuesday, March 22nd. Needham & Company LLC raised shares of Cardiovascular Systems from an “underperform” rating to a “buy” rating and set a $16.00 target price for the company in a report on Friday, April 1st. Finally, Leerink Swann reaffirmed a “hold” rating on shares of Cardiovascular Systems in a report on Friday, April 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Cardiovascular Systems currently has a consensus rating of “Buy” and a consensus target price of $20.57.

The company has a 50 day moving average price of $17.72 and a 200 day moving average price of $13.27. The company’s market capitalization is $631.24 million.

Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings results on Wednesday, May 4th. The medical device company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.23. During the same quarter in the prior year, the firm earned ($0.34) EPS. The company had revenue of $44.50 million for the quarter, compared to analysts’ expectations of $42.13 million. The firm’s revenue was down 5.3% on a year-over-year basis. Equities research analysts anticipate that Cardiovascular Systems Inc. will post ($1.75) EPS for the current fiscal year.

A hedge fund recently raised its stake in Cardiovascular Systems stock. Brown Advisory Inc. increased its stake in Cardiovascular Systems Inc. (NASDAQ:CSII) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342,446 shares of the medical device company’s stock after buying an additional 7,010 shares during the period. Brown Advisory Inc. owned about 1.05% of Cardiovascular Systems worth $5,178,000 at the end of the most recent quarter.

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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