Cardiovascular Systems, Inc. (CSII) Given Average Recommendation of “Hold” by Analysts
Cardiovascular Systems, Inc. (NASDAQ:CSII) has been assigned an average rating of “Hold” from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $34.40.
A number of analysts recently commented on the company. BidaskClub upgraded Cardiovascular Systems from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Bank of America Corporation lowered Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 21st. Needham & Company LLC reiterated a “buy” rating and set a $37.00 price target (up from $32.00) on shares of Cardiovascular Systems in a report on Friday, July 14th. Zacks Investment Research lowered Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Friday. Finally, TheStreet upgraded Cardiovascular Systems from a “d” rating to a “c-” rating in a report on Thursday, May 4th.
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Hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP raised its stake in shares of Cardiovascular Systems by 142.3% in the first quarter. Quantbot Technologies LP now owns 5,323 shares of the medical device company’s stock valued at $150,000 after buying an additional 3,126 shares during the last quarter. Winslow Evans & Crocker Inc. purchased a new stake in shares of Cardiovascular Systems during the first quarter valued at about $153,000. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Cardiovascular Systems during the first quarter valued at about $163,000. BNP Paribas Arbitrage SA raised its stake in shares of Cardiovascular Systems by 160.7% in the second quarter. BNP Paribas Arbitrage SA now owns 5,135 shares of the medical device company’s stock valued at $166,000 after buying an additional 3,165 shares during the last quarter. Finally, Clinton Group Inc. purchased a new stake in shares of Cardiovascular Systems during the first quarter valued at about $212,000. Hedge funds and other institutional investors own 75.15% of the company’s stock.
Shares of Cardiovascular Systems (CSII) opened at 31.02 on Tuesday. Cardiovascular Systems has a 52 week low of $19.37 and a 52 week high of $33.11. The company’s market cap is $1.02 billion. The stock’s 50 day moving average price is $31.84 and its 200-day moving average price is $29.37.
Cardiovascular Systems (NASDAQ:CSII) last announced its earnings results on Wednesday, August 2nd. The medical device company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. The company had revenue of $52.90 million for the quarter, compared to analysts’ expectations of $51.98 million. Cardiovascular Systems had a positive return on equity of 0.89% and a negative net margin of 0.87%. Cardiovascular Systems’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. Analysts expect that Cardiovascular Systems will post $0.06 EPS for the current year.
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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