Zacks Investment Research upgraded shares of Cardiovascular Systems, Inc. (NASDAQ:CSII) from a sell rating to a hold rating in a report published on Monday.

According to Zacks, “Cardiovascular Systems exited the first quarter of fiscal 2018 on a mixed note. The earnings compared favorably with the Zacks Consensus Estimate while revenues missed the same. Fiscal first-quarter revenues declined on a year-over-year basis owing to the impact of hurricanes. The company incurred net loss in the reported first quarter. Also, intense competition adds to the woes. On a positive note, despite the decline in revenues, the reaffirmed revenue guidance for fiscal 2018 buoys optimism. The reported net loss in the quarter was narrower than the guided range. Also, the expansion in gross margin was impressive. To note, the company is currently focusing on product innovation through R&D investments. During the quarter, the company released one-year positive data from its LIBERTY 360° clinical study in a late-breaking presentation at the 2017 Amputation Prevention Symposium (AMP) in Chicago.”

A number of other research analysts have also recently commented on CSII. BidaskClub cut Cardiovascular Systems from a hold rating to a sell rating in a research note on Tuesday, August 1st. Raymond James Financial, Inc. initiated coverage on Cardiovascular Systems in a research note on Friday, September 22nd. They set a market perform rating on the stock. Needham & Company LLC reiterated a buy rating and issued a $36.00 price objective (down from $37.00) on shares of Cardiovascular Systems in a research note on Thursday, October 26th. Finally, Citigroup Inc. initiated coverage on Cardiovascular Systems in a research note on Thursday, September 21st. They issued a market perform rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Cardiovascular Systems has a consensus rating of Hold and an average target price of $38.00.

Cardiovascular Systems (NASDAQ CSII) traded down $0.05 during trading hours on Monday, reaching $23.43. The company’s stock had a trading volume of 212,300 shares, compared to its average volume of 274,108. The company has a quick ratio of 3.83, a current ratio of 4.30 and a debt-to-equity ratio of 0.18. Cardiovascular Systems has a one year low of $23.00 and a one year high of $33.11. The firm has a market capitalization of $775.19, a PE ratio of 1,174.00 and a beta of 2.53.

Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings results on Wednesday, October 25th. The medical device company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Cardiovascular Systems had a positive return on equity of 0.74% and a negative net margin of 0.93%. The company had revenue of $49.70 million for the quarter, compared to analysts’ expectations of $51.00 million. During the same period in the prior year, the firm earned ($0.06) earnings per share. The firm’s revenue was down .2% compared to the same quarter last year. equities analysts predict that Cardiovascular Systems will post -0.05 earnings per share for the current fiscal year.

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In related news, Director Edward M. Brown sold 13,031 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $29.09, for a total value of $379,071.79. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward M. Brown sold 20,000 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $29.16, for a total value of $583,200.00. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of CSII. BNP Paribas Arbitrage SA increased its holdings in 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. BlueCrest Capital Management Ltd purchased a new position in Cardiovascular Systems in the second quarter valued at $204,000. Winslow Evans & Crocker Inc. increased its holdings in Cardiovascular Systems by 21.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 6,550 shares of the medical device company’s stock valued at $210,000 after buying an additional 1,150 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in Cardiovascular Systems by 809.3% in the first quarter. UBS Asset Management Americas Inc. now owns 8,393 shares of the medical device company’s stock valued at $237,000 after buying an additional 7,470 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Cardiovascular Systems by 2.9% in the second quarter. Legal & General Group Plc now owns 7,763 shares of the medical device company’s stock valued at $249,000 after buying an additional 216 shares during the last quarter. 72.09% of the stock is currently owned by hedge funds and other 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 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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