Shares of Cardiovascular Systems Inc (NASDAQ:CSII) hit a new 52-week low during mid-day trading on Thursday after Leerink Swann lowered their price target on the stock from $31.00 to $30.00. Leerink Swann currently has an outperform rating on the stock. Cardiovascular Systems traded as low as $23.00 and last traded at $23.00, with a volume of 991238 shares traded. The stock had previously closed at $25.01.

CSII has been the topic of a number of other reports. BidaskClub lowered Cardiovascular Systems from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. ValuEngine lowered Cardiovascular Systems from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target (down from $37.00) on shares of Cardiovascular Systems in a research note on Thursday, October 26th. Zacks Investment Research raised Cardiovascular Systems from a “sell” rating to a “hold” rating in a research note on Monday, November 13th. Finally, Raymond James Financial reaffirmed a “hold” rating on shares of Cardiovascular Systems in a research note on Monday, December 4th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $26.50.

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Cardiovascular Systems by 12.6% during the second quarter. Vanguard Group Inc. now owns 1,864,604 shares of the medical device company’s stock worth $60,096,000 after buying an additional 208,248 shares in the last quarter. State Street Corp lifted its position in Cardiovascular Systems by 0.9% during the second quarter. State Street Corp now owns 677,462 shares of the medical device company’s stock worth $21,828,000 after buying an additional 6,074 shares in the last quarter. Jennison Associates LLC lifted its position in Cardiovascular Systems by 80.2% during the third quarter. Jennison Associates LLC now owns 22,647 shares of the medical device company’s stock worth $638,000 after buying an additional 10,080 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in Cardiovascular Systems by 77.8% during the second quarter. Parametric Portfolio Associates LLC now owns 59,884 shares of the medical device company’s stock worth $1,930,000 after buying an additional 26,212 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in Cardiovascular Systems in the second quarter valued at $398,000. Hedge funds and other institutional investors own 75.29% of the company’s stock.

The company has a current ratio of 4.30, a quick ratio of 3.83 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $841.44, a PE ratio of -395.27 and a beta of 2.32.

Cardiovascular Systems (NASDAQ:CSII) last posted its earnings results on Wednesday, February 7th. The medical device company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. Cardiovascular Systems had a positive return on equity of 0.74% and a negative net margin of 0.93%. The company had revenue of $52.63 million for the quarter, compared to the consensus estimate of $53.39 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. research analysts expect that Cardiovascular Systems Inc will post -0.03 earnings per share for the current year.

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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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