A number of other research analysts have also issued reports on CSII. Barclays started coverage on shares of Cardiovascular Systems in a research report on Friday, July 17th. They set an overweight rating and a $45.00 target price on the stock. Northland Securities started coverage on shares of Cardiovascular Systems in a research report on Wednesday, July 22nd. They set an outperform rating and a $40.00 target price on the stock. Aegis increased their target price on shares of Cardiovascular Systems from $45.00 to $47.00 and gave the stock a buy rating in a research report on Wednesday, August 12th. SVB Leerink increased their price target on shares of Cardiovascular Systems from $40.00 to $45.00 and gave the stock an outperform rating in a research report on Wednesday, August 5th. Finally, Needham & Company LLC reiterated a buy rating and set a $44.00 price target on shares of Cardiovascular Systems in a research report on Friday, October 16th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $44.75.
Shares of CSII opened at $35.88 on Wednesday. Cardiovascular Systems has a 52 week low of $26.00 and a 52 week high of $55.22. The firm has a market cap of $1.44 billion, a P/E ratio of -46.00 and a beta of 1.11. The firm’s 50-day simple moving average is $36.75 and its 200 day simple moving average is $35.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.84 and a current ratio of 6.46.
Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings results on Tuesday, August 4th. The medical device company reported ($0.43) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.44) by $0.01. Cardiovascular Systems had a negative net margin of 11.51% and a negative return on equity of 15.62%. The business had revenue of $42.55 million for the quarter, compared to analyst estimates of $38.51 million. As a group, equities analysts forecast that Cardiovascular Systems will post -0.44 earnings per share for the current year.
In other news, insider Sandra Sedo sold 2,914 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $31.94, for a total transaction of $93,073.16. Following the completion of the transaction, the insider now owns 67,467 shares of the company’s stock, valued at $2,154,895.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Rhonda J. Robb purchased 1,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $31.97 per share, with a total value of $31,970.00. Following the purchase, the chief operating officer now directly owns 167,106 shares of the company’s stock, valued at approximately $5,342,378.82. The disclosure for this purchase can be found here. In the last three months, insiders purchased 4,200 shares of company stock valued at $135,200 and sold 8,731 shares valued at $279,300. 3.00% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in Cardiovascular Systems in the second quarter worth about $4,315,000. Swiss National Bank boosted its holdings in shares of Cardiovascular Systems by 27.2% during the 2nd quarter. Swiss National Bank now owns 86,900 shares of the medical device company’s stock valued at $2,742,000 after acquiring an additional 18,600 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Cardiovascular Systems by 67.2% in the 1st quarter. Invesco Ltd. now owns 391,729 shares of the medical device company’s stock worth $13,792,000 after purchasing an additional 157,382 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Cardiovascular Systems by 6.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 232,646 shares of the medical device company’s stock worth $7,340,000 after purchasing an additional 14,082 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in shares of Cardiovascular Systems by 11.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 37,104 shares of the medical device company’s stock worth $1,460,000 after purchasing an additional 3,830 shares during the period. 90.61% of the stock is owned by hedge funds and other institutional investors.
Cardiovascular Systems Company Profile
Cardiovascular Systems, Inc, a medical device company, develops and commercializes various devices to treat peripheral and coronary artery diseases in the United States. The company offers peripheral artery disease products, which are catheter-based platforms to treat a range of plaque types in above and below the knee leg arteries, including calcified plaque, as well as address various limitations related with surgical, catheter, and pharmacological treatment alternatives; and peripheral support products.
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