BidaskClub lowered shares of Cardiovascular Systems (NASDAQ:CSII) from a sell rating to a strong sell rating in a research report released on Wednesday morning.
Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised Cardiovascular Systems from a sell rating to a hold rating in a research note on Monday, November 13th. Citigroup started coverage on Cardiovascular Systems in a research note on Thursday, September 21st. They issued a market perform rating for the company. William Blair reaffirmed a market perform rating on shares of Cardiovascular Systems in a research note on Thursday, December 21st. Needham & Company LLC lowered Cardiovascular Systems from a buy rating to a hold rating and lowered their price objective for the company from $33.11 to $23.00 in a research note on Friday, December 15th. Finally, Raymond James Financial reaffirmed a hold rating on shares of Cardiovascular Systems in a research note on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Cardiovascular Systems presently has a consensus rating of Hold and an average price target of $31.50.
Cardiovascular Systems (NASDAQ CSII) traded up $0.87 during trading hours on Wednesday, hitting $24.76. The stock had a trading volume of 266,100 shares, compared to its average volume of 207,064. The company has a market cap of $844.86, a price-to-earnings ratio of 1,238.00 and a beta of 2.53. Cardiovascular Systems has a 1-year low of $23.00 and a 1-year high of $33.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.30 and a quick ratio of 3.83.
Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings data on Wednesday, October 25th. The medical device company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $49.70 million during the quarter, compared to analyst estimates of $51.00 million. Cardiovascular Systems had a positive return on equity of 0.74% and a negative net margin of 0.93%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the company earned ($0.06) EPS. analysts expect that Cardiovascular Systems will post -0.03 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA lifted its stake in shares of Cardiovascular Systems by 160.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,135 shares of the medical device company’s stock worth $166,000 after acquiring an additional 3,165 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Cardiovascular Systems during the 2nd quarter worth approximately $204,000. Legal & General Group Plc lifted its stake in shares of Cardiovascular Systems by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 7,763 shares of the medical device company’s stock worth $249,000 after acquiring an additional 216 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of Cardiovascular Systems by 0.4% during the 2nd quarter. Advisor Group Inc. now owns 8,165 shares of the medical device company’s stock worth $263,000 after acquiring an additional 35 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Cardiovascular Systems by 34.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,239 shares of the medical device company’s stock worth $265,000 after acquiring an additional 2,115 shares during the last quarter. 74.86% of the stock is owned by hedge funds and other institutional investors.
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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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