Research Analysts’ Weekly Ratings Changes for Cardiovascular Systems (CSII)

Several analysts have recently updated their ratings and price targets for Cardiovascular Systems (NASDAQ: CSII):

  • 11/17/2021 – Cardiovascular Systems was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating.
  • 11/12/2021 – Cardiovascular Systems was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. They now have a $25.00 price target on the stock. According to Zacks, “Cardiovascular Systems’ first-quarter fiscal 2022 loss was wider than the consensus mark. The company’s revenues too lagged the Zacks Consensus Estimate. Peripheral revenues registered a significant decline as the resurgence of COVID-19 and the related staffing shortages disrupted referral patterns and had the largest impact on more elective procedures. Cardiovascular Systems noted that the severity and duration of the COVID-19 impact were greater than expected in Q1. The company has slashed its fiscal 2022 revenue guidance. In the past year, Cardiovascular Systems underperformed its industry. Yet, Coronary franchise registered strong performance globally on continued strength in Japan and the growing adoption of coronary OAS in Europe. The company certified 80 coronary interventionalists outside the United States.”
  • 11/10/2021 – Cardiovascular Systems had its price target lowered by analysts at Oppenheimer Holdings Inc. from $48.00 to $40.00. They now have an “outperform” rating on the stock.
  • 11/10/2021 – Cardiovascular Systems had its price target lowered by analysts at SVB Leerink LLC from $45.00 to $40.00. They now have an “outperform” rating on the stock.
  • 11/10/2021 – Cardiovascular Systems was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating.
  • 9/26/2021 – Cardiovascular Systems had its “buy” rating reaffirmed by analysts at SVB Leerink LLC.

NASDAQ:CSII traded up $0.66 during trading hours on Thursday, reaching $23.72. 524,222 shares of the company traded hands, compared to its average volume of 223,662. The firm’s 50-day simple moving average is $32.18. The stock has a market capitalization of $961.87 million, a PE ratio of -46.51 and a beta of 0.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.34 and a current ratio of 6.11. Cardiovascular Systems, Inc. has a 1-year low of $22.52 and a 1-year high of $48.28.

Cardiovascular Systems (NASDAQ:CSII) last announced its earnings results on Monday, November 8th. The medical device company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.12). The company had revenue of $58.40 million for the quarter, compared to analyst estimates of $63.72 million. Cardiovascular Systems had a negative net margin of 7.77% and a negative return on equity of 7.40%. Cardiovascular Systems’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) EPS. As a group, sell-side analysts predict that Cardiovascular Systems, Inc. will post -0.46 EPS for the current year.

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in shares of Cardiovascular Systems by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 352,949 shares of the medical device company’s stock worth $11,588,000 after buying an additional 3,521 shares during the period. Captrust Financial Advisors raised its position in shares of Cardiovascular Systems by 33.6% in the 3rd quarter. Captrust Financial Advisors now owns 10,362 shares of the medical device company’s stock worth $340,000 after buying an additional 2,606 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Cardiovascular Systems by 168.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 38,512 shares of the medical device company’s stock worth $1,264,000 after buying an additional 24,153 shares during the period. Two Sigma Advisers LP raised its position in shares of Cardiovascular Systems by 100.9% in the 3rd quarter. Two Sigma Advisers LP now owns 48,977 shares of the medical device company’s stock worth $1,608,000 after buying an additional 24,600 shares during the period. Finally, Maverick Capital Ltd. raised its position in shares of Cardiovascular Systems by 124.7% in the 3rd quarter. Maverick Capital Ltd. now owns 24,081 shares of the medical device company’s stock worth $791,000 after buying an additional 13,365 shares during the period. 93.60% of the stock is currently owned by institutional investors.

Cardiovascular Systems, Inc is a medical device company, which engages in the development and commercialization of solutions for treating vascular and coronary disease. It offers orbital atherectomy systems for both peripheral and coronary commercial applications. The company was founded in 1989 and is headquartered in St.

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