Cardiovascular Systems (CSII) Cut to Strong Sell at BidaskClub

Cardiovascular Systems (NASDAQ:CSII) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday.

Several other research analysts have also commented on the company. William Blair reiterated a “market perform” rating on shares of Cardiovascular Systems in a research report on Thursday, December 21st. Needham & Company LLC lowered Cardiovascular Systems from a “buy” rating to a “hold” rating and dropped their price target for the stock from $33.11 to $23.00 in a research report on Friday, December 15th. Raymond James Financial reiterated a “hold” rating on shares of Cardiovascular Systems in a research report on Monday, December 4th. Zacks Investment Research upgraded Cardiovascular Systems from a “sell” rating to a “hold” rating in a research report on Monday, November 13th. Finally, Citigroup began coverage on Cardiovascular Systems in a research report on Thursday, September 21st. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned 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 on Wednesday, reaching $24.76. The company had a trading volume of 266,100 shares, compared to its average volume of 207,064. The stock has a market capitalization of $844.86, a price-to-earnings ratio of 1,238.00 and a beta of 2.53. Cardiovascular Systems has a 12 month low of $23.00 and a 12 month high of $33.11. The company has a current ratio of 4.30, a quick ratio of 3.83 and a debt-to-equity ratio of 0.18.

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 the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The company 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 firm’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) earnings per share. analysts predict that Cardiovascular Systems will post -0.03 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSII. Advisor Group Inc. boosted its position in shares of Cardiovascular Systems by 0.4% during the second quarter. Advisor Group Inc. now owns 8,165 shares of the medical device company’s stock valued at $263,000 after buying an additional 35 shares during the period. Legal & General Group Plc boosted its position in shares of Cardiovascular Systems by 2.9% during 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 period. The Manufacturers Life Insurance Company boosted its position in shares of Cardiovascular Systems by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 25,114 shares of the medical device company’s stock valued at $809,000 after buying an additional 299 shares during the period. American Century Companies Inc. boosted its position in shares of Cardiovascular Systems by 0.7% during the second quarter. American Century Companies Inc. now owns 81,325 shares of the medical device company’s stock valued at $2,621,000 after buying an additional 568 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Cardiovascular Systems by 9.5% during the second quarter. UBS Asset Management Americas Inc. now owns 9,193 shares of the medical device company’s stock valued at $296,000 after buying an additional 800 shares during the period. Institutional investors own 74.86% of the company’s stock.

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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.

Analyst Recommendations for Cardiovascular Systems (NASDAQ:CSII)

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