Cardiovascular Systems (NASDAQ:CSII) was upgraded by Bank of America from an “underperform” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
A number of other equities research analysts also recently issued reports on the stock. BidaskClub raised shares of Cardiovascular Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 22nd. ValuEngine raised shares of Cardiovascular Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, May 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cardiovascular Systems in a research report on Thursday, May 3rd. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.00.
CSII stock traded up $3.16 during trading on Wednesday, reaching $33.94. The stock had a trading volume of 3,801 shares, compared to its average volume of 200,415. Cardiovascular Systems has a one year low of $20.58 and a one year high of $33.11. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.99 and a current ratio of 4.46. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 1,026.00 and a beta of 2.21.
Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings data on Wednesday, May 2nd. The medical device company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.03. Cardiovascular Systems had a negative net margin of 0.59% and a negative return on equity of 1.03%. The business had revenue of $55.59 million during the quarter, compared to the consensus estimate of $55.63 million.
A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Cardiovascular Systems in the first quarter valued at about $126,000. Teacher Retirement System of Texas purchased a new position in Cardiovascular Systems in the fourth quarter valued at about $273,000. First Mercantile Trust Co. boosted its stake in Cardiovascular Systems by 95.2% in the first quarter. First Mercantile Trust Co. now owns 12,751 shares of the medical device company’s stock valued at $280,000 after acquiring an additional 6,218 shares during the last quarter. US Bancorp DE boosted its stake in Cardiovascular Systems by 51.7% in the fourth quarter. US Bancorp DE now owns 13,208 shares of the medical device company’s stock valued at $313,000 after acquiring an additional 4,500 shares during the last quarter. Finally, MetLife Investment Advisors LLC purchased a new position in Cardiovascular Systems in the fourth quarter valued at about $354,000. 81.08% of the stock is owned by institutional investors and hedge funds.
Cardiovascular Systems Company Profile
Cardiovascular Systems, Inc, a medical technology company, develops, manufactures, and markets devices to treat vascular diseases in the United States. The company offers peripheral arterial disease products, including Diamondback 360 Peripheral Orbital Atherectomy System (OAS), Diamondback 360 60cm Peripheral OAS, Diamondback 360 4 French 1.25 Peripheral OAS, Diamondback 360 1.50 Peripheral OAS, Diamondback 360 2.00 Peripheral OAS, and Stealth 360 Peripheral OAS, which are catheter-based platforms for treating a range of plaque types in leg arteries above and below the knee, including calcified plaque, as well as address various limitations associated with surgical, catheter, and pharmacological treatment alternatives.
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