Today, Cardiovascular Systems Inc. (CSII) Given Consensus Rating of “Buy” by Analysts

Today, Cardiovascular Systems Inc. (CSII) Given Consensus Rating of “Buy” by Analysts
Shares of Cardiovascular Systems Inc. (NASDAQ:CSII) have received a consensus recommendation of “Buy” from the seven brokerages that are currently covering the stock. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $27.50.

CSII has been the subject of several research reports. Zacks Investment Research lowered shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Leerink Swann restated an “outperform” rating and set a $30.00 price objective on shares of Cardiovascular Systems in a research report on Tuesday, November 15th. Needham & Company LLC raised their price objective on shares of Cardiovascular Systems from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. JMP Securities initiated coverage on shares of Cardiovascular Systems in a research report on Friday, October 7th. They set an “outperform” rating and a $35.00 price objective for the company. Finally, Bank of America Corp. upgraded shares of Cardiovascular Systems from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 4th.

Cardiovascular Systems (NASDAQ:CSII) traded down 2.48% during midday trading on Friday, reaching $25.54. 48,380 shares of the company were exchanged. The firm’s 50-day moving average price is $24.32 and its 200 day moving average price is $21.16. The stock’s market capitalization is $844.43 million. Cardiovascular Systems has a 52-week low of $7.50 and a 52-week high of $27.38.

Cardiovascular Systems (NASDAQ:CSII) last announced its earnings results on Wednesday, October 26th. The medical device company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.13. The firm earned $49.80 million during the quarter, compared to analyst estimates of $205.50 million. Cardiovascular Systems had a negative net margin of 24.24% and a negative return on equity of 30.19%. Cardiovascular Systems’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.41) EPS. Equities analysts predict that Cardiovascular Systems will post ($0.21) earnings per share for the current year.

In other news, major shareholder Camber Capital Management Llc sold 1,100,000 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $23.26, for a total value of $25,586,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Paul A. Koehn sold 5,969 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $25.02, for a total transaction of $149,344.38. Following the completion of the sale, the senior vice president now directly owns 73,321 shares of the company’s stock, valued at $1,834,491.42. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in Cardiovascular Systems by 27.6% in the first quarter. Wellington Management Group LLP now owns 3,018,859 shares of the medical device company’s stock worth $31,306,000 after buying an additional 652,962 shares during the period. Vanguard Group Inc. raised its stake in Cardiovascular Systems by 13.8% in the second quarter. Vanguard Group Inc. now owns 1,276,110 shares of the medical device company’s stock worth $23,449,000 after buying an additional 155,207 shares during the period. BlackRock Fund Advisors raised its stake in Cardiovascular Systems by 1.8% in the third quarter. BlackRock Fund Advisors now owns 1,047,959 shares of the medical device company’s stock worth $24,879,000 after buying an additional 18,685 shares during the period. D. E. Shaw & Co. Inc. raised its stake in Cardiovascular Systems by 19.6% in the third quarter. D. E. Shaw & Co. Inc. now owns 975,483 shares of the medical device company’s stock worth $23,158,000 after buying an additional 159,558 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Cardiovascular Systems by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 820,526 shares of the medical device company’s stock worth $19,479,000 after buying an additional 14,748 shares during the period. 69.77% of the stock is owned by institutional investors and hedge funds.

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