Todays Report: The Cardiovascular Systems Inc. (CSII) Rating Increased to Strong-Buy at Feltl & Co.

The Cardiovascular Systems Inc. (CSII) Rating Increased to Strong-Buy at Feltl & Co.

Cardiovascular Systems Inc. (NASDAQ:CSII) was upgraded by analysts at Feltl & Co. from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday. The firm presently has a $30.00 target price on the medical device company’s stock. Feltl & Co.’s price objective would suggest a potential upside of 34.83% from the company’s previous close.

A number of other research firms have also weighed in on CSII. Zacks Investment Research lowered shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Needham & Company LLC raised their target price on Cardiovascular Systems from $23.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Leerink Swann raised Cardiovascular Systems from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a report on Monday, August 22nd. JMP Securities started coverage on Cardiovascular Systems in a report on Friday, October 7th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Bank of America Corp. raised Cardiovascular Systems from an “underperform” rating to a “neutral” rating in a report on Thursday, August 4th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $27.83.

Shares of Cardiovascular Systems (NASDAQ:CSII) opened at 22.25 on Thursday. Cardiovascular Systems has a 52-week low of $7.50 and a 52-week high of $25.35. The firm’s 50-day moving average is $23.69 and its 200 day moving average is $19.73. The stock’s market cap is $733.92 million.

Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings data on Wednesday, October 26th. The medical device company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. Cardiovascular Systems had a negative net margin of 24.24% and a negative return on equity of 29.84%. The firm had revenue of $49.80 million for the quarter, compared to analyst estimates of $205.50 million. During the same period last year, the firm posted ($0.41) EPS. Cardiovascular Systems’s quarterly revenue was up 13.5% on a year-over-year basis. Analysts forecast that Cardiovascular Systems will post ($0.21) earnings per share for the current fiscal year.

In other news, major shareholder Camber Capital Management Llc sold 1,100,000 shares of Cardiovascular Systems stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $23.26, for a total transaction of $25,586,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Paul A. Koehn sold 30,910 shares of Cardiovascular Systems stock in a transaction on Monday, October 10th. The stock was sold at an average price of $25.07, for a total value of $774,913.70. Following the transaction, the senior vice president now directly owns 110,200 shares of the company’s stock, valued at approximately $2,762,714. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL increased its position in Cardiovascular Systems by 0.3% in the second quarter. Gamco Investors INC. ET AL now owns 36,400 shares of the medical device company’s stock valued at $669,000 after buying an additional 100 shares during the period. California Public Employees Retirement System increased its position in shares of Cardiovascular Systems by 9.5% in the second quarter. California Public Employees Retirement System now owns 22,000 shares of the medical device company’s stock valued at $404,000 after buying an additional 1,900 shares during the last quarter. Swiss National Bank increased its position in shares of Cardiovascular Systems by 14.1% in the second quarter. Swiss National Bank now owns 50,900 shares of the medical device company’s stock valued at $935,000 after buying an additional 6,300 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Cardiovascular Systems by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 142,313 shares of the medical device company’s stock valued at $2,615,000 after buying an additional 6,437 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Cardiovascular Systems during the second quarter valued at $872,000. 67.01% of the stock is owned by institutional investors and hedge funds.

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