Trade Report: The Cardiovascular Systems Inc. (CSII) Receives $27.50 Consensus Price Target from Brokerages

The Cardiovascular Systems Inc. (CSII) Receives $27.50 Consensus Price Target from Brokerages

Shares of Cardiovascular Systems Inc. (NASDAQ:CSII) have earned a consensus rating of “Buy” from the seven analysts that are covering the company. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $27.50.

CSII has been the topic of several recent analyst reports. Zacks Investment Research raised Cardiovascular Systems from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Tuesday, October 4th. Needham & Company LLC lifted their target price on Cardiovascular Systems from $23.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Bank of America Corp. raised Cardiovascular Systems from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 4th. Leerink Swann reaffirmed an “outperform” rating and set a $30.00 target price on shares of Cardiovascular Systems in a research note on Tuesday, November 15th. Finally, JMP Securities initiated coverage on Cardiovascular Systems in a research note on Friday, October 7th. They set an “outperform” rating and a $35.00 target price on the stock.

In related 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 value of $25,586,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Paul A. Koehn sold 5,969 shares of Cardiovascular Systems stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $25.02, for a total value of $149,344.38. Following the completion of the transaction, the senior vice president now owns 73,321 shares in the company, valued at $1,834,491.42. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Several institutional investors have recently modified their holdings of CSII. Gamco Investors INC. ET AL boosted its position in shares of 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 worth $669,000 after buying an additional 100 shares during the last quarter. Cutler Group LP boosted its position in shares of Cardiovascular Systems by 4.7% in the second quarter. Cutler Group LP now owns 7,787 shares of the medical device company’s stock worth $143,000 after buying an additional 350 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Cardiovascular Systems by 4.1% in the third quarter. BlackRock Group LTD now owns 12,172 shares of the medical device company’s stock worth $289,000 after buying an additional 477 shares during the last quarter. BlackRock Advisors LLC boosted its position in shares of Cardiovascular Systems by 3.3% in the second quarter. BlackRock Advisors LLC now owns 15,089 shares of the medical device company’s stock worth $277,000 after buying an additional 486 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Cardiovascular Systems by 1.0% in the third quarter. California State Teachers Retirement System now owns 67,511 shares of the medical device company’s stock worth $1,603,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 69.77% of the company’s stock.

Shares of Cardiovascular Systems (NASDAQ:CSII) opened at 25.59 on Friday. The stock’s market capitalization is $846.08 million. Cardiovascular Systems has a 12 month low of $7.50 and a 12 month high of $27.38. The stock has a 50 day moving average price of $24.36 and a 200 day moving average price of $21.23.

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

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