BidaskClub lowered shares of Cardiovascular Systems (NASDAQ:CSII) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other brokerages have also recently issued reports on CSII. ValuEngine raised shares of Cardiovascular Systems from a hold rating to a buy rating in a report on Friday, July 6th. Zacks Investment Research cut shares of Cardiovascular Systems from a hold rating to a strong sell rating in a report on Wednesday, September 12th. Stifel Nicolaus started coverage on shares of Cardiovascular Systems in a report on Wednesday, August 22nd. They set a buy rating and a $45.00 target price on the stock. Lake Street Capital reissued a buy rating and set a $50.00 target price on shares of Cardiovascular Systems in a report on Wednesday, August 1st. Finally, Bank of America raised shares of Cardiovascular Systems from an underperform rating to a buy rating in a report on Wednesday, June 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $35.20.

Shares of CSII stock opened at $37.97 on Friday. The company has a current ratio of 4.47, a quick ratio of 4.03 and a debt-to-equity ratio of 0.16. Cardiovascular Systems has a 1 year low of $20.58 and a 1 year high of $40.00. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 740.20 and a beta of 2.45.

Cardiovascular Systems (NASDAQ:CSII) last issued its earnings results on Monday, July 30th. The medical device company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Cardiovascular Systems had a net margin of 0.79% and a return on equity of 1.36%. The business had revenue of $59.15 million for the quarter, compared to analysts’ expectations of $58.43 million. sell-side analysts expect that Cardiovascular Systems will post -0.07 EPS for the current fiscal year.

In other news, CFO Jeffrey S. Points sold 971 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $37.54, for a total transaction of $36,451.34. Following the completion of the transaction, the chief financial officer now directly owns 23,229 shares in the company, valued at approximately $872,016.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott R. Ward purchased 2,500 shares of Cardiovascular Systems stock in a transaction dated Wednesday, August 29th. The shares were purchased at an average price of $38.39 per share, with a total value of $95,975.00. Following the completion of the transaction, the chief executive officer now directly owns 278,362 shares in the company, valued at $10,686,317.18. The disclosure for this purchase can be found here. Insiders have sold a total of 3,177 shares of company stock valued at $119,274 over the last 90 days. Company insiders own 3.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in shares of Cardiovascular Systems during the 2nd quarter valued at $114,000. SG Americas Securities LLC purchased a new position in shares of Cardiovascular Systems during the 1st quarter valued at $126,000. Teacher Retirement System of Texas purchased a new position in shares of Cardiovascular Systems during the 2nd quarter valued at $218,000. Taylor Cottrill Erickson & Associates Inc. purchased a new position in shares of Cardiovascular Systems during the 2nd quarter valued at $222,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Cardiovascular Systems during the 2nd quarter valued at $249,000. Hedge funds and other institutional investors own 84.55% of the company’s stock.

Cardiovascular Systems Company Profile

Cardiovascular Systems, Inc, a medical device company, develops, manufactures, and commercializes various devices to treat vascular and coronary diseases in the United States. The company offers peripheral arterial disease products, including Diamondback 360 Peripheral, Predator 360, Stealth 360 Peripheral Orbital Atherectomy System (OAS), Diamondback 360 60cm Peripheral OAS, Diamondback 360 Low Profile Peripheral, Diamondback 360 1.50 Peripheral, Diamondback 360 2.00 Peripheral, Diamondback 360 200cm Peripheral, and Diamondback 360 180cm Peripheral, 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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Analyst Recommendations for Cardiovascular Systems (NASDAQ:CSII)

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