Zacks Investment Research upgraded shares of Cardiovascular Systems (NASDAQ:CSII) from a hold rating to a buy rating in a research report sent to investors on Thursday, Zacks.com reports. The brokerage currently has $39.00 target price on the medical device company’s stock.

According to Zacks, “Cardiovascular Systems witnessed year-over-year increase in the Coronary and Peripheral device segments in the last-reported quarter. The company continued to see higher revenues from Atherectomy franchises, growing international sales of OAS and top-line contributions from the emerging product pipeline. We are also upbeat about the company’s recent announcement of the first global use of Diamondback 360 Coronary OAS in UAE. Further, the company is progressing with the international distribution agreement with OrbusNeich to sell its coronary and peripheral OAS outside the United States and Japan. In the past three months, Cardiovascular Systems has outperformed the industry. On the flip side, the company faces cut-throat competition in the niche space. Further, its failure to enter global markets might affect results.”

Other equities analysts also recently issued reports about the company. BidaskClub raised Cardiovascular Systems from a hold rating to a buy rating in a research report on Tuesday, January 22nd. ValuEngine raised Cardiovascular Systems from a buy rating to a strong-buy rating in a research report on Tuesday, March 5th. Finally, Bank of America downgraded Cardiovascular Systems from a buy rating to an underperform rating and set a $42.00 target price on the stock. in a research report on Thursday, April 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $44.00.

NASDAQ CSII opened at $34.16 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.88 and a current ratio of 4.38. Cardiovascular Systems has a 1 year low of $21.88 and a 1 year high of $42.64. The firm has a market capitalization of $1.19 billion, a P/E ratio of 683.20 and a beta of 2.16.

Cardiovascular Systems (NASDAQ:CSII) last released its earnings results on Wednesday, January 30th. The medical device company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. Cardiovascular Systems had a return on equity of 1.28% and a net margin of 0.74%. The firm had revenue of $60.21 million for the quarter, compared to the consensus estimate of $59.66 million. On average, analysts expect that Cardiovascular Systems will post -0.1 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. grew its position in Cardiovascular Systems by 1.5% during the 4th quarter. Prudential Financial Inc. now owns 32,495 shares of the medical device company’s stock worth $926,000 after purchasing an additional 471 shares during the period. Thrivent Financial for Lutherans grew its position in Cardiovascular Systems by 0.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 139,721 shares of the medical device company’s stock worth $3,980,000 after purchasing an additional 523 shares during the period. American International Group Inc. grew its position in Cardiovascular Systems by 3.6% during the 4th quarter. American International Group Inc. now owns 22,304 shares of the medical device company’s stock worth $635,000 after purchasing an additional 765 shares during the period. NJ State Employees Deferred Compensation Plan grew its position in Cardiovascular Systems by 11.1% during the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 10,000 shares of the medical device company’s stock worth $285,000 after purchasing an additional 1,000 shares during the period. Finally, Legal & General Group Plc grew its position in Cardiovascular Systems by 21.7% during the 4th quarter. Legal & General Group Plc now owns 6,065 shares of the medical device company’s stock worth $173,000 after purchasing an additional 1,082 shares during the period. 84.54% of the stock is currently owned by institutional investors.

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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