Cardiovascular Systems Inc (CSII) Receives $44.00 Average Price Target from Analysts

Shares of Cardiovascular Systems Inc (NASDAQ:CSII) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $44.00.

Several equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Cardiovascular Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Cardiovascular Systems in a research report on Thursday, May 2nd. Zacks Investment Research raised shares of Cardiovascular Systems from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, April 18th. Bank of America downgraded shares of Cardiovascular Systems from a “buy” rating to an “underperform” rating and set a $42.00 price objective for the company. in a research report on Thursday, April 11th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Cardiovascular Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 5th.

Hedge funds have recently modified their holdings of the company. First Quadrant L P CA increased its position in shares of Cardiovascular Systems by 47.9% during the fourth quarter. First Quadrant L P CA now owns 18,475 shares of the medical device company’s stock worth $526,000 after acquiring an additional 5,981 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in Cardiovascular Systems by 2,291.5% during the first quarter. Meeder Asset Management Inc. now owns 21,356 shares of the medical device company’s stock worth $826,000 after purchasing an additional 20,463 shares during the last quarter. NJ State Employees Deferred Compensation Plan boosted its holdings in Cardiovascular Systems by 11.1% during the fourth 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 last quarter. Vanguard Group Inc. boosted its holdings in Cardiovascular Systems by 1.0% during the third quarter. Vanguard Group Inc. now owns 1,551,218 shares of the medical device company’s stock worth $60,714,000 after purchasing an additional 14,623 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Cardiovascular Systems by 1.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 836,593 shares of the medical device company’s stock worth $23,834,000 after purchasing an additional 12,645 shares during the last quarter. 93.58% of the stock is owned by institutional investors.

Shares of NASDAQ:CSII opened at $39.64 on Monday. Cardiovascular Systems has a 52 week low of $24.84 and a 52 week high of $42.64. The company has a quick ratio of 3.78, a current ratio of 4.25 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 792.80 and a beta of 2.08.

Cardiovascular Systems (NASDAQ:CSII) last issued its earnings results on Wednesday, May 1st. The medical device company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. Cardiovascular Systems had a net margin of 0.84% and a return on equity of 1.47%. The firm had revenue of $63.31 million during the quarter, compared to the consensus estimate of $62.80 million. On average, research analysts anticipate that Cardiovascular Systems will post -0.01 EPS for the current year.

About Cardiovascular Systems

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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