Cardiovascular Systems (CSII) Downgraded by BidaskClub

Cardiovascular Systems (NASDAQ:CSII) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Wednesday.

Several other research firms have also issued reports on CSII. Needham & Company LLC lowered Cardiovascular Systems from a “buy” rating to a “hold” rating and cut their price target for the company from $33.11 to $23.00 in a report on Friday, December 15th. William Blair reissued a “market perform” rating on shares of Cardiovascular Systems in a report on Thursday, December 21st. Raymond James Financial reissued a “hold” rating on shares of Cardiovascular Systems in a report on Monday, December 4th. Zacks Investment Research raised Cardiovascular Systems from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Finally, Citigroup started coverage on Cardiovascular Systems in a report on Thursday, September 21st. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Cardiovascular Systems has a consensus rating of “Hold” and a consensus target price of $31.50.

Shares of Cardiovascular Systems (NASDAQ:CSII) opened at $23.85 on Wednesday. Cardiovascular Systems has a fifty-two week low of $23.00 and a fifty-two week high of $33.11. The company has a quick ratio of 3.83, a current ratio of 4.30 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $789.08, a price-to-earnings ratio of -397.50 and a beta of 2.52.

Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings results on Wednesday, October 25th. The medical device company reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Cardiovascular Systems had a positive return on equity of 0.74% and a negative net margin of 0.93%. The business had revenue of $49.70 million during the quarter, compared to analyst estimates of $51.00 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Cardiovascular Systems’s revenue for the quarter was down .2% on a year-over-year basis. analysts forecast that Cardiovascular Systems will post -0.03 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA grew its holdings in Cardiovascular Systems by 160.7% during the second quarter. BNP Paribas Arbitrage SA now owns 5,135 shares of the medical device company’s stock valued at $166,000 after purchasing an additional 3,165 shares during the period. BlueCrest Capital Management Ltd purchased a new position in shares of Cardiovascular Systems in the second quarter valued at about $204,000. Legal & General Group Plc lifted its position in shares of Cardiovascular Systems by 2.9% in the second quarter. Legal & General Group Plc now owns 7,763 shares of the medical device company’s stock valued at $249,000 after acquiring an additional 216 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Cardiovascular Systems by 0.4% in the second quarter. Advisor Group Inc. now owns 8,165 shares of the medical device company’s stock valued at $263,000 after acquiring an additional 35 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Cardiovascular Systems by 34.5% in the second quarter. JPMorgan Chase & Co. now owns 8,239 shares of the medical device company’s stock valued at $265,000 after acquiring an additional 2,115 shares in the last quarter. 74.86% of the stock is owned by institutional investors and hedge funds.

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Cardiovascular Systems Company Profile

Cardiovascular Systems, Inc is a medical technology company. The Company is engaged in treating patients suffering from peripheral and coronary artery diseases, including those with arterial calcium. The Company develops an orbital atherectomy technology for both peripheral and coronary commercial applications.

Analyst Recommendations for Cardiovascular Systems (NASDAQ:CSII)

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