Shares of Cardiovascular Systems, Inc. (NASDAQ:CSII) have earned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $26.50.
A number of brokerages recently weighed in on CSII. BidaskClub raised shares of Cardiovascular Systems from a “hold” rating to a “buy” rating in a research note on Friday, March 9th. ValuEngine downgraded shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Leerink Swann lowered their target price on shares of Cardiovascular Systems from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Finally, Raymond James Financial reaffirmed a “hold” rating on shares of Cardiovascular Systems in a research note on Monday, December 4th.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can raised its stake in Cardiovascular Systems by 12.5% in the fourth quarter. Bank of Montreal Can now owns 53,889 shares of the medical device company’s stock valued at $1,277,000 after purchasing an additional 5,998 shares in the last quarter. Jennison Associates LLC grew its position in Cardiovascular Systems by 80.2% during the third quarter. Jennison Associates LLC now owns 22,647 shares of the medical device company’s stock valued at $638,000 after acquiring an additional 10,080 shares during the last quarter. Champlain Investment Partners LLC grew its position in Cardiovascular Systems by 21.3% during the fourth quarter. Champlain Investment Partners LLC now owns 2,253,355 shares of the medical device company’s stock valued at $53,382,000 after acquiring an additional 396,145 shares during the last quarter. Gamco Investors INC. ET AL grew its position in Cardiovascular Systems by 8.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 88,475 shares of the medical device company’s stock valued at $2,096,000 after acquiring an additional 7,045 shares during the last quarter. Finally, Granahan Investment Management Inc. MA grew its position in Cardiovascular Systems by 6.8% during the third quarter. Granahan Investment Management Inc. MA now owns 306,058 shares of the medical device company’s stock valued at $8,616,000 after acquiring an additional 19,398 shares during the last quarter. 82.55% of the stock is currently owned by institutional investors and hedge funds.
Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings results on Wednesday, February 7th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. Cardiovascular Systems had a negative net margin of 1.62% and a negative return on equity of 0.50%. The firm had revenue of $52.63 million for the quarter, compared to the consensus estimate of $53.39 million. During the same period in the prior year, the firm posted $0.03 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. equities research analysts expect that Cardiovascular Systems will post -0.07 EPS for the current year.
About Cardiovascular Systems
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.
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