Guggenheim Begins Coverage on Cardiovascular Systems (NASDAQ:CSII)

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Guggenheim assumed coverage on shares of Cardiovascular Systems (NASDAQ:CSII) in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $58.00 target price on the medical device company’s stock.

Other analysts have also issued reports about the company. Stifel Nicolaus lowered Cardiovascular Systems from a buy rating to a hold rating and boosted their target price for the company from $41.00 to $45.00 in a research report on Tuesday, July 16th. They noted that the move was a valuation call. ValuEngine lowered Cardiovascular Systems from a buy rating to a hold rating in a research report on Wednesday, October 2nd. BidaskClub lowered Cardiovascular Systems from a buy rating to a hold rating in a research report on Wednesday, September 4th. Zacks Investment Research lowered Cardiovascular Systems from a hold rating to a strong sell rating and set a $47.00 target price for the company. in a research report on Thursday, August 8th. Finally, Lake Street Capital boosted their target price on Cardiovascular Systems from $50.00 to $60.00 and gave the company a buy rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Cardiovascular Systems presently has an average rating of Hold and an average price target of $50.40.

Shares of CSII stock traded up $1.72 during mid-day trading on Thursday, hitting $49.14. The company’s stock had a trading volume of 311,052 shares, compared to its average volume of 355,350. The company’s fifty day simple moving average is $47.98 and its 200-day simple moving average is $43.11. Cardiovascular Systems has a 52 week low of $24.84 and a 52 week high of $52.54. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.83 and a current ratio of 4.25. The company has a market cap of $1.73 billion, a PE ratio of -4,914.00 and a beta of 1.70.

Cardiovascular Systems (NASDAQ:CSII) last issued its earnings results on Tuesday, August 6th. The medical device company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Cardiovascular Systems had a negative return on equity of 0.18% and a negative net margin of 0.10%. The business had revenue of $68.23 million during the quarter, compared to analyst estimates of $66.04 million.

In other Cardiovascular Systems news, General Counsel Alexander Rosenstein sold 1,136 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $47.04, for a total transaction of $53,437.44. Following the completion of the sale, the general counsel now directly owns 79,589 shares of the company’s stock, valued at approximately $3,743,866.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sandra Sedo sold 882 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $47.06, for a total value of $41,506.92. Following the sale, the insider now directly owns 51,357 shares of the company’s stock, valued at $2,416,860.42. The disclosure for this sale can be found here. Insiders sold a total of 8,326 shares of company stock valued at $412,994 over the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Cardiovascular Systems by 1.1% during the 2nd quarter. BlackRock Inc. now owns 5,508,322 shares of the medical device company’s stock worth $236,471,000 after purchasing an additional 59,146 shares in the last quarter. Brown Capital Management LLC increased its holdings in Cardiovascular Systems by 21.7% during the 2nd quarter. Brown Capital Management LLC now owns 4,563,352 shares of the medical device company’s stock worth $195,905,000 after purchasing an additional 812,595 shares in the last quarter. Vanguard Group Inc. increased its holdings in Cardiovascular Systems by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,194,713 shares of the medical device company’s stock worth $94,218,000 after purchasing an additional 49,401 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Cardiovascular Systems by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,180,100 shares of the medical device company’s stock worth $50,662,000 after purchasing an additional 45,200 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Cardiovascular Systems by 1.8% during the 2nd quarter. Northern Trust Corp now owns 471,730 shares of the medical device company’s stock worth $20,252,000 after purchasing an additional 8,517 shares in the last quarter. 90.56% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Cardiovascular Systems (NASDAQ:CSII)

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