JMP Securities initiated coverage on shares of Cardiovascular Systems Inc. (NASDAQ:CSII) in a research note issued to investors on Friday. The firm issued an outperform rating and a $35.00 target price on the medical device company’s stock.
Several other equities analysts have also commented on CSII. Needham & Company LLC restated a buy rating and set a $23.00 price target (up previously from $20.00) on shares of Cardiovascular Systems in a research report on Wednesday, June 29th. Zacks Investment Research raised shares of Cardiovascular Systems from a hold rating to a buy rating and set a $21.00 price objective for the company in a report on Monday, July 4th. Bank of America Corp. raised shares of Cardiovascular Systems from an underperform rating to a neutral rating in a report on Thursday, August 4th. Finally, Leerink Swann raised shares of Cardiovascular Systems from a market perform rating to an outperform rating and set a $30.00 price objective for the company in a report on Monday, August 22nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $27.40.
Cardiovascular Systems (NASDAQ:CSII) opened at 24.45 on Friday. The stock’s market capitalization is $815.29 million. Cardiovascular Systems has a 12-month low of $7.50 and a 12-month high of $25.35. The firm’s 50-day moving average is $24.10 and its 200 day moving average is $18.79.
Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings results on Wednesday, August 3rd. The medical device company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.05. The business earned $48.50 million during the quarter, compared to analyst estimates of $46.01 million. Cardiovascular Systems had a negative net margin of 31.44% and a negative return on equity of 38.39%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. Equities research analysts anticipate that Cardiovascular Systems will post ($0.62) earnings per share for the current year.
In other Cardiovascular Systems news, major shareholder Camber Capital Management Llc sold 1,100,000 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $23.26, for a total transaction of $25,586,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Paul A. Koehn sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $22.17, for a total value of $88,680.00. Following the sale, the senior vice president now owns 102,652 shares in the company, valued at approximately $2,275,794.84. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Cardiovascular Systems by 27.6% in the first quarter. Wellington Management Group LLP now owns 3,018,859 shares of the medical device company’s stock valued at $31,306,000 after buying an additional 652,962 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Cardiovascular Systems during the second quarter valued at about $393,000. Amici Capital LLC bought a new stake in Cardiovascular Systems during the first quarter valued at about $830,000. Bank of New York Mellon Corp increased its stake in Cardiovascular Systems by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 142,313 shares of the medical device company’s stock valued at $2,615,000 after buying an additional 6,437 shares during the last quarter. Finally, Iguana Healthcare Management LLC bought a new stake in Cardiovascular Systems during the first quarter valued at about $754,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.
About Cardiovascular Systems
Cardiovascular Systems, Inc is a medical technology company. The Company is engaged in treating patients suffering from peripheral and coronary arterial diseases. It has developed an orbital atherectomy technology for peripheral and coronary commercial applications. Its peripheral arterial disease systems are catheter-based platforms that treat plaque types in leg arteries both above and below the knee.
Receive News & Ratings for Cardiovascular Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardiovascular Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.