Analysts Set Cardiovascular Systems Inc. (CSII) Target Price at $27.50
Shares of Cardiovascular Systems Inc. (NASDAQ:CSII) have been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the stock. One analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $27.50.
CSII has been the topic of a number of research reports. Zacks Investment Research cut Cardiovascular Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Leerink Swann restated an “outperform” rating and set a $30.00 price target on shares of Cardiovascular Systems in a research note on Tuesday, November 15th. Needham & Company LLC upped their price target on Cardiovascular Systems from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. JMP Securities began coverage on Cardiovascular Systems in a research note on Friday, October 7th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Bank of America Corp. raised Cardiovascular Systems from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 4th.
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In related news, major shareholder Camber Capital Management Llc sold 1,100,000 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $23.26, for a total value of $25,586,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Laura Gillund sold 1,268 shares of the stock in a transaction on Friday, November 18th. The shares were sold at an average price of $26.79, for a total value of $33,969.72. Following the completion of the transaction, the insider now directly owns 69,541 shares in the company, valued at approximately $1,863,003.39. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Gamco Investors INC. ET AL raised its position in Cardiovascular Systems by 0.3% in the second quarter. Gamco Investors INC. ET AL now owns 36,400 shares of the medical device company’s stock valued at $669,000 after buying an additional 100 shares during the period. Cutler Group LP raised its position in Cardiovascular Systems by 4.7% in the second quarter. Cutler Group LP now owns 7,787 shares of the medical device company’s stock valued at $143,000 after buying an additional 350 shares during the period. BlackRock Group LTD raised its position in Cardiovascular Systems by 4.1% in the third quarter. BlackRock Group LTD now owns 12,172 shares of the medical device company’s stock valued at $289,000 after buying an additional 477 shares during the period. BlackRock Advisors LLC raised its position in Cardiovascular Systems by 3.3% in the second quarter. BlackRock Advisors LLC now owns 15,089 shares of the medical device company’s stock valued at $277,000 after buying an additional 486 shares during the period. Finally, California State Teachers Retirement System raised its position in Cardiovascular Systems by 1.0% in the third quarter. California State Teachers Retirement System now owns 67,511 shares of the medical device company’s stock valued at $1,603,000 after buying an additional 700 shares during the period. 70.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cardiovascular Systems (NASDAQ:CSII) opened at 24.92 on Friday. The firm’s 50-day moving average price is $24.37 and its 200-day moving average price is $21.39. Cardiovascular Systems has a 12 month low of $7.50 and a 12 month high of $27.38. The firm’s market cap is $823.93 million.
Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings results on Wednesday, October 26th. The medical device company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.13. Cardiovascular Systems had a negative return on equity of 30.19% and a negative net margin of 24.24%. The company had revenue of $49.80 million for the quarter, compared to analysts’ expectations of $205.50 million. During the same period in the prior year, the firm earned ($0.41) earnings per share. The firm’s revenue was up 13.5% compared to the same quarter last year. Analysts expect that Cardiovascular Systems will post ($0.21) earnings per share for the current year.
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.
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