Cardiovascular Systems Inc (NASDAQ:CSII) shares hit a new 52-week low on Wednesday . The stock traded as low as $21.02 and last traded at $21.85, with a volume of 823000 shares changing hands. The stock had previously closed at $21.85.

A number of analysts have recently commented on CSII shares. BidaskClub cut Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. ValuEngine downgraded Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price objective (down previously from $37.00) on shares of Cardiovascular Systems in a report on Thursday, October 26th. Zacks Investment Research downgraded Cardiovascular Systems from a “buy” rating to a “hold” rating in a report on Monday. Finally, Leerink Swann dropped their price objective on Cardiovascular Systems from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Cardiovascular Systems presently has an average rating of “Hold” and a consensus price target of $27.00.

The company has a current ratio of 4.30, a quick ratio of 3.83 and a debt-to-equity ratio of 0.18.

Cardiovascular Systems (NASDAQ:CSII) last announced its earnings results on Wednesday, February 7th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $52.63 million during the quarter, compared to analysts’ expectations of $53.39 million. Cardiovascular Systems had a negative return on equity of 0.51% and a negative net margin of 1.62%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. sell-side analysts anticipate that Cardiovascular Systems Inc will post -0.07 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in CSII. BlueCrest Capital Management Ltd purchased a new position in shares of Cardiovascular Systems during the 2nd quarter worth approximately $204,000. JPMorgan Chase & Co. increased its stake in Cardiovascular Systems by 34.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,239 shares of the medical device company’s stock valued at $265,000 after purchasing an additional 2,115 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Cardiovascular Systems in the 4th quarter valued at approximately $273,000. Trexquant Investment LP purchased a new position in Cardiovascular Systems during the third quarter worth $276,000. Finally, UBS Asset Management Americas Inc. increased its position in Cardiovascular Systems by 9.5% during the second quarter. UBS Asset Management Americas Inc. now owns 9,193 shares of the medical device company’s stock worth $296,000 after buying an additional 800 shares in the last quarter. 74.22% of the stock is owned by hedge funds and other institutional investors.

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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.

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