Cardiovascular Systems (NASDAQ:CSII)‘s stock had its “hold” rating restated by Zacks Investment Research in a research note issued on Monday.

According to Zacks, “Cardiovascular Systems exited first-quarter fiscal 2019 on a mixed note. The company continued to see increased revenues from Atherectomy franchises, growing international sales of OAS and top-line contributions from its emerging product pipeline. We are also upbeat about Cardiovascular Systems’ recent announcement of the first global commercial use of Stealth 360 Peripheral OAS in Hong Kong. Further, the company is progressing well with the international distribution agreement with OrbusNeich to sell its coronary and peripheral OAS outside the United States and Japan. According to management, the company saw the strongest quarterly growth in the first quarter in the last 18 months. Over the past six months, Cardiovascular Systems has outperformed its industry. On the flip side, the company faces cut-throat competition in the niche space. Further, its failure to enter global markets might affect results.”

A number of other analysts have also recently issued reports on CSII. BidaskClub cut Cardiovascular Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Lake Street Capital reissued a “buy” rating and issued a $50.00 target price on shares of Cardiovascular Systems in a research report on Wednesday, August 1st. Stifel Nicolaus initiated coverage on Cardiovascular Systems in a research report on Wednesday, August 22nd. They issued a “buy” rating and a $45.00 target price for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cardiovascular Systems in a research report on Wednesday, October 31st. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $35.20.

CSII opened at $29.25 on Monday. Cardiovascular Systems has a one year low of $20.58 and a one year high of $40.00. The stock has a market capitalization of $1.08 billion, a PE ratio of 585.00 and a beta of 2.36. The company has a current ratio of 4.54, a quick ratio of 4.04 and a debt-to-equity ratio of 0.16.

Cardiovascular Systems (NASDAQ:CSII) last announced its earnings results on Tuesday, October 30th. The medical device company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The firm had revenue of $56.27 million during the quarter, compared to analyst estimates of $55.96 million. Cardiovascular Systems had a net margin of 0.36% and a return on equity of 0.62%. On average, research analysts expect that Cardiovascular Systems will post -0.09 earnings per share for the current year.

In other Cardiovascular Systems news, CEO Scott R. Ward bought 2,500 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was acquired at an average cost of $38.39 per share, with a total value of $95,975.00. Following the purchase, the chief executive officer now owns 278,362 shares in the company, valued at approximately $10,686,317.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Martha Goldberg Aronson bought 3,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The shares were acquired at an average cost of $28.72 per share, with a total value of $86,160.00. Following the completion of the purchase, the director now owns 3,000 shares in the company, valued at approximately $86,160. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 3,177 shares of company stock valued at $119,274. Company insiders own 2.80% of the company’s stock.

Several hedge funds have recently modified their holdings of CSII. Royal Bank of Canada raised its stake in shares of Cardiovascular Systems by 68.3% during the 1st quarter. Royal Bank of Canada now owns 27,411 shares of the medical device company’s stock worth $601,000 after buying an additional 11,128 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in Cardiovascular Systems in the 2nd quarter valued at approximately $249,000. Bank of Montreal Can increased its stake in Cardiovascular Systems by 9.3% in the 2nd quarter. Bank of Montreal Can now owns 56,773 shares of the medical device company’s stock valued at $1,835,000 after purchasing an additional 4,817 shares in the last quarter. Hartford Investment Management Co. purchased a new position in Cardiovascular Systems in the 2nd quarter valued at approximately $266,000. Finally, Diversified Trust Co purchased a new position in Cardiovascular Systems in the 2nd quarter valued at approximately $277,000. 80.07% of the stock is owned by institutional investors and hedge funds.

Cardiovascular Systems Company Profile

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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