BidaskClub upgraded shares of Cardiovascular Systems (NASDAQ:CSII) from a hold rating to a buy rating in a report released on Saturday, BidAskClub reports.

A number of other brokerages also recently weighed in on CSII. Needham & Company LLC reiterated a hold rating on shares of Cardiovascular Systems in a report on Wednesday, August 7th. Zacks Investment Research downgraded Cardiovascular Systems from a hold rating to a strong sell rating and set a $47.00 price target for the company. in a report on Thursday, August 8th. Lake Street Capital increased their price target on Cardiovascular Systems from $50.00 to $60.00 and gave the stock a buy rating in a report on Wednesday, August 7th. Finally, Stifel Nicolaus downgraded Cardiovascular Systems from a buy rating to a hold rating and increased their price target for the stock from $41.00 to $45.00 in a report on Tuesday, July 16th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cardiovascular Systems currently has a consensus rating of Hold and a consensus price target of $48.50.

NASDAQ CSII opened at $50.46 on Friday. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -5,046.00 and a beta of 1.77. Cardiovascular Systems has a twelve month low of $24.84 and a twelve month high of $50.66. The stock has a fifty day simple moving average of $45.32 and a 200 day simple moving average of $39.78. The company has a quick ratio of 3.83, a current ratio of 4.25 and a debt-to-equity ratio of 0.14.

Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.04 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.04. Cardiovascular Systems had a negative return on equity of 0.18% and a negative net margin of 0.10%. The firm had revenue of $68.23 million during the quarter, compared to the consensus estimate of $66.04 million. Research analysts expect that Cardiovascular Systems will post 0.02 earnings per share for the current fiscal year.

In other news, General Counsel Alexander Rosenstein sold 1,136 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $47.04, for a total transaction of $53,437.44. Following the transaction, the general counsel now owns 79,589 shares of the company’s stock, valued at approximately $3,743,866.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sandra Sedo sold 882 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $47.06, for a total transaction of $41,506.92. Following the transaction, the insider now directly owns 51,357 shares in the company, valued at approximately $2,416,860.42. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Stonebridge Capital Advisors LLC bought a new position in shares of Cardiovascular Systems during the 2nd quarter worth about $26,000. Advisor Group Inc. boosted its position in shares of Cardiovascular Systems by 88.8% during the 2nd quarter. Advisor Group Inc. now owns 655 shares of the medical device company’s stock worth $28,000 after purchasing an additional 308 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of Cardiovascular Systems during the 2nd quarter worth about $28,000. Personal Wealth Partners bought a new position in shares of Cardiovascular Systems during the 2nd quarter worth about $78,000. Finally, Pearl River Capital LLC bought a new position in shares of Cardiovascular Systems during the 1st quarter worth about $98,000. 94.33% of the stock is currently owned by 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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