Cardiovascular Systems (NASDAQ:CSII) Hits New 52-Week High at $52.12

Shares of Cardiovascular Systems Inc (NASDAQ:CSII) hit a new 52-week high during trading on Friday . The company traded as high as $52.12 and last traded at $51.92, with a volume of 3390 shares traded. The stock had previously closed at $51.11.

CSII has been the topic of a number of analyst reports. Lake Street Capital lifted their target price on shares of Cardiovascular Systems from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. BidaskClub downgraded shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cardiovascular Systems in a research note on Wednesday, August 7th. Stifel Nicolaus downgraded shares of Cardiovascular Systems from a “buy” rating to a “hold” rating and lifted their target price for the stock from $41.00 to $45.00 in a research note on Tuesday, July 16th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Cardiovascular Systems from a “hold” rating to a “strong sell” rating and set a $47.00 target price on the stock. in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $48.50.

The company has a debt-to-equity ratio of 0.14, a current ratio of 4.25 and a quick ratio of 3.83. The business’s 50 day simple moving average is $47.29 and its 200 day simple moving average is $41.44. The company has a market capitalization of $1.80 billion, a PE ratio of -5,196.00 and a beta of 1.75.



Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $68.23 million for the quarter, compared to the consensus estimate of $66.04 million. Cardiovascular Systems had a negative net margin of 0.10% and a negative return on equity of 0.18%.

In other news, General Counsel Alexander Rosenstein sold 6,308 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $50.42, for a total value of $318,049.36. Following the sale, the general counsel now directly owns 78,187 shares of the company’s stock, valued at approximately $3,942,188.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sandra Sedo sold 882 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $47.06, for a total transaction of $41,506.92. Following the completion of the sale, the insider now directly owns 51,357 shares in the company, valued at $2,416,860.42. The disclosure for this sale can be found here. Insiders sold a total of 8,326 shares of company stock worth $412,994 over the last three months. Insiders own 2.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Brown Capital Management LLC grew its holdings in shares of Cardiovascular Systems by 21.7% in the second quarter. Brown Capital Management LLC now owns 4,563,352 shares of the medical device company’s stock valued at $195,905,000 after purchasing an additional 812,595 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Cardiovascular Systems in the second quarter valued at approximately $13,345,000. Federated Investors Inc. PA grew its holdings in shares of Cardiovascular Systems by 826.6% in the first quarter. Federated Investors Inc. PA now owns 293,558 shares of the medical device company’s stock valued at $11,349,000 after purchasing an additional 261,877 shares in the last quarter. Falcon Point Capital LLC grew its holdings in shares of Cardiovascular Systems by 651.0% in the first quarter. Falcon Point Capital LLC now owns 143,828 shares of the medical device company’s stock valued at $5,560,000 after purchasing an additional 124,676 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of Cardiovascular Systems by 316.7% in the second quarter. Eagle Asset Management Inc. now owns 150,501 shares of the medical device company’s stock valued at $6,461,000 after purchasing an additional 114,381 shares in the last quarter. 90.36% of the stock is currently owned by institutional investors and hedge funds.

About Cardiovascular Systems (NASDAQ:CSII)

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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