Shares of Cardiovascular Systems Inc (NASDAQ:CSII) have been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $48.50.
CSII has been the subject of several recent analyst reports. Zacks Investment Research lowered Cardiovascular Systems from a “hold” rating to a “strong sell” rating and set a $47.00 price objective for the company. in a report on Thursday, August 8th. Stifel Nicolaus lowered Cardiovascular Systems from a “buy” rating to a “hold” rating and boosted their price objective 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. Lake Street Capital boosted their price objective on Cardiovascular Systems from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Cardiovascular Systems in a report on Wednesday, August 7th. Finally, BidaskClub lowered Cardiovascular Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th.
CSII stock traded up $1.00 during mid-day trading on Friday, reaching $49.50. 7,760 shares of the company traded hands, compared to its average volume of 263,907. 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 company has a market capitalization of $1.78 billion, a P/E ratio of -4,979.00 and a beta of 1.75. Cardiovascular Systems has a 52-week low of $24.84 and a 52-week high of $52.54. The company has a fifty day moving average price of $48.46 and a 200-day moving average price of $42.29.
In related news, insider Sandra Sedo sold 882 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $47.06, for a total value of $41,506.92. Following the completion of the sale, the insider now owns 51,357 shares in the company, valued at approximately $2,416,860.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Alexander Rosenstein sold 1,136 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $47.04, for a total value of $53,437.44. Following the completion of the sale, the general counsel now owns 79,589 shares of the company’s stock, valued at approximately $3,743,866.56. The disclosure for this sale can be found here. Insiders have sold 8,326 shares of company stock valued at $412,994 in the last three months. 2.80% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. MAI Capital Management bought a new stake in Cardiovascular Systems in the 2nd quarter worth approximately $615,000. Stonebridge Capital Advisors LLC bought a new stake in Cardiovascular Systems in the 2nd quarter worth approximately $26,000. Nuveen Asset Management LLC bought a new stake in Cardiovascular Systems in the 2nd quarter worth approximately $13,345,000. UBS Asset Management Americas Inc. lifted its position in Cardiovascular Systems by 13.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 23,047 shares of the medical device company’s stock worth $989,000 after buying an additional 2,674 shares during the last quarter. Finally, First Light Asset Management LLC lifted its position in Cardiovascular Systems by 0.5% in the 2nd quarter. First Light Asset Management LLC now owns 189,032 shares of the medical device company’s stock worth $8,115,000 after buying an additional 921 shares during the last quarter. Institutional investors own 90.27% of the company’s stock.
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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