Cardiovascular Systems (NASDAQ:CSII) Sets New 52-Week High at $52.78

Cardiovascular Systems Inc (NASDAQ:CSII)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $52.78 and last traded at $52.75, with a volume of 375 shares trading hands. The stock had previously closed at $52.38.

Several analysts recently issued reports on CSII shares. BidaskClub raised Cardiovascular Systems from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Zacks Investment Research upgraded shares of Cardiovascular Systems from a “strong sell” rating to a “hold” rating and set a $43.00 price objective for the company in a report on Monday. ValuEngine lowered shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Guggenheim started coverage on shares of Cardiovascular Systems in a report on Thursday, October 17th. They issued a “buy” rating and a $58.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Cardiovascular Systems has a consensus rating of “Hold” and a consensus price target of $49.60.

The company’s fifty day moving average price is $47.16 and its 200-day moving average price is $46.55. The stock has a market capitalization of $1.78 billion, a PE ratio of -5,298.00 and a beta of 1.62. The company has a quick ratio of 3.04, a current ratio of 3.45 and a debt-to-equity ratio of 0.15.

Cardiovascular Systems (NASDAQ:CSII) last released its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.09). Cardiovascular Systems had a negative net margin of 1.23% and a negative return on equity of 2.21%. The business had revenue of $64.49 million for the quarter, compared to analysts’ expectations of $64.03 million. Equities research analysts anticipate that Cardiovascular Systems Inc will post -0.06 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Cardiovascular Systems by 1.1% in the 2nd quarter. BlackRock Inc. now owns 5,508,322 shares of the medical device company’s stock worth $236,471,000 after purchasing an additional 59,146 shares during the period. Vanguard Group Inc. grew its position in Cardiovascular Systems by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,194,713 shares of the medical device company’s stock worth $94,218,000 after purchasing an additional 49,401 shares during the period. Northern Trust Corp grew its position in Cardiovascular Systems by 1.8% in the 2nd quarter. Northern Trust Corp now owns 471,730 shares of the medical device company’s stock worth $20,252,000 after purchasing an additional 8,517 shares during the period. Nuveen Asset Management LLC bought a new stake in Cardiovascular Systems in the 2nd quarter worth approximately $13,345,000. Finally, GW&K Investment Management LLC grew its position in Cardiovascular Systems by 40.7% in the 3rd quarter. GW&K Investment Management LLC now owns 271,765 shares of the medical device company’s stock worth $12,914,000 after purchasing an additional 78,644 shares during the period. Institutional investors own 89.77% of the company’s stock.

Cardiovascular Systems Company Profile (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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