Cardiovascular Systems (NASDAQ:CSII) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Cardiovascular Systems (NASDAQ:CSII) from a strong sell rating to a hold rating in a report released on Monday morning, Zacks.com reports. Zacks Investment Research currently has $43.00 target price on the medical device company’s stock.

According to Zacks, “Cardiovascular Systems saw operating loss and margin contraction during the first-quarter fiscal 2020. Rising operating expenses continues to put bottom-line pressure. It also faces stiff competition. However, we are upbeat about the year-over-year uptick in both Coronary and peripheral device revenues within the company’s domestic market. The company is making efforts in product innovation through R&D investments. Treatment of the first patient in the Middle East with peripheral orbital atherectomy system was a vital highlight. The U.S. commercial launch of Viperwire Advance Coronary Guide Wire with Flex Tip instills optimism. The company exhibited a mixed performance with loss wider than estimates and revenues beating the consensus mark in first quarter. Over the past six months, the company outperformed the industry it belongs to.”

Other equities research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Cardiovascular Systems from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Guggenheim began coverage on shares of Cardiovascular Systems in a research report on Thursday, October 17th. They set a buy rating and a $58.00 target price for the company. Finally, BidaskClub raised shares of Cardiovascular Systems from a hold rating to a buy rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $49.60.

NASDAQ:CSII opened at $50.84 on Monday. Cardiovascular Systems has a 52 week low of $27.10 and a 52 week high of $52.54. The firm has a 50 day moving average of $46.82 and a 200 day moving average of $46.41. The company has a quick ratio of 3.04, a current ratio of 3.45 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -5,084.00 and a beta of 1.62.

Cardiovascular Systems (NASDAQ:CSII) last posted its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, missing the Zacks’ 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 firm had revenue of $64.49 million for the quarter, compared to analysts’ expectations of $64.03 million. As a group, analysts expect that Cardiovascular Systems will post -0.06 EPS for the current year.

A number of large investors have recently bought and sold shares of CSII. Diversified Trust Co raised its holdings in shares of Cardiovascular Systems by 47.6% in the fourth quarter. Diversified Trust Co now owns 11,331 shares of the medical device company’s stock worth $551,000 after buying an additional 3,656 shares during the last quarter. Partner Investment Management L.P. raised its holdings in shares of Cardiovascular Systems by 16.6% in the third quarter. Partner Investment Management L.P. now owns 5,915 shares of the medical device company’s stock worth $281,000 after buying an additional 843 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Cardiovascular Systems by 20.6% in the third quarter. Parametric Portfolio Associates LLC now owns 215,833 shares of the medical device company’s stock worth $10,256,000 after buying an additional 36,906 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Cardiovascular Systems by 1.2% in the third quarter. California State Teachers Retirement System now owns 53,219 shares of the medical device company’s stock worth $2,529,000 after buying an additional 636 shares during the last quarter. Finally, AJ Wealth Strategies LLC purchased a new position in shares of Cardiovascular Systems in the third quarter worth $292,000. 89.77% of the stock is 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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