Cardiovascular Systems, Inc. (NASDAQ:CSII – Get Rating)'s share price dropped 5.7% during mid-day trading on Friday . The stock traded as low as $13.28 and last traded at $13.29. Approximately 1,185 shares were traded during trading, a decline of 100% from the average daily volume of 283,807 shares. The stock had previously closed at $14.10.
Wall Street Analysts Forecast Growth
CSII has been the topic of several research reports. StockNews.com initiated coverage on shares of Cardiovascular Systems in a research report on Wednesday, October 12th. They set a "hold" rating on the stock. Lake Street Capital initiated coverage on shares of Cardiovascular Systems in a research report on Wednesday, December 14th. They set a "buy" rating and a $25.00 price objective on the stock. Finally, Barclays assumed coverage on shares of Cardiovascular Systems in a report on Wednesday. They issued an "equal weight" rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $20.00.
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Cardiovascular Systems Trading Up 0.2 %
The firm has a market cap of $557.84 million, a PE ratio of -13.32 and a beta of 0.86. The company's fifty day moving average price is $14.08 and its two-hundred day moving average price is $14.40. The company has a quick ratio of 5.20, a current ratio of 6.22 and a debt-to-equity ratio of 0.08.
Cardiovascular Systems (NASDAQ:CSII – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The medical device company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.03). The company had revenue of $59.67 million for the quarter, compared to analysts' expectations of $59.33 million. Cardiovascular Systems had a negative return on equity of 15.51% and a negative net
margin of 16.40%. As a group, sell-side analysts forecast that Cardiovascular Systems, Inc. will post -0.67 earnings per share for the current fiscal year.
Institutional Trading of Cardiovascular Systems
A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in Cardiovascular Systems by 0.4% during the third quarter. Bank of New York Mellon Corp now owns 360,772 shares of the medical device company's stock worth $4,999,000 after buying an additional 1,595 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in Cardiovascular Systems during the third quarter worth about $150,000. M&T Bank Corp boosted its holdings in Cardiovascular Systems by 16.7% during the third quarter. M&T Bank Corp now owns 46,606 shares of the medical device company's stock worth $647,000 after buying an additional 6,673 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in Cardiovascular Systems by 6.5% during the third quarter. Neuberger Berman Group LLC now owns 859,542 shares of the medical device company's stock worth $11,920,000 after buying an additional 52,815 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Cardiovascular Systems by 9.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 171,062 shares of the medical device company's stock worth $2,371,000 after acquiring an additional 15,261 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company's stock.
About Cardiovascular Systems
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Cardiovascular Systems, Inc, a medical technology company, develops and commercializes solutions to treat peripheral and coronary artery diseases in the United States and internationally. The company offers peripheral artery disease products comprising catheter-based platforms to treat various plaque types in above and below the knee, including calcified plaque, as well as address various limitations related with surgical, catheter, and pharmacological treatment alternatives; and peripheral support products.
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