Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded Cardiovascular Systems from a hold rating to a strong sell rating and set a $47.00 price target on the stock. in a research note on Thursday, August 8th. Needham & Company LLC reissued a hold rating on shares of Cardiovascular Systems in a research note on Wednesday, August 7th. Stifel Nicolaus downgraded Cardiovascular Systems from a buy rating to a hold rating and lifted their price target for the company from $41.00 to $45.00 in a research note on Tuesday, July 16th. They noted that the move was a valuation call. Finally, Lake Street Capital lifted their price target on Cardiovascular Systems from $50.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Cardiovascular Systems currently has an average rating of Hold and an average price target of $48.50.
CSII opened at $49.85 on Friday. The business’s 50-day moving average price is $45.16 and its two-hundred day moving average price is $39.68. Cardiovascular Systems has a 1 year low of $24.84 and a 1 year high of $50.50. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -4,985.00 and a beta of 1.77. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.25 and a quick ratio of 3.83.
In related news, insider Sandra Sedo sold 882 shares of Cardiovascular Systems stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $47.06, for a total value of $41,506.92. Following the sale, the insider now owns 51,357 shares of the company’s stock, valued at $2,416,860.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Alexander Rosenstein sold 1,136 shares of Cardiovascular Systems stock in a transaction dated Thursday, August 15th. The shares were 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 directly owns 79,589 shares in the company, valued at approximately $3,743,866.56. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. MAI Capital Management purchased a new stake in Cardiovascular Systems in the 2nd quarter valued at about $615,000. Stonebridge Capital Advisors LLC purchased a new stake in Cardiovascular Systems in the 2nd quarter valued at about $26,000. Nuveen Asset Management LLC purchased a new stake in Cardiovascular Systems in the 2nd quarter valued at about $13,345,000. UBS Asset Management Americas Inc. increased its stake 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 valued at $989,000 after buying an additional 2,674 shares during the last quarter. Finally, First Light Asset Management LLC increased its stake 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 valued at $8,115,000 after buying an additional 921 shares during the last quarter. 94.33% of the stock is currently owned by institutional investors and hedge funds.
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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