Stifel Nicolaus Downgrades Cardiovascular Systems (NASDAQ:CSII) to Hold

Stifel Nicolaus downgraded shares of Cardiovascular Systems (NASDAQ:CSII) from a buy rating to a hold rating in a research report released on Tuesday morning, Benzinga reports. Stifel Nicolaus currently has $45.00 price objective on the medical device company’s stock, up from their prior price objective of $41.00. The analysts noted that the move was a valuation call.

Several other research firms also recently issued reports on CSII. Zacks Investment Research downgraded shares of Genprex from a hold rating to a sell rating in a report on Thursday, April 18th. BidaskClub downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, June 26th. Bank of America set a $7.00 price objective on shares of Deutsche Bank and gave the company a sell rating in a report on Thursday, April 11th. Finally, Needham & Company LLC increased their price objective on shares of Alteryx to $108.00 and gave the company a buy rating in a report on Thursday, May 2nd. Two equities 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 given a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $44.00.

CSII traded up $0.04 during midday trading on Tuesday, hitting $44.52. 22,320 shares of the company traded hands, compared to its average volume of 288,698. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.25 and a quick ratio of 3.78. The stock has a market cap of $1.55 billion, a P/E ratio of 890.40 and a beta of 1.81. Cardiovascular Systems has a 52-week low of $24.84 and a 52-week high of $46.52. The stock’s 50 day moving average price is $41.92.

Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings data on Wednesday, May 1st. The medical device company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. The business had revenue of $63.31 million for the quarter, compared to the consensus estimate of $62.80 million. Cardiovascular Systems had a net margin of 0.84% and a return on equity of 1.47%. Equities analysts expect that Cardiovascular Systems will post -0.01 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of CSII. Norges Bank acquired a new stake in shares of Cardiovascular Systems in the fourth quarter valued at about $14,258,000. BlackRock Inc. raised its position in shares of Cardiovascular Systems by 12.5% in the fourth quarter. BlackRock Inc. now owns 2,901,471 shares of the medical device company’s stock valued at $82,663,000 after buying an additional 322,994 shares during the last quarter. Federated Investors Inc. PA raised its position in shares of Cardiovascular Systems by 826.6% in the first quarter. Federated Investors Inc. PA now owns 293,558 shares of the medical device company’s stock valued at $11,349,000 after buying an additional 261,877 shares during the last quarter. Falcon Point Capital LLC raised its position in shares of Cardiovascular Systems by 651.0% in the first quarter. Falcon Point Capital LLC now owns 143,828 shares of the medical device company’s stock valued at $5,560,000 after buying an additional 124,676 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Cardiovascular Systems in the first quarter valued at about $3,866,000. Institutional investors and hedge funds own 91.94% of the company’s stock.

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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