Cardiovascular Systems (CSII) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Cardiovascular Systems (NASDAQ:CSII) in a research report released on Wednesday.

“CSII’s F1Q19 revenue beat while EPS missed consensus and management maintained FY19 revenue guidance. While CSII should continue to benefit from the Japanese launch, an exclusive international distribution agreement (OrbusNeich), new support products, and building rep productivity, we believe there is execution risk in CSII’s long-term transformation (see our analyst meeting note here). Given these points, increasingly difficult comps in FY19, and our belief that CSII shares are fairly valued, we maintain our Hold rating.”,” Needham & Company LLC’s analyst commented.

A number of other analysts have also recently weighed in on CSII. ValuEngine raised shares of Cardiovascular Systems from a hold rating to a buy rating in a report on Friday, July 6th. BidaskClub raised shares of Cardiovascular Systems from a buy rating to a strong-buy rating in a report on Wednesday, July 11th. Lake Street Capital reissued a buy rating and set a $50.00 target price on shares of Cardiovascular Systems in a report on Wednesday, August 1st. Zacks Investment Research cut shares of Cardiovascular Systems from a buy rating to a hold rating in a report on Friday, August 3rd. Finally, Stifel Nicolaus initiated coverage on shares of Cardiovascular Systems in a report on Wednesday, August 22nd. They set a buy rating and a $45.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Cardiovascular Systems has a consensus rating of Hold and an average target price of $35.20.

NASDAQ CSII opened at $30.67 on Wednesday. Cardiovascular Systems has a 12 month low of $20.58 and a 12 month high of $40.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.03 and a current ratio of 4.47. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 1,533.50 and a beta of 2.36.

Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings data on Tuesday, October 30th. The medical device company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). Cardiovascular Systems had a net margin of 0.36% and a return on equity of 0.62%. The company had revenue of $56.27 million for the quarter, compared to the consensus estimate of $55.96 million. On average, research analysts expect that Cardiovascular Systems will post -0.09 EPS for the current fiscal year.

In other news, CEO Scott R. Ward acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were acquired at an average price of $38.39 per share, with a total value of $95,975.00. Following the acquisition, the chief executive officer now directly owns 278,362 shares in the company, valued at $10,686,317.18. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Alexander Rosenstein sold 1,344 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $37.56, for a total transaction of $50,480.64. Following the completion of the sale, the general counsel now directly owns 49,469 shares in the company, valued at approximately $1,858,055.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,177 shares of company stock worth $119,274. Corporate insiders own 2.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CSII. Harvest Fund Management Co. Ltd acquired a new position in Cardiovascular Systems during the 3rd quarter valued at about $108,000. Acadian Asset Management LLC acquired a new position in Cardiovascular Systems during the 2nd quarter valued at about $114,000. Versant Capital Management Inc acquired a new position in Cardiovascular Systems during the 3rd quarter valued at about $147,000. Dorsey & Whitney Trust CO LLC acquired a new position in Cardiovascular Systems during the 3rd quarter valued at about $210,000. Finally, Teacher Retirement System of Texas acquired a new position in Cardiovascular Systems during the 2nd quarter valued at about $218,000. 79.35% of the stock is currently owned by institutional investors and hedge funds.

Cardiovascular Systems Company Profile

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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Analyst Recommendations for Cardiovascular Systems (NASDAQ:CSII)

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