Cardiovascular Systems (NASDAQ:CSII) Reaches New 1-Year Low at $13.40

Posted by on Jun 21st, 2022

Cardiovascular Systems, Inc. (NASDAQ:CSII – Get Rating) reached a new 52-week low on Tuesday . The stock traded as low as $13.40 and last traded at $13.45, with a volume of 2886 shares trading hands. The stock had previously closed at $13.74.

A number of equities analysts have recently commented on CSII shares. Bank of America started coverage on Cardiovascular Systems in a report on Wednesday, March 2nd. They issued an “underperform” rating for the company. StockNews.com started coverage on Cardiovascular Systems in a report on Thursday, March 31st. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $38.50.

The company has a debt-to-equity ratio of 0.08, a current ratio of 5.28 and a quick ratio of 4.58. The company has a 50-day moving average price of $17.10 and a 200 day moving average price of $18.74.

Cardiovascular Systems (NASDAQ:CSII – Get Rating) last announced its earnings results on Wednesday, May 4th. The medical device company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.03. Cardiovascular Systems had a negative return on equity of 12.43% and a negative net margin of 13.29%. The firm had revenue of $56.22 million for the quarter, compared to the consensus estimate of $57.38 million. During the same period in the previous year, the business earned ($0.15) EPS. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, research analysts anticipate that Cardiovascular Systems, Inc. will post -0.91 earnings per share for the current year.

In other Cardiovascular Systems news, CFO Jeffrey S. Points bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The shares were purchased at an average cost of $14.50 per share, for a total transaction of $43,500.00. Following the purchase, the chief financial officer now directly owns 109,312 shares in the company, valued at $1,585,024. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. purchased a new stake in Cardiovascular Systems during the 1st quarter valued at about $3,866,000. Invesco Ltd. boosted its stake in shares of Cardiovascular Systems by 60.3% in the third quarter. Invesco Ltd. now owns 657,596 shares of the medical device company’s stock worth $21,589,000 after buying an additional 247,303 shares during the last quarter. Morgan Stanley boosted its stake in shares of Cardiovascular Systems by 23.2% in the third quarter. Morgan Stanley now owns 180,246 shares of the medical device company’s stock worth $5,918,000 after buying an additional 33,999 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Cardiovascular Systems by 11.1% in the third quarter. Royal Bank of Canada now owns 77,187 shares of the medical device company’s stock worth $2,534,000 after buying an additional 7,734 shares during the last quarter. Finally, Man Group plc acquired a new position in Cardiovascular Systems in the 3rd quarter worth about $787,000. Hedge funds and other institutional investors own 91.24% of the company’s stock.

Cardiovascular Systems Company Profile (NASDAQ:CSII)

Cardiovascular Systems, Inc, a medical device 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, which are 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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