Bank of America upgraded shares of Cardiovascular Systems (NASDAQ:CSII) from an underperform rating to a buy rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

A number of other analysts have also recently commented on CSII. BidaskClub upgraded shares of Cardiovascular Systems from a buy rating to a strong-buy rating in a research note on Friday, June 22nd. ValuEngine upgraded shares of Cardiovascular Systems from a sell rating to a hold rating in a research note on Wednesday, May 16th. Finally, Needham & Company LLC reiterated a hold rating on shares of Cardiovascular Systems in a research note on Thursday, May 3rd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $27.00.

CSII stock opened at $32.34 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.46 and a quick ratio of 3.99. Cardiovascular Systems has a 52 week low of $20.58 and a 52 week high of $34.51.

Cardiovascular Systems (NASDAQ:CSII) last released its earnings results on Wednesday, May 2nd. The medical device company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $55.59 million during the quarter, compared to analysts’ expectations of $55.63 million. Cardiovascular Systems had a negative net margin of 0.59% and a negative return on equity of 1.03%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Cardiovascular Systems during the 1st quarter valued at approximately $126,000. Teacher Retirement System of Texas acquired a new stake in Cardiovascular Systems during the 4th quarter valued at approximately $273,000. First Mercantile Trust Co. lifted its stake in Cardiovascular Systems by 95.2% during the 1st quarter. First Mercantile Trust Co. now owns 12,751 shares of the medical device company’s stock valued at $280,000 after acquiring an additional 6,218 shares during the period. US Bancorp DE lifted its stake in Cardiovascular Systems by 51.7% during the 4th quarter. US Bancorp DE now owns 13,208 shares of the medical device company’s stock valued at $313,000 after acquiring an additional 4,500 shares during the period. Finally, MetLife Investment Advisors LLC acquired a new stake in Cardiovascular Systems during the 4th quarter valued at approximately $354,000. Institutional investors and hedge funds own 81.08% of the company’s stock.

About Cardiovascular Systems

Cardiovascular Systems, Inc, a medical technology company, develops, manufactures, and markets devices to treat vascular diseases in the United States. The company offers peripheral arterial disease products, including Diamondback 360 Peripheral Orbital Atherectomy System (OAS), Diamondback 360 60cm Peripheral OAS, Diamondback 360 4 French 1.25 Peripheral OAS, Diamondback 360 1.50 Peripheral OAS, Diamondback 360 2.00 Peripheral OAS, and Stealth 360 Peripheral OAS, 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.

Analyst Recommendations for Cardiovascular Systems (NASDAQ:CSII)

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