The stock of Cardiovascular Systems Inc (NASDAQ:CSII) hit a new 52-week high and has $32.80 target or 30.00% above today’s $25.23 share price. The 9 months bullish chart indicates low risk for the $873.33M company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $32.80 price target is reached, the company will be worth $262.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 544,773 shares traded hands or 88.72% up from the average. Cardiovascular Systems Inc (NASDAQ:CSII) has risen 92.35% since April 11, 2016 and is uptrending. It has outperformed by 86.21% the S&P500.
Cardiovascular Systems Inc (NASDAQ:CSII) Ratings Coverage
Out of 6 analysts covering Cardiovascular Systems (NASDAQ:CSII), 4 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. Cardiovascular Systems has been the topic of 15 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating by Zacks given on Thursday, September 3. The firm has “Sell” rating given on Friday, August 21 by Zacks. Dougherty & Company maintained the stock with “Buy” rating in Thursday, October 8 report. As per Wednesday, June 29, the company rating was maintained by Needham. The stock of Cardiovascular Systems Inc (NASDAQ:CSII) has “Underperform” rating given on Thursday, October 8 by Bank of America. The stock has “Hold” rating given by Zacks on Monday, August 10. The stock has “Buy” rating given by Needham on Thursday, November 5. Needham downgraded Cardiovascular Systems Inc (NASDAQ:CSII) on Friday, January 22 to “Underperform” rating. Needham downgraded the stock to “Buy” rating in Thursday, October 8 report. The stock of Cardiovascular Systems Inc (NASDAQ:CSII) has “Market Perform” rating given on Thursday, October 8 by Leerink Swann.
According to Zacks Investment Research, “Cardiovascular Systems, Inc., formerly known as Replidyne Inc., is headquartered in Saint Paul, Minnesota. It is a medical device company focusing on developing and commercializing interventional treatment systems for vascular disease. Its initial product, the Diamondback 360Â° Orbital Atherectomy System, is a minimally invasive catheter system for the treatment of peripheral arterial disease; and a range of plaque types, including calcified vessel lesions. The Diamondback 360Â° removes soft and calcified plaque in plaque-lined vessels through the orbital rotation of a diamond grit coated offset crown. The company refined its orbital technology to address the growing market need of providing a safer more effective atherectomy device.”
Insitutional Activity: The institutional sentiment increased to 1.32 in 2016 Q2. Its up 0.42, from 0.9 in 2016Q1. The ratio improved, as 7 funds sold all Cardiovascular Systems Inc shares owned while 30 reduced positions. 15 funds bought stakes while 34 increased positions. They now own 22.60 million shares or 20.49% more from 18.76 million shares in 2016Q1.
Ladenburg Thalmann Service Incorporated, a Florida-based fund reported 8,030 shares. Moreover, First Manhattan has 0.16% invested in Cardiovascular Systems Inc (NASDAQ:CSII) for 1.39M shares. Pnc Fincl Group holds 0% of its portfolio in Cardiovascular Systems Inc (NASDAQ:CSII) for 139 shares. Moreover, Alliancebernstein Lp has 0% invested in Cardiovascular Systems Inc (NASDAQ:CSII) for 50,420 shares. Teacher Retirement Sys Of Texas last reported 4,635 shares in the company. Moreover, Northern Corporation has 0% invested in Cardiovascular Systems Inc (NASDAQ:CSII) for 392,063 shares. North Run Limited Partnership reported 509,500 shares or 1.54% of all its holdings. State Street Corporation has invested 0% of its portfolio in Cardiovascular Systems Inc (NASDAQ:CSII). Meeder Asset has 0.05% invested in the company for 29,477 shares. Us Financial Bank De has invested 0% of its portfolio in Cardiovascular Systems Inc (NASDAQ:CSII). Kanaly Company has 1,000 shares for 0% of their US portfolio. Voya Invest Management Ltd Limited Liability Company owns 15,613 shares or 0% of their US portfolio. Gabelli Funds Limited Liability Com owns 43,000 shares or 0% of their US portfolio. The United Kingdom-based Legal & General Gru Public Ltd Com has invested 0% in Cardiovascular Systems Inc (NASDAQ:CSII). The New York-based Financial Bank Of New York Mellon Corporation has invested 0% in Cardiovascular Systems Inc (NASDAQ:CSII).
More important recent Cardiovascular Systems Inc (NASDAQ:CSII) news were published by: Fool.com which released: “Why Cardiovascular Systems Inc’s Stock Flatlined Today” on January 23, 2016, also Bizjournals.com published article titled: “Former Cardiovascular Systems CEO David Martin dies at 51”, Finance.Yahoo.com published: “Cardiovascular Systems, Inc. Reports Fiscal 2017 First-Quarter Financial Results” on October 26, 2016. More interesting news about Cardiovascular Systems Inc (NASDAQ:CSII) was released by: Prnewswire.com and their article: “Shareholder Class Action Filed Against Cardiovascular Systems, Inc. – CSII” with publication date: February 18, 2016.
CSII Company Profile
Cardiovascular Systems, Inc., incorporated on December 6, 2000, is a medical technology company. The Firm is engaged in treating patients suffering from peripheral and coronary artery diseases, including those with arterial calcium. The Firm develops an orbital atherectomy technology for both peripheral and coronary commercial applications. The Company’s peripheral artery disease (PAD) systems are catheter platforms capable of treating a range of plaque types in leg arteries both above and below the knee. The Company’s products include Diamondback 360 Peripheral Orbital Atherectomy System (OAS) (Diamondback 360 Peripheral), the Stealth 360 OAS (Stealth 360), Diamondback 360 Peripheral, Diamondback 360 60cm Peripheral, Diamondback 360 Low Profile Peripheral, Diamondback 360 1.50 Peripheral and Diamondback 360 2.00 Peripheral.
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