Stock of The Day: Is Buying 52-Week Stock Like Cardiovascular Systems Inc a Winning Strategy?

Stock of The Day: Is Buying 52 Week Stock Like Cardiovascular Systems Inc a Winning Strategy?

The stock of Cardiovascular Systems Inc (NASDAQ:CSII) hit a new 52-week high and has $44.99 target or 68.00% above today’s $26.78 share price. The 9 months bullish chart indicates low risk for the $952.46 million company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $44.99 price target is reached, the company will be worth $647.67 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 146,663 shares traded hands. Cardiovascular Systems Inc (NASDAQ:CSII) has risen 94.13% since April 15, 2016 and is uptrending. It has outperformed by 89.51% 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. Leerink Swann upgraded the stock to “Outperform” rating in Monday, August 22 report. Bank of America downgraded Cardiovascular Systems Inc (NASDAQ:CSII) rating on Thursday, October 8. Bank of America has “Underperform” rating and $15 price target. As per Thursday, October 8, the company rating was downgraded by Leerink Swann. The firm has “Hold” rating given on Monday, August 10 by Zacks. The rating was upgraded by Bank of America to “Neutral” on Thursday, August 4. Zacks upgraded the shares of CSII in a report on Friday, August 21 to “Sell” rating. The rating was maintained by Dougherty & Company on Thursday, October 8 with “Buy”. Needham upgraded the shares of CSII in a report on Friday, April 1 to “Buy” rating. The stock of Cardiovascular Systems Inc (NASDAQ:CSII) earned “Buy” rating by Needham on Thursday, November 5. The company was downgraded on Thursday, September 3 by Zacks.

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 360° 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 360° 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 increased, 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.
State Board Of Administration Of Florida Retirement System has 26,314 shares for 0% of their US portfolio. Frontier Capital Management Limited Liability Company last reported 0.13% of its portfolio in the stock. Fmr Lc reported 620,000 shares or 0% of all its holdings. Blackrock has 3,259 shares for 0% of their US portfolio. Pura Vida Ltd Company has 145,289 shares for 1.13% of their US portfolio. Teachers last reported 0% of its portfolio in the stock. Blackrock Fund has 0% invested in the company for 1.03M shares. Fifth Third National Bank last reported 0% of its portfolio in the stock. Spot Trading Lc accumulated 17,056 shares or 0.01% of the stock. Jennison Associates Lc has 0% invested in the company for 24,795 shares. Driehaus Capital Mgmt Lc last reported 29,089 shares in the company. Moreover, California State Teachers Retirement System has 0% invested in Cardiovascular Systems Inc (NASDAQ:CSII) for 66,811 shares. Utd Automobile Association holds 0.01% or 116,600 shares in its portfolio. Secor Capital Advisors Ltd Partnership accumulated 27,006 shares or 0.06% of the stock. Vanguard Gp holds 0% or 1.28M shares in its portfolio.

More news for Cardiovascular Systems Inc (NASDAQ:CSII) were recently published by: Businesswire.com, which released: “Cardiovascular Systems, Inc. Signs Distribution Agreement with Medikit Co …” on November 14, 2016. Fool.com‘s article titled: “Why Cardiovascular Systems Inc’s Stock Flatlined Today” and published on January 23, 2016 is yet another important article.

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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