Needham Reaffirms Their Buy Rating on Cardiovascular Systems

By Carrie Williams

Needham analyst Michael Matson reiterated a Buy rating on Cardiovascular Systems (NASDAQ: CSII) on October 9 and set a price target of $37. The company’s shares closed yesterday at $28.49.

According to, Matson is a 5-star analyst with an average return of 10.6% and a 61.6% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Zimmer Biomet Holdings, and Baxter International.

Cardiovascular Systems has an analyst consensus of Moderate Buy, with a price target consensus of $37.

Based on Cardiovascular Systems’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $52.92 million and quarterly net profit of $772K. In comparison, last year the company earned revenue of $49.8 million and had a GAAP net loss of $1.86 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. Last month, Brent Blackey, a Director at CSII bought 38,820 shares for a total of $306,678.

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Cardiovascular Systems, Inc. is a medical device company, which develops and sells devices for treating cardiovascular diseases. It focuses on developing and commercializing minimally invasive treatment solutions for vascular diseases.