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Cardiovascular Systems Inc (NASDAQ:CSII) received “Upgrade” rating by Goldman in a research note issued to investors on Apr-01-16 from Neutral to Buy. Analysts presently have a $15.08 price target on the company’s stock, however according to data provided by Thomson/First Call the highest current target price estimate stands at $17.50 and the lowest target price estimate is $12.00.
Additionally on Jan-12-16 the company has received “Upgrade” rating by Wells Fargo from Market Perform to Outperform and on Jan-11-16 the stock was “Resumed” by Citigroup as Buy. Furthermore on Dec-17-15 the company has received “Initiated” rating by Sterne Agee CRT as Neutral.
Other research analysts have also recently issued recommendations about the company. The company has analysts’ mean recommendation of 2.00, where 1 refers ‘strong buy’ and 5 refers ‘strong sell’.
On the other hand the company has Relative Strength Index (RSI 14) of 69.89 along with Average True Range (ATR 14) of 1.04, where the relative strength index (RSI) is a technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine overbought and oversold conditions of an asset and The average true range (ATR) is a measure of volatility introduced by Welles Wilder. Consequently Cardiovascular Systems Inc (NASDAQ:CSII)’s weekly and monthly volatility is 1.52%, 1.56% respectively. The company’s beta value is at 0.92.
Cardiovascular Systems Inc (NASDAQ:CSII) on March 31, 2016 reported preliminary revenue for its fiscal third quarter ended March 31, 2016. For the quarter, the company anticipates revenue to range from $43.5 million to $44 million, approximately 4 percent to 5 percent above the high end of its previously issued guidance range of $40.5 million to $42 million. Additionally, CSI announced broad-based restructuring measures to reduce costs as a key part of its plan to balance revenue growth with a pathway to profitability and positive cash flow. The restructuring measures include a workforce reduction of approximately 8 percent.
As a result of the restructuring and previously announced departure of its CEO, CSI expects to take a one-time charge of approximately $4.5 million in its fiscal 2016 third quarter. Additionally, as disclosed on March 21, 2016, the company has reached an agreement in principle with the U.S. Department of Justice to settle claims underlying the government’s investigation. That agreement in principle is expected to result in a one-time charge of approximately $8 million in the fiscal 2016 third quarter.
All financial results are preliminary and subject to the company’s usual close procedures and review by its external auditors. Full third-quarter financial results are expected to be released on May 4.
Source: The Point Review
Broad Street Alerts has not been compensated for the mention of _CSII__ and we do not hold any positions.