Cardiovascular Systems (CSII): Notes From Management Meetings - Leerink
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Leerink Partners analyst, Danielle Analffy, reiterated her Outperform rating on shares of Cardiovascular Systems (NASDAQ: CSII) after hosting investor meetings with the new CEO, Scott Ward, and IR, Jack Nielsen.
The meetings reinforced her view that the company has reached a fundamental inflection point after several quarters of underperformance in light of sales force disruptions and poor execution. Key takeaways include:
1) Salesforce productivity has been and continues to be on a dramatic upswing, likely driving more consistently strong quarterly performance going forward that can push shares higher
2) Atherectomy is still a high-growth market both in the periphery and in the coronary, with a number of tailwinds including DCB pull-through and an increasing focus on treating the sickest patients
3) CSII is focused on increasing awareness via clinical data, with management viewing lack of awareness as one of the key barriers to adoption
4) Reimbursement remains a positive, but CSII is focused on managing COGS downward in order to improve pricing flexibility.
No change to the price target of $30.
Shares of Cardiovascular Systems closed at $24.95 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oppenheimer Cuts Price Target on Workday (WDAY) Following 3Q; Reiterates Outperform
- Delta Air Lines (DAL) Names New Chief Communications Officer
- Shopify (SHOP): CFO Meetings Indicate Strong Growth Ahead - Wedbush
Create E-mail Alert Related CategoriesAnalyst Comments, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!