BofA/Merrill Lynch Downgrades Cardiovascular Systems (CSII) to Underperform
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October 8, 2015 7:37 AM EDT
Needham & Company downgraded Cardiovascular Systems (NASDAQ: CSII) from Strong Buy to Buy with a price target of $18.00 (from $37.00).
Analyst Mike Matson commented, "We are downgrading CSII to Buy from Strong Buy after last night's negative preannouncement. On one hand, we see... More
October 8, 2015 6:24 AM EDT
Leerink Partners downgraded Cardiovascular Systems (NASDAQ: CSII) from Outperform to Market Perform with a price target of $17.00 (from $45.00) after the company preannounced weaker-than-expected F1Q16 sales driven by another quarter of salesforce disruption.
Analyst Danielle Antalffy commented, "Clearly the salesforce transition... More
October 7, 2015 4:01 PM EDT
Cardiovascular Systems (NASDAQ: CSII) reported preliminary results for its fiscal 2016 first quarter ended September 30, 2015.
The company expects fiscal first-quarter revenues of approximately $43.9 million, an 11 percent increase from $39.5 million in the first quarter of fiscal 2015, excluding $1.9 million from the sale of Asahi guide wires in the prior year period. The fiscal 2016 first quarter net loss is anticipated to be in the range of $(13.1) million to $(13.9) million, or $(0.41) to $(0.43) per common share, compared to a net loss of $(8.2) million, or $(0.26) per common share, in the fiscal 2015 first quarter. CSIs fiscal 2016 first-quarter results are... More
