How Analysts Feel About Cardiovascular Systems, Inc. (CSII) After Forming Bearish Multiple Bottom Chart Pattern?

January 21, 2018 - By Winifred Garcia

Investors sentiment decreased to 0.79 in Q3 2017. Its down 0.18, from 0.97 in 2017Q2. It fall, as 16 investors sold Cardiovascular Systems, Inc. shares while 50 reduced holdings. 10 funds opened positions while 42 raised stakes. 24.82 million shares or 3.05% more from 24.09 million shares in 2017Q2 were reported.
Strs Ohio invested in 0% or 26,900 shares. Gilder Gagnon Howe & Limited Liability Corporation invested in 0% or 11,738 shares. Weiss Multi has invested 0.03% in Cardiovascular Systems, Inc. (NASDAQ:CSII). Morgan Stanley stated it has 0% in Cardiovascular Systems, Inc. (NASDAQ:CSII). Manufacturers Life Com The invested 0% of its portfolio in Cardiovascular Systems, Inc. (NASDAQ:CSII). Partner Fund Mngmt Lp has 445,891 shares. Prelude Management Lc holds 8,670 shares or 0.02% of its portfolio. Wells Fargo & Mn holds 0% or 47,253 shares in its portfolio. Menta Capital Limited has invested 0.36% in Cardiovascular Systems, Inc. (NASDAQ:CSII). D E Shaw & owns 862,258 shares. Glenmede Trust Na invested 0% of its portfolio in Cardiovascular Systems, Inc. (NASDAQ:CSII). Howe Rusling reported 215 shares. Prudential Financial holds 0% or 7,904 shares in its portfolio. Jpmorgan Chase And accumulated 0% or 1,478 shares. Geode Cap Mgmt Ltd Llc has 286,110 shares.

The stock of Cardiovascular Systems, Inc. (CSII) shows a multiple bottoms pattern with $23.64 target or 9.00 % below today’s $25.98 share price. The 7 months chart pattern indicates high risk for the $886.48 million company. It was reported on Jan, 21 by Finviz.com. If the $23.64 price target is reached, the company will be worth $79.78 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 3.30% or $0.83 during the last trading session, reaching $25.98. About 225,191 shares traded. Cardiovascular Systems, Inc. (NASDAQ:CSII) has risen 113.78% since January 21, 2017 and is uptrending. It has outperformed by 97.08% the S&P500.

Analysts await Cardiovascular Systems, Inc. (NASDAQ:CSII) to report earnings on January, 24. They expect $-0.04 EPS, down 233.33 % or $0.07 from last year’s $0.03 per share. After $-0.06 actual EPS reported by Cardiovascular Systems, Inc. for the previous quarter, Wall Street now forecasts -33.33 % EPS growth.

Cardiovascular Systems, Inc. (NASDAQ:CSII) Ratings Coverage

Among 9 analysts covering Cardiovascular Systems (NASDAQ:CSII), 4 have Buy rating, 2 Sell and 3 Hold. Therefore 44% are positive. Cardiovascular Systems has $40 highest and $15 lowest target. $28.80’s average target is 10.85% above currents $25.98 stock price. Cardiovascular Systems had 24 analyst reports since August 6, 2015 according to SRatingsIntel. Needham maintained the stock with “Buy” rating in Thursday, January 26 report. The firm earned “Sell” rating on Thursday, September 3 by Zacks. The stock of Cardiovascular Systems, Inc. (NASDAQ:CSII) has “Buy” rating given on Friday, July 14 by Needham. William Blair initiated Cardiovascular Systems, Inc. (NASDAQ:CSII) on Thursday, December 21 with “Hold” rating. Leerink Swann downgraded the stock to “Market Perform” rating in Thursday, October 8 report. Needham maintained it with “Buy” rating and $19 target in Thursday, November 5 report. Bank of America downgraded the shares of CSII in report on Wednesday, June 21 to “Underperform” rating. The stock of Cardiovascular Systems, Inc. (NASDAQ:CSII) earned “Hold” rating by Raymond James on Thursday, September 21. Needham maintained Cardiovascular Systems, Inc. (NASDAQ:CSII) rating on Thursday, August 6. Needham has “Strong Buy” rating and $37 target. Leerink Swann upgraded the shares of CSII in report on Monday, August 22 to “Outperform” rating.

More news for Cardiovascular Systems, Inc. (NASDAQ:CSII) were recently published by: Businesswire.com, which released: “Cardiovascular Systems Expands Product Portfolio to Further Support Peripheral …” on January 18, 2018. Nasdaq.com‘s article titled: “Positive Market Trends Aid Cardiovascular Systems Amid Woes” and published on January 18, 2018 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.