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Cardiovascular Systems (CSII) Hits 52-Week High on Solid Q3
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Headquartered in St. Paul, MN, share price of Cardiovascular Systems, Inc. scaled a new 52-week high of $32.68 on Jun 9, eventually closing a bit lower at $30.93. The company has gained 20.3% over the past six months, ahead of the S&P 500’s 7.3% gain. The stock has a market cap of over $1 billion.
Comparison with Broader Industry
Over the last three months, the company’s share price has outperformed the Zacks categorized Medical - Products sub industry. The stock has rallied 14.9% over this period, outshining the sub-industry’s 6.1%.
Earnings Surprise
This Zacks Rank #3 (Hold) company posted a positive earnings surprise of 175% in the last quarter. The four-quarter average earnings beat is 104.17%.
The stock price rallied higher on better-than-expected results in third-quarter 2017. Revenues increased a solid 17% year over year on the back of the strong contribution from the company’s coronary and peripheral businesses.
Also, FDA’s recent premarket approval application (PMA) supplement for the company’s redesigned saline pump (used as part of the company’s Diamondback 360 Orbital Atherectomy Systems) has bolstered market confidence in the stock.
Further, Cardiovascular Systems received FDA approval for the Diamondback 360 Coronary OAS Micro Crown system to facilitate stent delivery in patients with coronary artery disease.
Of late, Japan’s Ministry of Health, Labor and Welfare (MHLW) approved the Diamondback 360 Coronary OAS Micro Crown as a frontline treatment for severe calcified lesions and to facilitate access to arteries for percutaneous coronary interventions (PCI).
All these factors played a pivotal role in driving the company’s share price to a 52-week high.
Align Technology has an expected long-term adjusted earnings growth of almost 24.1%. The stock added roughly 37.9% over the last three months.
Inogen has a long-term expected earnings growth rate of 17.5%. The stock has a solid one-year return of around 84.7%.
Accelerate Diagnostics has an expected long-term adjusted earnings growth of 30%. The stock added roughly 15.9% over the last three months.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
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Cardiovascular Systems (CSII) Hits 52-Week High on Solid Q3
Headquartered in St. Paul, MN, share price of Cardiovascular Systems, Inc. scaled a new 52-week high of $32.68 on Jun 9, eventually closing a bit lower at $30.93. The company has gained 20.3% over the past six months, ahead of the S&P 500’s 7.3% gain. The stock has a market cap of over $1 billion.
Comparison with Broader Industry
Over the last three months, the company’s share price has outperformed the Zacks categorized Medical - Products sub industry. The stock has rallied 14.9% over this period, outshining the sub-industry’s 6.1%.
Earnings Surprise
This Zacks Rank #3 (Hold) company posted a positive earnings surprise of 175% in the last quarter. The four-quarter average earnings beat is 104.17%.
Cardiovascular Systems, Inc. Price and Consensus
Cardiovascular Systems, Inc. Price and Consensus | Cardiovascular Systems, Inc. Quote
Catalysts
The stock price rallied higher on better-than-expected results in third-quarter 2017. Revenues increased a solid 17% year over year on the back of the strong contribution from the company’s coronary and peripheral businesses.
Also, FDA’s recent premarket approval application (PMA) supplement for the company’s redesigned saline pump (used as part of the company’s Diamondback 360 Orbital Atherectomy Systems) has bolstered market confidence in the stock.
Further, Cardiovascular Systems received FDA approval for the Diamondback 360 Coronary OAS Micro Crown system to facilitate stent delivery in patients with coronary artery disease.
Of late, Japan’s Ministry of Health, Labor and Welfare (MHLW) approved the Diamondback 360 Coronary OAS Micro Crown as a frontline treatment for severe calcified lesions and to facilitate access to arteries for percutaneous coronary interventions (PCI).
All these factors played a pivotal role in driving the company’s share price to a 52-week high.
Key Picks
A few better-ranked medical stocks are Align Technology, Inc. (ALGN - Free Report) , Inogen, Inc. (INGN - Free Report) and Accelerate Diagnostics, Inc. (AXDX - Free Report) . Notably, Align Technologyand Inogen sport a Zacks Rank #1 (Strong Buy), while Accelerate Diagnostics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Align Technology has an expected long-term adjusted earnings growth of almost 24.1%. The stock added roughly 37.9% over the last three months.
Inogen has a long-term expected earnings growth rate of 17.5%. The stock has a solid one-year return of around 84.7%.
Accelerate Diagnostics has an expected long-term adjusted earnings growth of 30%. The stock added roughly 15.9% over the last three months.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>