Cardiovascular Systems initiated with a Buy at Lake Street

Lake Street analyst Brooks O’Neil initiated coverage of Cardiovascular Systems with a Buy rating and $25 price target. The company has recently faced challenges impacting growth in its core peripheral and coronary vascular markets that include COVID slowing procedure volume, new competition, and reimbursement cuts, noted O’Neil. However, he expects new products to begin to drive stronger growth in 2023 and is "particularly excited about the potential of new devices to remove blood clots from arteries in the legs, around the heart, and from those leading to the brain," O’Neil tells investors.