logo munafa.us

NEWS Gainers Losers
 Learn then Earn

 story : Cardiovascular Systems stock drops after CMS proposes payment cuts, but Needham says buy on weakness #FinanceUSA #StockMarketNEWS Shares of Cardiovascular Systems Inc. , a medical device company focused

@stockMarketNEWS 20 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

Cardiovascular Systems stock drops after CMS proposes payment cuts, but Needham says buy on weakness #FinanceUSA #StockMarketNEWS
Shares of Cardiovascular Systems Inc. , a medical device company focused on treatments for vascular and coronary disease, tumbled 10.2% in afternoon trading, and has dropped 18.1% amid a four-day losing streak. Needham analyst Mike Matson noted that the Centers for Medicare & Medicaid Services' (CMS) proposed physician fee schedule for 2022 includes cuts of about 22% to office-based lab (OBL) payments for peripheral atherectomy. He expects medical societies to oppose to the fee schedule changes. "We do not expect this to have much, if any, impact on [Cardiovascular Systems] even if the cuts happen," Matson said, because he believes the proposed codes leave plenty of profit for the OBL, OBLs account for only about one-fifth of the company's overall sales and the company continued to see strong growth in its OBL business last year even though there were high single-digit cuts to OBL payments. "We are buyers on weakness," Matson said, as he reiterated his buy rating and stock price target. The stock has plunged 19.6% year to date, while the S&P 500 has advanced 15.7%.


Munafa USA Munafa India Munafa NSE


Report

Munafa ebook, learn stock market trading

0 Comments

Sorted by latest first Latest Oldest Best

 Learn then Earn
Back to top | Use Dark Theme