The Manufacturers Life Insurance Company lifted its position in Cardiovascular Systems, Inc. (NASDAQ:CSII) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,114 shares of the medical device company’s stock after acquiring an additional 299 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Cardiovascular Systems worth $809,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlueCrest Capital Management Ltd bought a new stake in shares of Cardiovascular Systems in the 2nd quarter worth $204,000. State Street Corp grew its stake in shares of Cardiovascular Systems by 0.9% in the 2nd quarter. State Street Corp now owns 677,462 shares of the medical device company’s stock worth $21,828,000 after acquiring an additional 6,074 shares in the last quarter. Gotham Asset Management LLC grew its stake in shares of Cardiovascular Systems by 67.4% in the 2nd quarter. Gotham Asset Management LLC now owns 14,171 shares of the medical device company’s stock worth $457,000 after acquiring an additional 5,706 shares in the last quarter. Fred Alger Management Inc. bought a new stake in shares of Cardiovascular Systems in the 2nd quarter worth $7,327,000. Finally, Balyasny Asset Management LLC bought a new stake in shares of Cardiovascular Systems in the 2nd quarter worth $426,000. Hedge funds and other institutional investors own 72.09% of the company’s stock.
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Several research firms have recently issued reports on CSII. BidaskClub lowered shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised shares of Cardiovascular Systems from a “sell” rating to a “hold” rating in a report on Monday. Raymond James Financial, Inc. began coverage on shares of Cardiovascular Systems in a report on Friday, September 22nd. They issued a “market perform” rating on the stock. Needham & Company LLC reissued a “buy” rating and issued a $36.00 price target (down from $37.00) on shares of Cardiovascular Systems in a report on Thursday, October 26th. Finally, Citigroup Inc. began coverage on shares of Cardiovascular Systems in a report on Thursday, September 21st. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Cardiovascular Systems presently has a consensus rating of “Hold” and a consensus target price of $38.00.
In other Cardiovascular Systems news, Director Edward M. Brown sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $29.16, for a total transaction of $583,200.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward M. Brown sold 13,031 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $29.09, for a total transaction of $379,071.79. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by insiders.
Cardiovascular Systems, Inc. (NASDAQ CSII) opened at $23.74 on Friday. The company has a quick ratio of 3.83, a current ratio of 4.30 and a debt-to-equity ratio of 0.18. The firm has a market cap of $799.47, a PE ratio of 1,171.50 and a beta of 2.53. Cardiovascular Systems, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $33.11.
Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings results on Wednesday, October 25th. The medical device company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.02. The company had revenue of $49.70 million for the quarter, compared to the consensus estimate of $51.00 million. Cardiovascular Systems had a negative net margin of 0.93% and a positive return on equity of 0.74%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) EPS. analysts predict that Cardiovascular Systems, Inc. will post -0.05 earnings per share for the current fiscal year.
About Cardiovascular Systems
Cardiovascular Systems, Inc is a medical technology company. The Company is engaged in treating patients suffering from peripheral and coronary artery diseases, including those with arterial calcium. The Company develops an orbital atherectomy technology for both peripheral and coronary commercial applications.
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