Morgan Stanley reduced its position in shares of Cardiovascular Systems, Inc. (NASDAQ:CSII) by 5.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 123,448 shares of the medical device company’s stock after selling 7,398 shares during the period. Morgan Stanley owned approximately 0.38% of Cardiovascular Systems worth $3,491,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSII. Teachers Advisors LLC boosted its position in Cardiovascular Systems by 62.1% in the fourth quarter. Teachers Advisors LLC now owns 95,895 shares of the medical device company’s stock worth $2,322,000 after buying an additional 36,735 shares in the last quarter. Winslow Evans & Crocker Inc. purchased a new position in Cardiovascular Systems during the first quarter worth approximately $153,000. Nationwide Fund Advisors boosted its position in Cardiovascular Systems by 26.1% in the first quarter. Nationwide Fund Advisors now owns 42,815 shares of the medical device company’s stock worth $1,211,000 after buying an additional 8,854 shares in the last quarter. First Manhattan Co. boosted its position in Cardiovascular Systems by 8.0% in the first quarter. First Manhattan Co. now owns 764,200 shares of the medical device company’s stock worth $18,142,000 after buying an additional 56,700 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Cardiovascular Systems during the first quarter worth approximately $1,657,000. 74.82% of the stock is currently owned by institutional investors and hedge funds.

Cardiovascular Systems, Inc. (NASDAQ:CSII) traded down 1.03% during mid-day trading on Friday, reaching $29.86. 24,748 shares of the company’s stock traded hands. Cardiovascular Systems, Inc. has a one year low of $21.29 and a one year high of $33.11. The firm’s market cap is $977.35 million. The firm’s 50-day moving average price is $31.61 and its 200 day moving average price is $29.73.

Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.07. Cardiovascular Systems had a negative net margin of 0.87% and a positive return on equity of 0.89%. The company had revenue of $52.90 million for the quarter, compared to the consensus estimate of $51.98 million. During the same period in the previous year, the firm posted ($0.15) EPS. Cardiovascular Systems’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts forecast that Cardiovascular Systems, Inc. will post $0.01 EPS for the current year.

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CSII has been the topic of a number of research analyst reports. TheStreet raised Cardiovascular Systems from a “d” rating to a “c-” rating in a research note on Thursday, May 4th. BidaskClub raised Cardiovascular Systems from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Bank of America Corporation cut Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 21st. Needham & Company LLC reissued a “buy” rating and issued a $37.00 target price (up previously from $32.00) on shares of Cardiovascular Systems in a research note on Friday, July 14th. Finally, Zacks Investment Research cut Cardiovascular Systems from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Three research analysts have rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $33.83.

In other news, COO Kevin J. Kenny sold 4,733 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $30.74, for a total value of $145,492.42. Following the sale, the chief operating officer now directly owns 153,339 shares in the company, valued at approximately $4,713,640.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Alexander Rosenstein sold 979 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $30.71, for a total transaction of $30,065.09. Following the completion of the sale, the general counsel now owns 52,296 shares in the company, valued at $1,606,010.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,155 shares of company stock worth $312,135. Insiders own 3.60% of the company’s stock.

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.

Institutional Ownership by Quarter for Cardiovascular Systems (NASDAQ:CSII)

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