Cardiovascular Systems, Inc. (CSII) Stake Lifted by Quantbot Technologies LP
Quantbot Technologies LP grew its holdings in Cardiovascular Systems, Inc. (NASDAQ:CSII) by 85.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 9,845 shares of the medical device company’s stock after acquiring an additional 4,522 shares during the quarter. Quantbot Technologies LP’s holdings in Cardiovascular Systems were worth $317,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CSII. New York State Common Retirement Fund raised its position in shares of Cardiovascular Systems by 346.8% during the 2nd quarter. New York State Common Retirement Fund now owns 443,304 shares of the medical device company’s stock worth $14,288,000 after acquiring an additional 344,082 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in Cardiovascular Systems during the first quarter worth approximately $8,663,000. Marshall Wace North America L.P. purchased a new stake in Cardiovascular Systems during the first quarter worth approximately $8,663,000. Vanguard Group Inc. lifted its stake in Cardiovascular Systems by 22.7% during the first quarter. Vanguard Group Inc. now owns 1,656,356 shares of the medical device company’s stock worth $46,834,000 after purchasing an additional 305,953 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Cardiovascular Systems by 10.8% during the first quarter. Wellington Management Group LLP now owns 2,772,835 shares of the medical device company’s stock worth $78,403,000 after purchasing an additional 269,425 shares during the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.
In related news, CEO Scott R. Ward sold 5,529 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $30.41, for a total value of $168,136.89. Following the completion of the sale, the chief executive officer now directly owns 282,536 shares of the company’s stock, valued at $8,591,919.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Kevin J. Kenny sold 4,733 shares of the company’s stock in a transaction that occurred on 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 owns 153,339 shares in the company, valued at approximately $4,713,640.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,065 shares of company stock worth $1,514,031. Company insiders own 3.60% of the company’s stock.
A number of equities analysts recently issued reports on CSII shares. BidaskClub downgraded Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Citigroup Inc. began coverage on shares of Cardiovascular Systems in a report on Thursday, September 21st. They set a “market perform” rating on the stock. Raymond James Financial, Inc. began coverage on shares of Cardiovascular Systems in a research report on Friday, September 22nd. They set a “market perform” rating for the company. Bank of America Corporation downgraded shares of Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $37.00 target price (up previously from $32.00) on shares of Cardiovascular Systems in a report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $33.83.
Cardiovascular Systems, Inc. (NASDAQ:CSII) opened at 28.83 on Tuesday. The company’s 50-day moving average price is $29.29 and its 200-day moving average price is $30.22. The stock’s market cap is $951.13 million. Cardiovascular Systems, Inc. has a 1-year low of $21.29 and a 1-year high of $33.11.
Cardiovascular Systems (NASDAQ:CSII) last released its earnings results on Wednesday, August 2nd. The medical device company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. The company had revenue of $52.90 million during the quarter, compared to the consensus estimate of $51.98 million. Cardiovascular Systems had a negative net margin of 0.87% and a positive return on equity of 0.88%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.15) EPS. Analysts predict that Cardiovascular Systems, Inc. will post $0.01 EPS for the current 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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