First Mercantile Trust Co. cut its position in shares of Cardiovascular Systems Inc. (NASDAQ:CSII) by 4.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,499 shares of the medical device company’s stock after selling 682 shares during the period. First Mercantile Trust Co.’s holdings in Cardiovascular Systems were worth $248,000 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 stock. Wellington Management Group LLP raised its stake in shares of Cardiovascular Systems by 27.6% in the first quarter. Wellington Management Group LLP now owns 3,018,859 shares of the medical device company’s stock worth $31,306,000 after buying an additional 652,962 shares in the last quarter. Bogle Investment Management L P DE bought a new stake in shares of Cardiovascular Systems during the first quarter worth $2,796,000. Vanguard Group Inc. raised its stake in shares of Cardiovascular Systems by 13.8% in the second quarter. Vanguard Group Inc. now owns 1,276,110 shares of the medical device company’s stock worth $23,449,000 after buying an additional 155,207 shares in the last quarter. Amici Capital LLC bought a new stake in shares of Cardiovascular Systems during the first quarter worth $830,000. Finally, Iguana Healthcare Management LLC bought a new stake in shares of Cardiovascular Systems during the first quarter worth $754,000. Institutional investors own 68.16% of the company’s stock.
Cardiovascular Systems Inc. (NASDAQ:CSII) opened at 23.74 on Monday. The firm’s market cap is $791.61 million. Cardiovascular Systems Inc. has a one year low of $7.50 and a one year high of $25.22. The stock has a 50 day moving average of $23.74 and a 200 day moving average of $18.00.
Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings results on Wednesday, August 3rd. The medical device company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.05. Cardiovascular Systems had a negative net margin of 31.44% and a negative return on equity of 38.39%. The company earned $48.50 million during the quarter, compared to the consensus estimate of $46.01 million. During the same quarter in the prior year, the firm posted ($0.27) EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. Equities research analysts predict that Cardiovascular Systems Inc. will post ($0.62) EPS for the current fiscal year.
CSII has been the subject of a number of research reports. Zacks Investment Research raised shares of Cardiovascular Systems from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Monday, July 4th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target (up previously from $20.00) on shares of Cardiovascular Systems in a report on Wednesday, June 29th. Bank of America Corp. raised shares of Cardiovascular Systems from an “underperform” rating to a “neutral” rating in a report on Thursday, August 4th. Finally, Leerink Swann raised shares of Cardiovascular Systems from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Monday, August 22nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $23.71.
In related news, SVP Paul A. Koehn sold 5,969 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $25.02, for a total value of $149,344.38. Following the completion of the transaction, the senior vice president now owns 73,321 shares of the company’s stock, valued at approximately $1,834,491.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Camber Capital Management Llc sold 1,100,000 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $23.26, for a total transaction of $25,586,000.00. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.
Cardiovascular Systems Company Profile
Cardiovascular Systems, Inc is a medical technology company. The Company is engaged in treating patients suffering from peripheral and coronary arterial diseases. It has developed an orbital atherectomy technology for peripheral and coronary commercial applications. Its peripheral arterial disease systems are catheter-based platforms that treat plaque types in leg arteries both above and below the knee.
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