GSA Capital Partners LLP purchased a new stake in Cardiovascular Systems Inc. (NASDAQ:CSII) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,400 shares of the medical device company’s stock, valued at approximately $393,000. GSA Capital Partners LLP owned about 0.07% of Cardiovascular Systems at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP boosted its position 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 valued at $31,306,000 after buying an additional 652,962 shares in the last quarter. First Manhattan Co. boosted its position in shares of Cardiovascular Systems by 57.8% in the first quarter. First Manhattan Co. now owns 1,434,105 shares of the medical device company’s stock valued at $14,871,000 after buying an additional 525,346 shares in the last quarter. Bogle Investment Management L P DE acquired a new position in shares of Cardiovascular Systems during the first quarter valued at $2,796,000. Amici Capital LLC acquired a new position in shares of Cardiovascular Systems during the first quarter valued at $830,000. Finally, Iguana Healthcare Management LLC acquired a new position in shares of Cardiovascular Systems during the first quarter valued at $754,000. Institutional investors and hedge funds own 68.16% of the company’s stock.
Shares of Cardiovascular Systems Inc. (NASDAQ:CSII) traded down 1.42% during mid-day trading on Thursday, reaching $23.66. 468,051 shares of the company’s stock traded hands. The company’s 50 day moving average is $23.33 and its 200 day moving average is $17.39. Cardiovascular Systems Inc. has a 12-month low of $7.50 and a 12-month high of $25.22. The company’s market cap is $788.94 million.
Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings results on Wednesday, August 3rd. The medical device company reported ($0.15) earnings per share (EPS) for the quarter, beating 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 business had revenue of $48.50 million for the quarter, compared to analyst estimates of $46.01 million. During the same quarter in the prior year, the business posted ($0.27) EPS. Cardiovascular Systems’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts predict that Cardiovascular Systems Inc. will post ($0.62) EPS for the current fiscal year.
A number of research analysts recently weighed in on CSII shares. Bank of America Corp. upgraded shares of Cardiovascular Systems from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 4th. Leerink Swann upgraded shares of Cardiovascular Systems from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research note on Monday, August 22nd. Needham & Company LLC restated a “buy” rating and set a $23.00 target price (up previously from $20.00) on shares of Cardiovascular Systems in a research note on Wednesday, June 29th. Finally, Zacks Investment Research cut shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Cardiovascular Systems presently has a consensus rating of “Buy” and a consensus target price of $23.71.
In other news, major shareholder Camber Capital Management Llc sold 1,100,000 shares of the stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $23.26, for a total value of $25,586,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Paul A. Koehn sold 4,000 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $22.17, for a total transaction of $88,680.00. Following the completion of the sale, the senior vice president now owns 102,652 shares in the company, valued at approximately $2,275,794.84. The disclosure for this sale can be found here. Company 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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