UBS Asset Management Americas Inc. reduced its position in Cardiovascular Systems Inc. (NASDAQ:CSII) by 38.3% during the second quarter, Holdings Channel reports. The firm owned 65,961 shares of the medical device company’s stock after selling 40,897 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.20% of Cardiovascular Systems worth $1,212,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Cutler Group LP boosted its stake in Cardiovascular Systems by 4.7% in the second quarter. Cutler Group LP now owns 7,787 shares of the medical device company’s stock worth $143,000 after buying an additional 350 shares during the period. Strs Ohio bought a new position in shares of Cardiovascular Systems during the second quarter worth about $194,000. Menta Capital LLC raised its position in shares of Cardiovascular Systems by 89.0% in the first quarter. Menta Capital LLC now owns 25,515 shares of the medical device company’s stock worth $265,000 after buying an additional 12,015 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Cardiovascular Systems during the second quarter worth about $393,000. Finally, California Public Employees Retirement System raised its position in shares of Cardiovascular Systems by 9.5% in the second quarter. California Public Employees Retirement System now owns 22,000 shares of the medical device company’s stock worth $404,000 after buying an additional 1,900 shares in the last quarter. 68.16% of the stock is currently owned by institutional investors and hedge funds.
Cardiovascular Systems Inc. (NASDAQ:CSII) traded down 0.45% during trading on Friday, hitting $24.13. 164,333 shares of the stock traded hands. Cardiovascular Systems Inc. has a 52 week low of $7.50 and a 52 week high of $25.35. The stock’s market cap is $804.61 million. The firm’s 50-day moving average is $24.12 and its 200 day moving average is $18.97.
Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings data 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. The company earned $48.50 million during the quarter, compared to analysts’ expectations of $46.01 million. Cardiovascular Systems had a negative return on equity of 38.39% and a negative net margin of 31.44%. The business’s revenue was up .0% on a year-over-year basis. During the same period last year, the business earned ($0.27) earnings per share. Equities research analysts forecast that Cardiovascular Systems Inc. will post ($0.62) earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on CSII shares. JMP Securities started coverage on shares of Cardiovascular Systems in a research report on Friday, October 7th. They issued an “outperform” rating and a $35.00 target price for the company. Zacks Investment Research upgraded shares of Cardiovascular Systems from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Tuesday, October 4th. Leerink Swann upgraded shares of Cardiovascular Systems from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research report on Monday, August 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price (up previously from $20.00) on shares of Cardiovascular Systems in a research report on Wednesday, June 29th. Finally, Bank of America Corp. upgraded shares of Cardiovascular Systems from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.40.
In other Cardiovascular Systems news, CFO Laurence L. Betterley sold 3,568 shares of Cardiovascular Systems stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $23.96, for a total transaction of $85,489.28. Following the completion of the transaction, the chief financial officer now directly owns 253,031 shares of the company’s stock, valued at $6,062,622.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Paul A. Koehn sold 4,000 shares of Cardiovascular Systems stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $22.17, for a total value of $88,680.00. Following the transaction, the senior vice president now directly owns 102,652 shares of the company’s stock, valued at $2,275,794.84. The disclosure for this sale can be found here. Company 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 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.
Want to see what other hedge funds are holding CSII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardiovascular Systems Inc. (NASDAQ:CSII).
Receive News & Ratings for Cardiovascular Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardiovascular Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.