Cardiovascular Systems Inc. (CSII) Sees Large Volume Increase
Shares of Cardiovascular Systems Inc. (NASDAQ:CSII) saw unusually-high trading volume on Tuesday . Approximately 774,811 shares traded hands during mid-day trading, an increase of 99% from the previous session’s volume of 389,039 shares.The stock last traded at $23.72 and had previously closed at $23.39.
CSII has been the subject of a number of recent analyst reports. Leerink Swann raised Cardiovascular Systems from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Monday, August 22nd. Zacks Investment Research raised Cardiovascular Systems from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Monday, July 4th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price (up from $20.00) on shares of Cardiovascular Systems in a research report on Wednesday, June 29th. Finally, Bank of America Corp. upgraded Cardiovascular Systems from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 4th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Cardiovascular Systems has a consensus rating of “Buy” and an average target price of $23.71.
The company’s market cap is $795.28 million. The stock’s 50 day moving average price is $23.08 and its 200 day moving average price is $17.24.
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Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings data on Wednesday, August 3rd. The medical device company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. The business earned $48.50 million during the quarter, compared to analyst estimates of $46.01 million. Cardiovascular Systems had a negative return on equity of 38.39% and a negative net margin of 31.44%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted ($0.27) EPS. Analysts predict that Cardiovascular Systems Inc. will post ($0.62) EPS for the current year.
In other Cardiovascular Systems news, SVP Paul A. Koehn sold 5,969 shares of Cardiovascular Systems stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $25.02, for a total transaction of $149,344.38. Following the completion of the transaction, the senior vice president now owns 73,321 shares in the company, valued at approximately $1,834,491.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul A. Koehn sold 4,000 shares of Cardiovascular Systems stock in a transaction dated 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 owns 102,652 shares of the company’s stock, 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.
Institutional investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL raised its position in Cardiovascular Systems by 0.3% in the second quarter. Gamco Investors INC. ET AL now owns 36,400 shares of the medical device company’s stock worth $669,000 after buying an additional 100 shares during the last quarter. Cutler Group LP raised its position 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 last quarter. BlackRock Advisors LLC raised its position in Cardiovascular Systems by 3.3% in the second quarter. BlackRock Advisors LLC now owns 15,089 shares of the medical device company’s stock worth $277,000 after buying an additional 486 shares during the last quarter. California Public Employees Retirement System boosted its stake in 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 during the period. Finally, Rhumbline Advisers boosted its stake in Cardiovascular Systems by 10.1% in the second quarter. Rhumbline Advisers now owns 34,788 shares of the medical device company’s stock worth $639,000 after buying an additional 3,185 shares during the period. Institutional investors and hedge funds own 68.16% 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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