Camber Capital Management Llc Sells 1,100,000 Shares of Cardiovascular Systems Inc. (CSII) Stock
Cardiovascular Systems Inc. (NASDAQ:CSII) major shareholder Camber Capital Management Llc sold 1,100,000 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $23.26, for a total transaction of $25,586,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Cardiovascular Systems Inc. (NASDAQ:CSII) opened at 24.00 on Thursday. The stock’s market capitalization is $800.28 million. Cardiovascular Systems Inc. has a 52 week low of $7.50 and a 52 week high of $25.22. The firm has a 50-day moving average of $23.33 and a 200 day moving average of $17.39.
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, topping analysts’ consensus estimates of ($0.20) by $0.05. Cardiovascular Systems had a negative return on equity of 38.39% and a negative net margin of 31.44%. The firm had revenue of $48.50 million for the quarter, compared to analyst estimates of $46.01 million. During the same period last year, the company earned ($0.27) EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. On average, analysts anticipate that Cardiovascular Systems Inc. will post ($0.62) EPS for the current year.
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A number of hedge funds have recently modified their holdings of CSII. BlackRock Group LTD raised its stake in shares of Cardiovascular Systems by 48.2% in the first quarter. BlackRock Group LTD now owns 11,854 shares of the medical device company’s stock worth $123,000 after buying an additional 3,854 shares during the last quarter. Cutler Group LP raised its stake in shares of 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. Strs Ohio acquired a new stake in shares of Cardiovascular Systems during the second quarter worth about $194,000. Menta Capital LLC raised its stake 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 during the last quarter. Finally, Weiss Multi Strategy Advisers LLC raised its stake in shares of Cardiovascular Systems by 45.8% in the second quarter. Weiss Multi Strategy Advisers LLC now owns 14,580 shares of the medical device company’s stock worth $268,000 after buying an additional 4,580 shares during the last quarter. 68.16% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports 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 from $20.00) on shares of Cardiovascular Systems in a research note on Wednesday, June 29th. Finally, Zacks Investment Research lowered shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $23.71.
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.
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