BlueMountain Capital Management LLC trimmed its position in shares of Cardiovascular Systems Inc (NASDAQ:CSII) by 22.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,459 shares of the medical device company’s stock after selling 9,790 shares during the period. BlueMountain Capital Management LLC owned 0.10% of Cardiovascular Systems worth $1,082,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of CSII. SG Americas Securities LLC acquired a new position in Cardiovascular Systems during the first quarter worth $126,000. Swiss National Bank increased its holdings in shares of Cardiovascular Systems by 5.5% in the first quarter. Swiss National Bank now owns 57,800 shares of the medical device company’s stock valued at $1,268,000 after purchasing an additional 3,000 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Cardiovascular Systems by 1.3% in the first quarter. Thrivent Financial for Lutherans now owns 155,138 shares of the medical device company’s stock valued at $3,402,000 after purchasing an additional 2,022 shares during the last quarter. First Mercantile Trust Co. increased its holdings in shares of Cardiovascular Systems by 95.2% in the first quarter. First Mercantile Trust Co. now owns 12,751 shares of the medical device company’s stock valued at $280,000 after purchasing an additional 6,218 shares during the last quarter. Finally, Alambic Investment Management L.P. increased its holdings in shares of Cardiovascular Systems by 39.3% in the first quarter. Alambic Investment Management L.P. now owns 23,652 shares of the medical device company’s stock valued at $519,000 after purchasing an additional 6,667 shares during the last quarter. Institutional investors and hedge funds own 84.56% of the company’s stock.
NASDAQ:CSII opened at $38.97 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.03 and a current ratio of 4.47. Cardiovascular Systems Inc has a one year low of $20.58 and a one year high of $39.50. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 778.80 and a beta of 2.45.
Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings results on Monday, July 30th. The medical device company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Cardiovascular Systems had a net margin of 0.79% and a return on equity of 1.36%. The business had revenue of $59.15 million for the quarter, compared to the consensus estimate of $58.43 million. analysts predict that Cardiovascular Systems Inc will post -0.07 earnings per share for the current fiscal year.
In related news, insider Sandra Sedo sold 862 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $37.52, for a total value of $32,342.24. Following the transaction, the insider now directly owns 22,634 shares in the company, valued at $849,227.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott R. Ward purchased 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was acquired at an average price of $38.39 per share, for a total transaction of $95,975.00. Following the completion of the purchase, the chief executive officer now directly owns 278,362 shares of the company’s stock, valued at approximately $10,686,317.18. The disclosure for this purchase can be found here. Insiders sold 3,177 shares of company stock worth $119,274 over the last 90 days. 3.30% of the stock is currently owned by corporate insiders.
Several research firms have commented on CSII. Lake Street Capital reiterated a “buy” rating and issued a $50.00 price objective on shares of Cardiovascular Systems in a report on Wednesday, August 1st. BidaskClub upgraded shares of Cardiovascular Systems from a “hold” rating to a “buy” rating in a report on Wednesday. ValuEngine upgraded shares of Cardiovascular Systems from a “hold” rating to a “buy” rating in a report on Friday, July 6th. Stifel Nicolaus began coverage on shares of Cardiovascular Systems in a report on Wednesday, August 22nd. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.20.
Cardiovascular Systems Company Profile
Cardiovascular Systems, Inc, a medical device company, develops, manufactures, and commercializes various devices to treat vascular and coronary diseases in the United States. The company offers peripheral arterial disease products, including Diamondback 360 Peripheral, Predator 360, Stealth 360 Peripheral Orbital Atherectomy System (OAS), Diamondback 360 60cm Peripheral OAS, Diamondback 360 Low Profile Peripheral, Diamondback 360 1.50 Peripheral, Diamondback 360 2.00 Peripheral, Diamondback 360 200cm Peripheral, and Diamondback 360 180cm Peripheral, which are catheter-based platforms for treating a range of plaque types in leg arteries above and below the knee, including calcified plaque, as well as address various limitations associated with surgical, catheter, and pharmacological treatment alternatives.
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