Fox Run Management L.L.C. bought 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 institutional investor bought 9,900 shares of the medical device company’s stock, valued at approximately $319,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of CSII. Quantbot Technologies LP raised its position in shares of Cardiovascular Systems by 142.3% in the first quarter. Quantbot Technologies LP now owns 5,323 shares of the medical device company’s stock valued at $150,000 after buying an additional 3,126 shares in the last quarter. Winslow Evans & Crocker Inc. acquired a new position in Cardiovascular Systems during the first quarter worth $153,000. Old Mutual Global Investors UK Ltd. acquired a new position in Cardiovascular Systems during the first quarter worth $163,000. Clinton Group Inc. acquired a new position in Cardiovascular Systems during the first quarter worth $212,000. Finally, Koch Industries Inc. acquired a new position in Cardiovascular Systems during the first quarter worth $229,000. 75.83% of the stock is currently owned by institutional investors and hedge funds.
Cardiovascular Systems, Inc. (NASDAQ:CSII) opened at 32.68 on Thursday. Cardiovascular Systems, Inc. has a 52-week low of $18.67 and a 52-week high of $33.11. The company’s 50 day moving average is $31.54 and its 200-day moving average is $28.85. The company’s market capitalization is $1.07 billion.
Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings results on Wednesday, May 3rd. The medical device company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The company had revenue of $52.10 million for the quarter, compared to analysts’ expectations of $51.13 million. Cardiovascular Systems had a negative net margin of 3.72% and a negative return on equity of 4.36%. Cardiovascular Systems’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.31) EPS. Equities analysts anticipate that Cardiovascular Systems, Inc. will post ($0.13) EPS for the current fiscal year.
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A number of research firms have weighed in on CSII. BidaskClub raised shares of Cardiovascular Systems from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Bank of America Corporation lowered shares of Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $37.00 price objective (up from $32.00) on shares of Cardiovascular Systems in a research note on Friday, July 14th. Finally, TheStreet raised shares of Cardiovascular Systems from a “d” rating to a “c-” rating in a research note on Thursday, May 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $33.83.
About Cardiovascular Systems
Cardiovascular Systems, Inc is a medical technology company. The Company is engaged in treating patients suffering from peripheral and coronary artery diseases, including those with arterial calcium. The Company develops an orbital atherectomy technology for both peripheral and coronary commercial applications.
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