Fox Run Management L.L.C. acquired a new position in shares of Cardiovascular Systems, Inc. (NASDAQ:CSII) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 9,900 shares of the medical device company’s stock, valued at approximately $319,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. State of New Jersey Common Pension Fund D acquired a new position in shares of Cardiovascular Systems during the first quarter worth about $424,000. First Quadrant L P CA acquired a new position in shares of Cardiovascular Systems during the first quarter worth about $1,730,000. Acadian Asset Management LLC acquired a new position in shares of Cardiovascular Systems during the first quarter worth about $1,657,000. First Manhattan Co. increased its position in shares of Cardiovascular Systems by 8.0% in the first quarter. First Manhattan Co. now owns 764,200 shares of the medical device company’s stock worth $18,142,000 after buying an additional 56,700 shares during the period. Finally, Nationwide Fund Advisors increased its position in shares of Cardiovascular Systems by 26.1% in the first quarter. Nationwide Fund Advisors now owns 42,815 shares of the medical device company’s stock worth $1,211,000 after buying an additional 8,854 shares during the period. Hedge funds and other institutional investors own 75.15% of the company’s stock.
Cardiovascular Systems, Inc. (CSII) opened at 30.55 on Monday. The stock’s 50 day moving average price is $31.84 and its 200-day moving average price is $29.37. Cardiovascular Systems, Inc. has a 12 month low of $19.37 and a 12 month high of $33.11. The stock’s market cap is $999.93 million.
Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings data on Wednesday, August 2nd. The medical device company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. Cardiovascular Systems had a positive return on equity of 0.89% and a negative net margin of 0.87%. The company had revenue of $52.90 million during the quarter, compared to analyst estimates of $51.98 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. Cardiovascular Systems’s revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that Cardiovascular Systems, Inc. will post $0.06 EPS for the current fiscal year.
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A number of brokerages have issued reports on CSII. BidaskClub upgraded Cardiovascular Systems from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Bank of America Corporation downgraded Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 21st. Needham & Company LLC restated a “buy” rating and issued a $37.00 price objective (up previously from $32.00) on shares of Cardiovascular Systems in a research note on Friday, July 14th. Zacks Investment Research downgraded Cardiovascular Systems from a “hold” rating to a “sell” rating in a research note on Friday. Finally, TheStreet raised Cardiovascular Systems from a “d” rating to a “c-” rating in a research report on Thursday, May 4th. Three equities research analysts have rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” 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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