Jennison Associates LLC grew its stake in Cardiovascular Systems, Inc. (NASDAQ:CSII) by 80.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,647 shares of the medical device company’s stock after buying an additional 10,080 shares during the period. Jennison Associates LLC owned 0.07% of Cardiovascular Systems worth $638,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Gabelli Funds LLC increased its holdings in shares of Cardiovascular Systems by 223.1% in the 3rd quarter. Gabelli Funds LLC now owns 218,500 shares of the medical device company’s stock valued at $6,151,000 after purchasing an additional 150,880 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Cardiovascular Systems by 96.2% during the 3rd quarter. Gamco Investors INC. ET AL now owns 81,430 shares of the medical device company’s stock worth $2,292,000 after purchasing an additional 39,930 shares during the last quarter. WFG Advisors LP boosted its stake in shares of Cardiovascular Systems by 266.1% during the 2nd quarter. WFG Advisors LP now owns 47,058 shares of the medical device company’s stock worth $1,517,000 after purchasing an additional 34,203 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cardiovascular Systems during the 2nd quarter worth about $369,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Cardiovascular Systems by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,114 shares of the medical device company’s stock worth $809,000 after purchasing an additional 299 shares during the last quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.
Cardiovascular Systems, Inc. (NASDAQ CSII) traded up $0.16 during midday trading on Wednesday, reaching $23.93. The company’s stock had a trading volume of 117,409 shares, compared to its average volume of 269,888. The firm has a market cap of $824.03, a P/E ratio of 1,207.50 and a beta of 2.52. Cardiovascular Systems, Inc. has a 12-month low of $23.00 and a 12-month high of $33.11. The company has a current ratio of 4.30, a quick ratio of 3.83 and a debt-to-equity ratio of 0.18.
Several research firms recently commented on CSII. Zacks Investment Research lowered shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Citigroup started coverage on shares of Cardiovascular Systems in a research note on Thursday, September 21st. They set a “market perform” rating on the stock. Raymond James Financial started coverage on shares of Cardiovascular Systems in a research report on Friday, September 22nd. They set a “market perform” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price objective (down previously from $37.00) on shares of Cardiovascular Systems in a report on Thursday, October 26th. Finally, BidaskClub downgraded shares of Cardiovascular Systems from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $38.00.
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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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