Price T Rowe Associates Inc. MD lowered its position in Cardiovascular Systems Inc (NASDAQ:CSII) by 21.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,849 shares of the medical device company’s stock after selling 4,209 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Cardiovascular Systems were worth $680,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Brown Capital Management LLC grew its holdings in Cardiovascular Systems by 21.7% during the 2nd quarter. Brown Capital Management LLC now owns 4,563,352 shares of the medical device company’s stock valued at $195,905,000 after buying an additional 812,595 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in Cardiovascular Systems by 316.7% during the 2nd quarter. Eagle Asset Management Inc. now owns 150,501 shares of the medical device company’s stock valued at $6,461,000 after buying an additional 114,381 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Cardiovascular Systems during the 1st quarter valued at about $3,866,000. Jacobs Levy Equity Management Inc. grew its holdings in Cardiovascular Systems by 37.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 223,403 shares of the medical device company’s stock valued at $8,637,000 after buying an additional 60,810 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Cardiovascular Systems by 1.1% during the 2nd quarter. BlackRock Inc. now owns 5,508,322 shares of the medical device company’s stock valued at $236,471,000 after buying an additional 59,146 shares in the last quarter. 90.56% of the stock is owned by institutional investors.
A number of research firms have weighed in on CSII. Zacks Investment Research lowered Cardiovascular Systems from a “hold” rating to a “strong sell” rating and set a $47.00 target price for the company. in a report on Thursday, August 8th. ValuEngine lowered Cardiovascular Systems from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub lowered Cardiovascular Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Stifel Nicolaus lowered Cardiovascular Systems from a “buy” rating to a “hold” rating and lifted their target price for the company from $41.00 to $45.00 in a report on Tuesday, July 16th. They noted that the move was a valuation call. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cardiovascular Systems in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Cardiovascular Systems currently has a consensus rating of “Hold” and a consensus price target of $48.50.
Shares of CSII traded down $0.58 during trading hours on Monday, reaching $46.01. 3,880 shares of the company’s stock traded hands, compared to its average volume of 227,439. The stock has a market cap of $1.59 billion, a PE ratio of -4,600.50 and a beta of 1.70. The company has a current ratio of 4.25, a quick ratio of 3.83 and a debt-to-equity ratio of 0.14. The firm’s 50 day simple moving average is $48.31 and its 200-day simple moving average is $42.87. Cardiovascular Systems Inc has a 12 month low of $24.84 and a 12 month high of $52.54.
Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.04. The firm had revenue of $68.23 million during the quarter, compared to the consensus estimate of $66.04 million. Cardiovascular Systems had a negative return on equity of 0.18% and a negative net margin of 0.10%.
About Cardiovascular Systems
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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