Balyasny Asset Management LLC Takes Position in Cardiovascular Systems, Inc. (CSII)

Balyasny Asset Management LLC bought a new position in Cardiovascular Systems, Inc. (NASDAQ:CSII) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 13,221 shares of the medical device company’s stock, valued at approximately $426,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. QS Investors LLC boosted its position in shares of Cardiovascular Systems by 12.8% during the 2nd quarter. QS Investors LLC now owns 99,548 shares of the medical device company’s stock valued at $3,208,000 after acquiring an additional 11,287 shares during the last quarter. Numeric Investors LLC boosted its position in shares of Cardiovascular Systems by 11.6% during the 2nd quarter. Numeric Investors LLC now owns 218,786 shares of the medical device company’s stock valued at $7,051,000 after acquiring an additional 22,703 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of Cardiovascular Systems by 7.7% during the 2nd quarter. Voya Investment Management LLC now owns 15,836 shares of the medical device company’s stock valued at $510,000 after acquiring an additional 1,127 shares during the last quarter. Citadel Advisors LLC boosted its position in shares of Cardiovascular Systems by 46.0% during the 2nd quarter. Citadel Advisors LLC now owns 128,228 shares of the medical device company’s stock valued at $4,133,000 after acquiring an additional 40,417 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Cardiovascular Systems by 77.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 59,884 shares of the medical device company’s stock valued at $1,930,000 after acquiring an additional 26,212 shares during the last quarter. Institutional investors and hedge funds own 74.69% of the company’s stock.

A number of brokerages have recently issued reports on CSII. Needham & Company LLC reiterated a “buy” rating and set a $36.00 price target (down previously from $37.00) on shares of Cardiovascular Systems in a research report on Thursday. BidaskClub downgraded Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Raymond James Financial, Inc. assumed coverage on Cardiovascular Systems in a research report on Friday, September 22nd. They issued a “market perform” rating for the company. Finally, Citigroup Inc. assumed coverage on Cardiovascular Systems in a research report on Thursday, September 21st. They issued a “market perform” rating for the company. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Cardiovascular Systems currently has a consensus rating of “Hold” and a consensus target price of $35.33.

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Cardiovascular Systems, Inc. (NASDAQ:CSII) opened at 24.64 on Friday. The firm has a 50-day moving average price of $28.27 and a 200-day moving average price of $30.13. Cardiovascular Systems, Inc. has a 52 week low of $21.92 and a 52 week high of $33.11. The stock’s market capitalization is $812.90 million.

Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings data on Wednesday, October 25th. The medical device company reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Cardiovascular Systems had a positive return on equity of 0.75% and a negative net margin of 0.93%. The company had revenue of $49.70 million during the quarter, compared to analyst estimates of $51.00 million. During the same period in the previous year, the business earned ($0.06) EPS. Cardiovascular Systems’s quarterly revenue was down .2% on a year-over-year basis.

In other news, CEO Scott R. Ward sold 5,529 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $30.41, for a total value of $168,136.89. Following the completion of the sale, the chief executive officer now directly owns 282,536 shares in the company, valued at $8,591,919.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Laurence L. Betterley sold 4,443 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $30.74, for a total value of $136,577.82. Following the completion of the sale, the chief financial officer now owns 223,557 shares of the company’s stock, valued at $6,872,142.18. The disclosure for this sale can be found here. Insiders sold 51,065 shares of company stock valued at $1,514,031 over the last 90 days. Company insiders own 3.30% of the company’s stock.

Cardiovascular Systems Profile

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.

Institutional Ownership by Quarter for Cardiovascular Systems (NASDAQ:CSII)

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