Schwab Charles Investment Management Inc. reduced its holdings in shares of Cardiovascular Systems, Inc. (NASDAQ:CSII) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 192,776 shares of the medical device company’s stock after selling 9,043 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.56% of Cardiovascular Systems worth $4,567,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. raised its stake in shares of Cardiovascular Systems by 132.7% in the third quarter. Point72 Asset Management L.P. now owns 469,978 shares of the medical device company’s stock valued at $13,230,000 after buying an additional 267,988 shares during the period. Thomson Horstmann & Bryant Inc. bought a new stake in shares of Cardiovascular Systems in the fourth quarter valued at $3,463,000. Cortina Asset Management LLC raised its stake in shares of Cardiovascular Systems by 5.0% in the third quarter. Cortina Asset Management LLC now owns 872,363 shares of the medical device company’s stock valued at $24,557,000 after buying an additional 41,496 shares during the period. New York State Common Retirement Fund raised its stake in shares of Cardiovascular Systems by 4.9% in the third quarter. New York State Common Retirement Fund now owns 464,811 shares of the medical device company’s stock valued at $13,084,000 after buying an additional 21,507 shares during the period. Finally, Granahan Investment Management Inc. MA raised its stake in shares of Cardiovascular Systems by 6.8% in the third quarter. Granahan Investment Management Inc. MA now owns 306,058 shares of the medical device company’s stock valued at $8,616,000 after buying an additional 19,398 shares during the period. Institutional investors and hedge funds own 82.55% of the company’s stock.
Cardiovascular Systems stock traded down $0.33 during midday trading on Friday, hitting $22.87. 153,080 shares of the company’s stock were exchanged, compared to its average volume of 242,377. Cardiovascular Systems, Inc. has a 52-week low of $20.58 and a 52-week high of $33.11. The company has a quick ratio of 4.13, a current ratio of 4.65 and a debt-to-equity ratio of 0.17. The stock has a market cap of $770.66, a price-to-earnings ratio of 762.33 and a beta of 2.15.
Cardiovascular Systems (NASDAQ:CSII) last released its earnings results on Wednesday, February 7th. The medical device company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. Cardiovascular Systems had a negative return on equity of 0.50% and a negative net margin of 1.62%. The company had revenue of $52.63 million during the quarter, compared to analyst estimates of $53.39 million. During the same quarter in the previous year, the company posted $0.03 EPS. Cardiovascular Systems’s revenue for the quarter was up 5.2% on a year-over-year basis. research analysts anticipate that Cardiovascular Systems, Inc. will post -0.07 earnings per share for the current year.
Several analysts have issued reports on CSII shares. Needham & Company LLC lowered Cardiovascular Systems from a “buy” rating to a “hold” rating and lowered their target price for the company from $33.11 to $23.00 in a research note on Friday, December 15th. William Blair reiterated a “market perform” rating on shares of Cardiovascular Systems in a research report on Thursday, December 21st. BidaskClub cut Cardiovascular Systems from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 27th. ValuEngine cut Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, Leerink Swann reduced their price target on Cardiovascular Systems from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Cardiovascular Systems presently has an average rating of “Hold” and a consensus price target of $27.00.
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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.
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