Frontier Capital Management Co. LLC trimmed its holdings in Cardiovascular Systems Inc (NASDAQ:CSII) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 747,546 shares of the medical device company’s stock after selling 26,812 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Cardiovascular Systems were worth $29,259,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Millennium Management LLC grew its position in Cardiovascular Systems by 2,442.1% in the second quarter. Millennium Management LLC now owns 290,916 shares of the medical device company’s stock worth $9,408,000 after acquiring an additional 279,472 shares during the period. BlackRock Inc. grew its position in Cardiovascular Systems by 9.3% in the second quarter. BlackRock Inc. now owns 2,479,543 shares of the medical device company’s stock worth $80,188,000 after acquiring an additional 210,128 shares during the period. DAFNA Capital Management LLC purchased a new position in Cardiovascular Systems in the second quarter worth approximately $1,915,000. FMR LLC grew its position in Cardiovascular Systems by 187.0% in the second quarter. FMR LLC now owns 516,100 shares of the medical device company’s stock worth $16,690,000 after acquiring an additional 336,300 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Cardiovascular Systems by 9.3% during the second quarter. Bank of Montreal Can now owns 56,773 shares of the medical device company’s stock worth $1,835,000 after buying an additional 4,817 shares during the period. Institutional investors own 79.35% of the company’s stock.
In other news, insider Sandra Sedo sold 862 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $37.52, for a total value of $32,342.24. Following the sale, the insider now directly owns 22,634 shares in the company, valued at $849,227.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Alexander Rosenstein sold 1,344 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $37.56, for a total value of $50,480.64. Following the completion of the sale, the general counsel now owns 49,469 shares in the company, valued at $1,858,055.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,177 shares of company stock worth $119,274. Insiders own 2.80% of the company’s stock.
CSII opened at $30.67 on Friday. Cardiovascular Systems Inc has a 52 week low of $20.58 and a 52 week high of $40.00. The firm has a market cap of $973.50 million, a PE ratio of 613.40 and a beta of 2.36. The company has a quick ratio of 4.03, a current ratio of 4.47 and a debt-to-equity ratio of 0.16.
Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings data on Tuesday, October 30th. The medical device company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The company had revenue of $56.27 million during the quarter, compared to analyst estimates of $55.96 million. Cardiovascular Systems had a net margin of 0.36% and a return on equity of 0.62%. Equities research analysts predict that Cardiovascular Systems Inc will post -0.09 earnings per share for the current fiscal year.
CSII has been the subject of several research analyst reports. ValuEngine upgraded Cardiovascular Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 6th. BidaskClub upgraded Cardiovascular Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Stifel Nicolaus initiated coverage on Cardiovascular Systems in a research report on Wednesday, August 22nd. They set a “buy” rating and a $45.00 price target for the company. Lake Street Capital restated a “buy” rating and set a $50.00 price target on shares of Cardiovascular Systems in a research report on Wednesday, August 1st. Finally, Zacks Investment Research lowered Cardiovascular Systems from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.20.
Cardiovascular Systems Company Profile
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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