Bank of New York Mellon Corp reduced its holdings in shares of Cardiovascular Systems, Inc. (NASDAQ:CSII) by 9.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 349,428 shares of the medical device company’s stock after selling 36,851 shares during the period. Bank of New York Mellon Corp’s holdings in Cardiovascular Systems were worth $14,903,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Deutsche Bank AG lifted its position in shares of Cardiovascular Systems by 94.6% during the 2nd quarter. Deutsche Bank AG now owns 61,028 shares of the medical device company’s stock worth $2,603,000 after buying an additional 29,674 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of Cardiovascular Systems by 1.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 180,220 shares of the medical device company’s stock worth $7,686,000 after buying an additional 2,475 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Cardiovascular Systems in the second quarter valued at about $742,000. Skandinaviska Enskilda Banken AB publ raised its position in Cardiovascular Systems by 3.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 36,954 shares of the medical device company’s stock valued at $1,576,000 after purchasing an additional 1,067 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Cardiovascular Systems by 3.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 21,099 shares of the medical device company’s stock valued at $900,000 after purchasing an additional 797 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.
Several research firms have commented on CSII. Northland Securities reiterated a “buy” rating and issued a $45.00 target price on shares of Cardiovascular Systems in a research report on Friday, July 16th. SVB Leerink reiterated a “buy” rating on shares of Cardiovascular Systems in a research report on Sunday, September 26th. Finally, Needham & Company LLC dropped their target price on Cardiovascular Systems from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, September 23rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Cardiovascular Systems currently has an average rating of “Buy” and a consensus price target of $44.75.
Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings data on Wednesday, August 4th. The medical device company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.03. Cardiovascular Systems had a negative return on equity of 4.95% and a negative net margin of 5.18%. The company had revenue of $70.99 million during the quarter, compared to the consensus estimate of $69.00 million. The firm’s revenue for the quarter was up 66.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cardiovascular Systems, Inc. will post -0.2 EPS for the current year.
Cardiovascular Systems Company Profile
Cardiovascular Systems, Inc is a medical device company, which engages in the development and commercialization of solutions for treating vascular and coronary disease. It offers orbital atherectomy systems for both peripheral and coronary commercial applications. The company was founded in 1989 and is headquartered in St.
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