Bank of New York Mellon Corp raised its stake in shares of Cardiovascular Systems Inc. (NASDAQ:CSII) by 4.7% during the second quarter, Holdings Channel reports. The institutional investor owned 142,313 shares of the medical device company’s stock after buying an additional 6,437 shares during the period. Bank of New York Mellon Corp owned about 0.44% of Cardiovascular Systems worth $2,615,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Cutler Group LP boosted its position in shares of Cardiovascular Systems by 4.7% in the second quarter. Cutler Group LP now owns 7,787 shares of the medical device company’s stock valued at $143,000 after buying an additional 350 shares during the period. Strs Ohio purchased a new position in shares of Cardiovascular Systems during the second quarter valued at about $194,000. Menta Capital LLC boosted its position in shares of Cardiovascular Systems by 89.0% in the first quarter. Menta Capital LLC now owns 25,515 shares of the medical device company’s stock valued at $265,000 after buying an additional 12,015 shares during the period. Iguana Healthcare Management LLC purchased a new position in shares of Cardiovascular Systems during the first quarter valued at about $754,000. Finally, Amici Capital LLC purchased a new position in shares of Cardiovascular Systems during the first quarter valued at about $830,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.
Shares of Cardiovascular Systems Inc. (NASDAQ:CSII) traded down 0.25% during mid-day trading on Monday, hitting $23.68. The stock had a trading volume of 207,633 shares. The stock’s 50-day moving average price is $23.74 and its 200-day moving average price is $18.00. Cardiovascular Systems Inc. has a 12-month low of $7.50 and a 12-month high of $25.22. The stock’s market capitalization is $789.61 million.
Cardiovascular Systems (NASDAQ:CSII) last announced its earnings results on Wednesday, August 3rd. The medical device company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.05. The business had revenue of $48.50 million for the quarter, compared to the consensus estimate of $46.01 million. Cardiovascular Systems had a negative return on equity of 38.39% and a negative net margin of 31.44%. Cardiovascular Systems’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.27) EPS. On average, equities analysts anticipate that Cardiovascular Systems Inc. will post ($0.62) EPS for the current fiscal year.
Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target (up from $20.00) on shares of Cardiovascular Systems in a research report on Wednesday, June 29th. Bank of America Corp. upgraded Cardiovascular Systems from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 4th. Leerink Swann upgraded Cardiovascular Systems from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Monday, August 22nd. Finally, Zacks Investment Research upgraded Cardiovascular Systems from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Monday, August 8th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Cardiovascular Systems has a consensus rating of “Buy” and an average price target of $23.71.
In other Cardiovascular Systems news, SVP Paul A. Koehn sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $22.17, for a total transaction of $88,680.00. Following the transaction, the senior vice president now owns 102,652 shares of the company’s stock, valued at approximately $2,275,794.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Laura Gillund sold 1,395 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $23.93, for a total value of $33,382.35. Following the transaction, the insider now directly owns 82,817 shares in the company, valued at approximately $1,981,810.81. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.
About Cardiovascular Systems
Cardiovascular Systems, Inc is a medical technology company. The Company is engaged in treating patients suffering from peripheral and coronary arterial diseases. It has developed an orbital atherectomy technology for peripheral and coronary commercial applications. Its peripheral arterial disease systems are catheter-based platforms that treat plaque types in leg arteries both above and below the knee.
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