Stratos Wealth Partners LTD. increased its position in shares of Cardiovascular Systems, Inc. (NASDAQ:CSII) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 9,850 shares of the medical device company’s stock after buying an additional 800 shares during the period. Stratos Wealth Partners LTD.’s holdings in Cardiovascular Systems were worth $317,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP increased its position in shares of Cardiovascular Systems by 142.3% in the first quarter. Quantbot Technologies LP now owns 5,323 shares of the medical device company’s stock worth $150,000 after buying an additional 3,126 shares in the last quarter. Winslow Evans & Crocker Inc. bought a new position in shares of Cardiovascular Systems during the first quarter worth about $153,000. Old Mutual Global Investors UK Ltd. bought a new position in shares of Cardiovascular Systems during the first quarter worth about $163,000. Clinton Group Inc. bought a new position in shares of Cardiovascular Systems during the first quarter worth about $212,000. Finally, Koch Industries Inc. bought a new position in shares of Cardiovascular Systems during the first quarter worth about $229,000. Institutional investors and hedge funds own 75.15% of the company’s stock.
Shares of Cardiovascular Systems, Inc. (CSII) opened at 30.59 on Thursday. The firm’s market cap is $1.00 billion. The stock has a 50 day moving average price of $31.74 and a 200-day moving average price of $29.54. Cardiovascular Systems, Inc. has a 52-week low of $21.29 and a 52-week high of $33.11.
Cardiovascular Systems (NASDAQ:CSII) last posted its earnings results on Wednesday, August 2nd. The medical device company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.07. The firm had revenue of $52.90 million for the quarter, compared to analyst estimates of $51.98 million. Cardiovascular Systems had a positive return on equity of 0.89% and a negative net margin of 0.87%. Cardiovascular Systems’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) earnings per share. On average, equities analysts anticipate that Cardiovascular Systems, Inc. will post $0.04 EPS for the current fiscal year.
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A number of brokerages have recently issued reports on CSII. Zacks Investment Research downgraded Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Friday, August 4th. TheStreet upgraded Cardiovascular Systems from a “d” rating to a “c-” rating in a report on Thursday, May 4th. BidaskClub cut Cardiovascular Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Bank of America Corporation cut Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $32.00 price objective on shares of Cardiovascular Systems in a research report on Tuesday, April 18th. Three equities research analysts have rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Cardiovascular Systems currently has a consensus rating of “Hold” and a consensus target price of $33.83.
About Cardiovascular Systems
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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