Cardiovascular Systems Inc (NASDAQ:CSII) General Counsel Alexander Rosenstein sold 685 shares of Cardiovascular Systems stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $31.96, for a total transaction of $21,892.60. Following the completion of the transaction, the general counsel now owns 93,491 shares of the company’s stock, valued at approximately $2,987,972.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
CSII opened at $32.98 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.46 and a quick ratio of 5.84. The firm has a 50 day simple moving average of $30.76 and a 200 day simple moving average of $36.83. Cardiovascular Systems Inc has a fifty-two week low of $26.00 and a fifty-two week high of $55.22.
Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings results on Tuesday, August 4th. The medical device company reported ($0.43) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.01. The business had revenue of $42.55 million during the quarter, compared to the consensus estimate of $38.51 million. Cardiovascular Systems had a negative net margin of 11.51% and a negative return on equity of 15.62%. Analysts forecast that Cardiovascular Systems Inc will post -0.44 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSII. Janus Henderson Group PLC increased its holdings in Cardiovascular Systems by 150.7% in the first quarter. Janus Henderson Group PLC now owns 1,353,866 shares of the medical device company’s stock valued at $47,670,000 after purchasing an additional 813,837 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in shares of Cardiovascular Systems in the 2nd quarter valued at about $20,508,000. Peregrine Capital Management LLC bought a new stake in shares of Cardiovascular Systems in the 1st quarter valued at about $12,114,000. Norges Bank bought a new stake in shares of Cardiovascular Systems in the 4th quarter valued at about $15,700,000. Finally, Champlain Investment Partners LLC increased its stake in shares of Cardiovascular Systems by 12.2% in the 1st quarter. Champlain Investment Partners LLC now owns 2,690,410 shares of the medical device company’s stock valued at $94,729,000 after acquiring an additional 292,215 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.
A number of research firms have recently issued reports on CSII. Aegis lifted their target price on shares of Cardiovascular Systems from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Lake Street Capital cut their price objective on Cardiovascular Systems from $54.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. SVB Leerink lifted their price target on Cardiovascular Systems from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. BidaskClub cut Cardiovascular Systems from a “sell” rating to a “strong sell” rating in a report on Friday, July 10th. Finally, Northland Securities assumed coverage on shares of Cardiovascular Systems in a research note on Wednesday, July 22nd. They issued an “outperform” rating and a $40.00 target price for the company. Two research analysts have rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Cardiovascular Systems currently has a consensus rating of “Buy” and an average target price of $46.22.
About Cardiovascular Systems
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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