Engineers Gate Manager LP bought a new position in shares of Cardiovascular Systems Inc (NASDAQ:CSII) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,811 shares of the medical device company’s stock, valued at approximately $285,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CSII. Perkins Capital Management Inc. grew its stake in Cardiovascular Systems by 12.4% in the 2nd quarter. Perkins Capital Management Inc. now owns 68,350 shares of the medical device company’s stock valued at $2,210,000 after buying an additional 7,550 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Cardiovascular Systems in the 2nd quarter valued at about $467,000. Taylor Cottrill Erickson & Associates Inc. acquired a new position in Cardiovascular Systems in the 2nd quarter valued at about $222,000. Acadian Asset Management LLC acquired a new position in Cardiovascular Systems in the 2nd quarter valued at about $114,000. Finally, Diversified Trust Co acquired a new position in Cardiovascular Systems in the 2nd quarter valued at about $277,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:CSII opened at $38.32 on Friday. Cardiovascular Systems Inc has a 12-month low of $20.58 and a 12-month high of $39.50. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 773.40 and a beta of 2.41. The company has a current ratio of 4.46, a quick ratio of 3.99 and a debt-to-equity ratio of 0.17.

Cardiovascular Systems (NASDAQ:CSII) last announced its earnings results on Monday, July 30th. The medical device company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.05. Cardiovascular Systems had a net margin of 0.79% and a return on equity of 1.39%. The firm had revenue of $59.15 million for the quarter, compared to analyst estimates of $58.43 million. equities analysts expect that Cardiovascular Systems Inc will post 0.02 earnings per share for the current fiscal year.

A number of brokerages recently commented on CSII. Bank of America upgraded shares of Cardiovascular Systems from an “underperform” rating to a “buy” rating in a research note on Wednesday, June 27th. Lake Street Capital reiterated a “buy” rating and issued a $50.00 price target on shares of Cardiovascular Systems in a research note on Wednesday, August 1st. BidaskClub lowered shares of Cardiovascular Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Needham & Company LLC restated a “hold” rating on shares of Cardiovascular Systems in a research report on Thursday, May 3rd. Finally, ValuEngine upgraded shares of Cardiovascular Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, May 16th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.20.

In related news, CFO Jeffrey S. Points sold 971 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $37.54, for a total transaction of $36,451.34. Following the sale, the chief financial officer now owns 23,229 shares in the company, valued at approximately $872,016.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sandra Sedo sold 862 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $37.52, for a total transaction of $32,342.24. Following the sale, the insider now owns 22,634 shares in the company, valued at approximately $849,227.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,177 shares of company stock worth $119,274. Company insiders own 3.30% of the company’s stock.

About Cardiovascular Systems

Cardiovascular Systems, Inc, a medical technology company, develops, manufactures, and markets devices to treat vascular diseases in the United States. The company offers peripheral arterial disease products, including Diamondback 360 Peripheral Orbital Atherectomy System (OAS), Diamondback 360 60cm Peripheral OAS, Diamondback 360 4 French 1.25 Peripheral OAS, Diamondback 360 1.50 Peripheral OAS, Diamondback 360 2.00 Peripheral OAS, and Stealth 360 Peripheral OAS, 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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Institutional Ownership by Quarter for Cardiovascular Systems (NASDAQ:CSII)

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