Formula Growth Ltd. continued to hold its stake in Cardiovascular Systems, Inc. (NASDAQ:CSII) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,200 shares of the medical device company’s stock at the end of the second quarter. Formula Growth Ltd. owned about 0.21% of Cardiovascular Systems worth $2,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. California Public Employees Retirement System grew its position in shares of Cardiovascular Systems by 0.6% in the 1st quarter. California Public Employees Retirement System now owns 31,900 shares of the medical device company’s stock valued at $902,000 after acquiring an additional 200 shares during the period. Legal & General Group Plc grew its position in shares of Cardiovascular Systems by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 7,763 shares of the medical device company’s stock valued at $249,000 after acquiring an additional 216 shares during the period. American Century Companies Inc. grew its position in shares of Cardiovascular Systems by 0.7% in the 2nd quarter. American Century Companies Inc. now owns 81,325 shares of the medical device company’s stock valued at $2,621,000 after acquiring an additional 568 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of Cardiovascular Systems by 8.8% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 9,850 shares of the medical device company’s stock valued at $317,000 after acquiring an additional 800 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in shares of Cardiovascular Systems by 9.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 9,193 shares of the medical device company’s stock valued at $296,000 after acquiring an additional 800 shares during the period. 74.70% of the stock is owned by institutional investors.

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Cardiovascular Systems, Inc. (CSII) traded down 0.40% during mid-day trading on Friday, hitting $27.52. 246,101 shares of the stock were exchanged. Cardiovascular Systems, Inc. has a 52 week low of $21.29 and a 52 week high of $33.11. The company’s market capitalization is $907.91 million. The stock’s 50-day moving average is $29.97 and its 200 day moving average is $30.14.

Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. The company had revenue of $52.90 million during the quarter, compared to analyst estimates of $51.98 million. Cardiovascular Systems had a negative net margin of 0.87% and a positive return on equity of 0.88%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.15) earnings per share.

In related news, CEO Scott R. Ward sold 5,529 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $30.41, for a total transaction of $168,136.89. Following the completion of the transaction, the chief executive officer now owns 282,536 shares in the company, valued at $8,591,919.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Edward M. Brown sold 20,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $29.16, for a total transaction of $583,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,065 shares of company stock valued at $1,514,031. 3.60% of the stock is owned by company insiders.

A number of research analysts have recently commented on CSII shares. Needham & Company LLC reissued a “buy” rating and issued a $37.00 price objective (up previously from $32.00) on shares of Cardiovascular Systems in a research report on Friday, July 14th. Bank of America Corporation downgraded shares of Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 21st. BidaskClub raised shares of Cardiovascular Systems from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. Citigroup Inc. started coverage on shares of Cardiovascular Systems in a research report on Thursday. They issued a “market perform” rating for the company. Finally, Zacks Investment Research downgraded shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.83.

Cardiovascular Systems Company Profile

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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Institutional Ownership by Quarter for Cardiovascular Systems (NASDAQ:CSII)

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