Timpani Capital Management LLC Buys 22,649 Shares of Cardiovascular Systems, Inc. (CSII)
Timpani Capital Management LLC grew its stake in shares of Cardiovascular Systems, Inc. (NASDAQ:CSII) by 24.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,397 shares of the medical device company’s stock after acquiring an additional 22,649 shares during the period. Cardiovascular Systems accounts for approximately 1.4% of Timpani Capital Management LLC’s portfolio, making the stock its 28th largest holding. Timpani Capital Management LLC owned 0.36% of Cardiovascular Systems worth $3,751,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of CSII. Cortina Asset Management LLC purchased a new stake in shares of Cardiovascular Systems during the first quarter worth $24,329,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Cardiovascular Systems during the first quarter worth $8,663,000. Marshall Wace North America L.P. purchased a new stake in shares of Cardiovascular Systems during the first quarter worth $8,663,000. Vanguard Group Inc. lifted its position in shares of Cardiovascular Systems by 22.7% during the first quarter. Vanguard Group Inc. now owns 1,656,356 shares of the medical device company’s stock worth $46,834,000 after acquiring an additional 305,953 shares in the last quarter. Finally, Brown Capital Management LLC purchased a new stake in shares of Cardiovascular Systems during the first quarter worth $7,676,000. Hedge funds and other institutional investors own 74.70% of the company’s stock.
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CSII has been the topic of several recent research reports. BidaskClub downgraded Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Bank of America Corporation cut shares of Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $37.00 price target (up previously from $32.00) on shares of Cardiovascular Systems in a report on Friday, July 14th. Finally, Zacks Investment Research cut shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Three 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 company. The company currently has a consensus rating of “Hold” and a consensus target price of $33.83.
In other Cardiovascular Systems news, CFO Laurence L. Betterley sold 4,443 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $30.74, for a total value of $136,577.82. Following the sale, the chief financial officer now owns 223,557 shares in the company, valued at approximately $6,872,142.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward M. Brown sold 20,000 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was 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 worth $1,514,031. 3.60% of the stock is owned by corporate insiders.
Cardiovascular Systems, Inc. (CSII) traded up 0.17% on Friday, hitting $29.77. 144,238 shares of the stock traded hands. Cardiovascular Systems, Inc. has a 52-week low of $21.29 and a 52-week high of $33.11. The stock’s market cap is $982.14 million. The company’s 50 day moving average price is $30.44 and its 200-day moving average price is $30.03.
Cardiovascular Systems (NASDAQ:CSII) last released its earnings results on Wednesday, August 2nd. The medical device company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.07. Cardiovascular Systems had a negative net margin of 0.87% and a positive return on equity of 0.88%. The company had revenue of $52.90 million for the quarter, compared to analysts’ expectations of $51.98 million. During the same quarter in the previous year, the company earned ($0.15) EPS. Cardiovascular Systems’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts forecast that Cardiovascular Systems, Inc. will post $0.01 earnings per share for the current fiscal year.
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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