Cambridge Investment Research Advisors Inc. Purchases 8,255 Shares of Cardiovascular Systems, Inc. (NASDAQ:CSII)

Cambridge Investment Research Advisors Inc. grew its holdings in Cardiovascular Systems, Inc. (NASDAQ:CSII) by 53.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,585 shares of the medical device company’s stock after buying an additional 8,255 shares during the period. Cambridge Investment Research Advisors Inc. owned approximately 0.07% of Cardiovascular Systems worth $760,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CSII. American Century Companies Inc. boosted its position in 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 buying an additional 568 shares during the period. Redwood Investments LLC boosted its position in Cardiovascular Systems by 16.5% in the 2nd quarter. Redwood Investments LLC now owns 218,258 shares of the medical device company’s stock valued at $7,034,000 after buying an additional 30,877 shares during the period. Marshall Wace North America L.P. boosted its position in Cardiovascular Systems by 23.8% in the 2nd quarter. Marshall Wace North America L.P. now owns 382,924 shares of the medical device company’s stock valued at $12,254,000 after buying an additional 73,513 shares during the period. Jennison Associates LLC raised its holdings in shares of Cardiovascular Systems by 22.7% in the 2nd quarter. Jennison Associates LLC now owns 12,567 shares of the medical device company’s stock valued at $405,000 after purchasing an additional 2,323 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Cardiovascular Systems by 160.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,135 shares of the medical device company’s stock valued at $166,000 after purchasing an additional 3,165 shares in the last quarter. 74.70% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on CSII. Raymond James Financial, Inc. initiated coverage on shares of Cardiovascular Systems in a report on Friday. They set a “market perform” rating on the stock. BidaskClub cut shares of Cardiovascular Systems from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Zacks Investment Research cut shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Needham & Company LLC restated a “buy” rating and set a $37.00 price objective (up from $32.00) on shares of Cardiovascular Systems in a research report on Friday, July 14th. Finally, Bank of America Corporation cut shares of Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $33.83.

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In other news, CEO Scott R. Ward sold 5,529 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was 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 directly owns 282,536 shares of the company’s stock, valued at $8,591,919.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Laurence L. Betterley sold 4,443 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $30.74, for a total value of $136,577.82. Following the transaction, the chief financial officer now directly owns 223,557 shares of the company’s stock, valued at $6,872,142.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,065 shares of company stock valued at $1,514,031. Corporate insiders own 3.60% of the company’s stock.

Cardiovascular Systems, Inc. (CSII) opened at 27.52 on Friday. Cardiovascular Systems, Inc. has a 1-year low of $21.29 and a 1-year high of $33.11. The stock has a 50 day moving average of $29.97 and a 200 day moving average of $30.14. The stock’s market cap is $907.91 million.

Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. The business 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 0.88% and a negative net margin of 0.87%. Cardiovascular Systems’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.15) EPS.

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.

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

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