Today: Today: Perkins Capital Management Inc. decides to keep it stake in Cardiovascular Systems Inc. (CSII) to the level of $2,649,000

Today: Perkins Capital Management Inc. decides to keep it stake in Cardiovascular Systems Inc. (CSII) to the level of $2,649,000

Perkins Capital Management Inc. maintained its position in shares of Cardiovascular Systems Inc. (NASDAQ:CSII) during the third quarter, Holdings Channel reports. The fund owned 111,600 shares of the medical device company’s stock at the end of the third quarter. Cardiovascular Systems accounts for 2.6% of Perkins Capital Management Inc.’s holdings, making the stock its 6th largest position. Perkins Capital Management Inc. owned approximately 0.34% of Cardiovascular Systems worth $2,649,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Cardiovascular Systems by 13.8% in the second quarter. Vanguard Group Inc. now owns 1,276,110 shares of the medical device company’s stock valued at $23,449,000 after buying an additional 155,207 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Cardiovascular Systems by 7.4% in the second quarter. BlackRock Fund Advisors now owns 1,029,274 shares of the medical device company’s stock valued at $18,913,000 after buying an additional 70,775 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Cardiovascular Systems by 6.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 805,778 shares of the medical device company’s stock valued at $14,806,000 after buying an additional 51,329 shares in the last quarter. FMR LLC raised its position in shares of Cardiovascular Systems by 24.0% in the second quarter. FMR LLC now owns 620,000 shares of the medical device company’s stock valued at $11,393,000 after buying an additional 120,000 shares in the last quarter. Finally, State Street Corp raised its position in shares of Cardiovascular Systems by 4.1% in the second quarter. State Street Corp now owns 522,343 shares of the medical device company’s stock valued at $9,599,000 after buying an additional 20,773 shares in the last quarter. Hedge funds and other institutional investors own 70.79% of the company’s stock.

Shares of Cardiovascular Systems Inc. (NASDAQ:CSII) traded down 1.29% during midday trading on Monday, hitting $25.26. 13,578 shares of the company’s stock were exchanged. Cardiovascular Systems Inc. has a 1-year low of $7.50 and a 1-year high of $27.38. The stock’s 50 day moving average is $24.36 and its 200-day moving average is $21.23. The stock’s market cap is $835.17 million.

Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings results on Wednesday, October 26th. The medical device company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.13. Cardiovascular Systems had a negative net margin of 24.24% and a negative return on equity of 30.19%. The business earned $49.80 million during the quarter, compared to the consensus estimate of $205.50 million. During the same period in the previous year, the firm posted ($0.41) earnings per share. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. Analysts predict that Cardiovascular Systems Inc. will post ($0.21) earnings per share for the current fiscal year.

Several brokerages recently weighed in on CSII. Zacks Investment Research downgraded shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Leerink Swann reaffirmed an “outperform” rating and set a $30.00 target price on shares of Cardiovascular Systems in a research note on Tuesday, November 15th. Needham & Company LLC upped their target price on shares of Cardiovascular Systems from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. JMP Securities began coverage on shares of Cardiovascular Systems in a research note on Friday, October 7th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, Bank of America Corp. raised shares of Cardiovascular Systems from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 4th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Cardiovascular Systems presently has an average rating of “Buy” and a consensus price target of $27.50.

In related news, insider Laura Gillund sold 1,268 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $26.79, for a total value of $33,969.72. Following the sale, the insider now directly owns 69,541 shares of the company’s stock, valued at $1,863,003.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Camber Capital Management Llc sold 1,100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $23.26, for a total transaction of $25,586,000.00. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.

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.

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