Bank of Montreal Can lifted its stake in Cardiovascular Systems, Inc. (NASDAQ:CSII) by 5.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 100,419 shares of the medical device company’s stock after acquiring an additional 4,947 shares during the quarter. Bank of Montreal Can’s holdings in Cardiovascular Systems were worth $4,392,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in Cardiovascular Systems during the first quarter valued at approximately $37,000. Bbva USA bought a new stake in shares of Cardiovascular Systems during the 2nd quarter worth approximately $43,000. Versant Capital Management Inc boosted its holdings in shares of Cardiovascular Systems by 32.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,353 shares of the medical device company’s stock valued at $58,000 after buying an additional 335 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Cardiovascular Systems in the first quarter valued at $187,000. Finally, 6 Meridian bought a new position in shares of Cardiovascular Systems in the second quarter valued at $210,000. Institutional investors and hedge funds own 94.30% of the company’s stock.
CSII has been the subject of a number of recent analyst reports. SVB Leerink reiterated a “buy” rating on shares of Cardiovascular Systems in a research note on Sunday, September 26th. Needham & Company LLC reduced their price target on Cardiovascular Systems from $50.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, September 23rd. Finally, Northland Securities reissued a “buy” rating and set a $45.00 price target on shares of Cardiovascular Systems in a research report on Friday, July 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardiovascular Systems currently has an average rating of “Buy” and a consensus target price of $44.75.
Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings results on Wednesday, August 4th. The medical device company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.03. Cardiovascular Systems had a negative net margin of 5.18% and a negative return on equity of 4.95%. The firm had revenue of $70.99 million for the quarter, compared to analysts’ expectations of $69.00 million. Cardiovascular Systems’s quarterly revenue was up 66.8% on a year-over-year basis. As a group, analysts predict that Cardiovascular Systems, Inc. will post -0.2 EPS for the current fiscal year.
About Cardiovascular Systems
Cardiovascular Systems, Inc is a medical device company, which engages in the development and commercialization of solutions for treating vascular and coronary disease. It offers orbital atherectomy systems for both peripheral and coronary commercial applications. The company was founded in 1989 and is headquartered in St.
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