Cardiovascular Systems Inc (NASDAQ:CSII) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,094,218 shares, a growth of 38.0% from the February 15th total of 792,708 shares. Based on an average trading volume of 390,932 shares, the days-to-cover ratio is presently 2.8 days. Currently, 3.5% of the company’s stock are short sold.
Several hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in shares of Cardiovascular Systems by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 25,114 shares of the medical device company’s stock worth $809,000 after purchasing an additional 299 shares during the last quarter. HBK Investments L P raised its stake in shares of Cardiovascular Systems by 3.4% in the fourth quarter. HBK Investments L P now owns 93,600 shares of the medical device company’s stock worth $2,217,000 after purchasing an additional 3,043 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Cardiovascular Systems by 8.4% in the third quarter. Wells Fargo & Company MN now owns 47,253 shares of the medical device company’s stock worth $1,330,000 after purchasing an additional 3,648 shares during the last quarter. US Bancorp DE raised its stake in shares of Cardiovascular Systems by 51.7% in the fourth quarter. US Bancorp DE now owns 13,208 shares of the medical device company’s stock worth $313,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Cardiovascular Systems by 12.5% in the fourth quarter. Bank of Montreal Can now owns 53,889 shares of the medical device company’s stock worth $1,277,000 after purchasing an additional 5,998 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.
Cardiovascular Systems (NASDAQ CSII) opened at $25.40 on Wednesday. Cardiovascular Systems has a one year low of $20.58 and a one year high of $33.11. The company has a quick ratio of 4.13, a current ratio of 4.65 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $883.61, a price-to-earnings ratio of -254.00 and a beta of 2.26.
Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings results on Wednesday, February 7th. The medical device company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Cardiovascular Systems had a negative return on equity of 0.50% and a negative net margin of 1.62%. The firm had revenue of $52.63 million during the quarter, compared to analysts’ expectations of $53.39 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. research analysts expect that Cardiovascular Systems will post -0.07 EPS for the current fiscal year.
Several research firms have commented on CSII. BidaskClub raised Cardiovascular Systems from a “hold” rating to a “buy” rating in a report on Friday, March 9th. Zacks Investment Research downgraded Cardiovascular Systems from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Leerink Swann dropped their target price on Cardiovascular Systems from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. ValuEngine cut Cardiovascular Systems from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, William Blair restated a “market perform” rating on shares of Cardiovascular Systems in a research note on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.00.
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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