Shares of Cardiovascular Systems, Inc. (NASDAQ:CSII) rose 6.9% during trading on Monday . The company traded as high as $32.82 and last traded at $31.40. Approximately 907,532 shares were traded during mid-day trading, an increase of 280% from the average daily volume of 238,731 shares. The stock had previously closed at $29.37.

CSII has been the subject of a number of recent analyst reports. BidaskClub cut shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Bank of America Corporation cut shares of Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 21st. Needham & Company LLC reiterated a “buy” rating and issued a $37.00 price target (up previously from $32.00) on shares of Cardiovascular Systems in a research note on Friday, July 14th. Finally, Zacks Investment Research cut shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Three research analysts have rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $33.83.

The stock’s market capitalization is $1.04 billion. The company’s 50 day moving average price is $30.79 and its 200 day moving average price is $29.99.

Cardiovascular Systems (NASDAQ:CSII) last posted its earnings results on Wednesday, August 2nd. The medical device company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $52.90 million during the quarter, compared to analyst estimates of $51.98 million. During the same quarter in the prior year, the business posted ($0.15) EPS. The business’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts expect that Cardiovascular Systems, Inc. will post $0.01 EPS for the current year.

In related news, General Counsel Alexander Rosenstein sold 979 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $30.71, for a total value of $30,065.09. Following the transaction, the general counsel now directly owns 52,296 shares of the company’s stock, valued at approximately $1,606,010.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward M. Brown sold 13,031 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $29.09, for a total transaction of $379,071.79. 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. Company insiders own 3.60% of the company’s stock.

Several large investors have recently modified their holdings of CSII. Teachers Advisors LLC boosted its holdings in shares of Cardiovascular Systems by 62.1% in the 4th quarter. Teachers Advisors LLC now owns 95,895 shares of the medical device company’s stock worth $2,322,000 after buying an additional 36,735 shares during the last quarter. Nationwide Fund Advisors boosted its holdings in shares of Cardiovascular Systems by 26.1% in the 1st quarter. Nationwide Fund Advisors now owns 42,815 shares of the medical device company’s stock worth $1,211,000 after buying an additional 8,854 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Cardiovascular Systems in the 1st quarter worth about $1,657,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Cardiovascular Systems in the 1st quarter worth about $424,000. Finally, Chicago Equity Partners LLC boosted its holdings in shares of Cardiovascular Systems by 1.0% in the 1st quarter. Chicago Equity Partners LLC now owns 30,890 shares of the medical device company’s stock worth $873,000 after buying an additional 300 shares during the last quarter. 74.70% of the stock is currently owned by institutional investors.

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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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