Insider Selling: Cardiovascular Systems Inc (CSII) General Counsel Sells 1,344 Shares of Stock

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Cardiovascular Systems Inc (NASDAQ:CSII) General Counsel Alexander Rosenstein sold 1,344 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $37.56, for a total transaction of $50,480.64. Following the sale, the general counsel now directly owns 49,469 shares of the company’s stock, valued at approximately $1,858,055.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Shares of Cardiovascular Systems stock traded up $0.43 on Tuesday, hitting $38.03. 148,300 shares of the company’s stock traded hands, compared to its average volume of 287,542. The stock has a market cap of $1.25 billion, a P/E ratio of 760.60 and a beta of 2.41. The company has a current ratio of 4.46, a quick ratio of 3.99 and a debt-to-equity ratio of 0.17. Cardiovascular Systems Inc has a 52-week low of $20.58 and a 52-week high of $39.50.

Cardiovascular Systems (NASDAQ:CSII) last released its earnings results on Monday, July 30th. The medical device company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The company had revenue of $59.15 million during the quarter, compared to analysts’ expectations of $58.43 million. Cardiovascular Systems had a return on equity of 1.39% and a net margin of 0.79%. equities analysts predict that Cardiovascular Systems Inc will post 0.02 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in shares of Cardiovascular Systems by 5.5% during the 1st quarter. Swiss National Bank now owns 57,800 shares of the medical device company’s stock valued at $1,268,000 after buying an additional 3,000 shares during the last quarter. Bank of Montreal Can lifted its stake in Cardiovascular Systems by 9.3% during the second quarter. Bank of Montreal Can now owns 56,773 shares of the medical device company’s stock worth $1,835,000 after purchasing an additional 4,817 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in Cardiovascular Systems by 15.0% during the first quarter. Champlain Investment Partners LLC now owns 2,590,330 shares of the medical device company’s stock worth $56,806,000 after purchasing an additional 336,975 shares during the last quarter. Cortina Asset Management LLC lifted its stake in Cardiovascular Systems by 8.6% during the first quarter. Cortina Asset Management LLC now owns 841,013 shares of the medical device company’s stock worth $18,443,000 after purchasing an additional 66,768 shares during the last quarter. Finally, Thomson Horstmann & Bryant Inc. lifted its stake in Cardiovascular Systems by 16.0% during the first quarter. Thomson Horstmann & Bryant Inc. now owns 169,514 shares of the medical device company’s stock worth $3,717,000 after purchasing an additional 23,325 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

A number of analysts recently issued reports on CSII shares. ValuEngine raised shares of Cardiovascular Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 6th. BidaskClub downgraded shares of Cardiovascular Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 28th. Bank of America raised shares of Cardiovascular Systems from an “underperform” rating to a “buy” rating in a research report on Wednesday, June 27th. Lake Street Capital reissued a “buy” rating and set a $50.00 target price on shares of Cardiovascular Systems in a research report on Wednesday, August 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cardiovascular Systems in a research report on Thursday, May 3rd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.75.

About Cardiovascular Systems

Cardiovascular Systems, Inc, a medical technology company, develops, manufactures, and markets devices to treat vascular diseases in the United States. The company offers peripheral arterial disease products, including Diamondback 360 Peripheral Orbital Atherectomy System (OAS), Diamondback 360 60cm Peripheral OAS, Diamondback 360 4 French 1.25 Peripheral OAS, Diamondback 360 1.50 Peripheral OAS, Diamondback 360 2.00 Peripheral OAS, and Stealth 360 Peripheral OAS, which are catheter-based platforms for treating a range of plaque types in leg arteries above and below the knee, including calcified plaque, as well as address various limitations associated with surgical, catheter, and pharmacological treatment alternatives.

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