Renaissance Technologies LLC Lowers Stock Holdings in Cardiovascular Systems, Inc. (NASDAQ:CSII)

Posted by Defense World Staff on Mar 5th, 2023

Renaissance Technologies LLC trimmed its holdings in shares of Cardiovascular Systems, Inc. (NASDAQ:CSII – Get Rating) by 6.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 881,531 shares of the medical device company’s stock after selling 60,427 shares during the period. Renaissance Technologies LLC owned approximately 2.10% of Cardiovascular Systems worth $12,218,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Cardiovascular Systems by 1.1% during the first quarter. BlackRock Inc. now owns 7,087,402 shares of the medical device company’s stock valued at $160,176,000 after purchasing an additional 80,138 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Cardiovascular Systems by 593.8% during the second quarter. Federated Hermes Inc. now owns 827,933 shares of the medical device company’s stock valued at $11,889,000 after purchasing an additional 708,603 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in Cardiovascular Systems by 8.8% in the 1st quarter. Neuberger Berman Group LLC now owns 806,497 shares of the medical device company’s stock worth $18,215,000 after acquiring an additional 65,351 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Cardiovascular Systems by 12.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 621,960 shares of the medical device company’s stock worth $8,619,000 after acquiring an additional 67,743 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Cardiovascular Systems by 4.9% in the 1st quarter. Bank of New York Mellon Corp now owns 370,202 shares of the medical device company’s stock worth $8,367,000 after acquiring an additional 17,429 shares during the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

Cardiovascular Systems Price Performance

Shares of NASDAQ CSII opened at $19.79 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.92 and a current ratio of 6.04. Cardiovascular Systems, Inc. has a twelve month low of $12.26 and a twelve month high of $23.47. The company has a 50 day moving average of $15.79 and a 200 day moving average of $14.61.

Cardiovascular Systems (NASDAQ:CSII – Get Rating) last posted its earnings results on Wednesday, February 8th. The medical device company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). Cardiovascular Systems had a negative return on equity of 15.39% and a negative net margin of 15.79%. The company had revenue of $61.45 million during the quarter, compared to the consensus estimate of $63.06 million. During the same period last year, the firm posted ($0.23) EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts predict that Cardiovascular Systems, Inc. will post -0.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CSII. Barclays began coverage on shares of Cardiovascular Systems in a report on Wednesday, December 21st. They issued an “equal weight” rating and a $15.00 price objective for the company. Lake Street Capital lowered shares of Cardiovascular Systems from a “buy” rating to a “sell” rating in a report on Thursday, February 9th.

About Cardiovascular Systems

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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.