Cardiovascular Systems Inc (CSII) Short Interest Up 326.1% in March

Cardiovascular Systems Inc (NASDAQ:CSII) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 3,688,567 shares, a growth of 326.1% from the February 28th total of 865,738 shares. Currently, 11.0% of the company’s shares are short sold. Based on an average daily volume of 1,465,959 shares, the days-to-cover ratio is currently 2.5 days.

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Cardiovascular Systems by 12.5% during the 4th quarter. BlackRock Inc. now owns 2,901,471 shares of the medical device company’s stock valued at $82,663,000 after buying an additional 322,994 shares in the last quarter. Partner Fund Management L.P. grew its holdings in Cardiovascular Systems by 57.2% during the 4th quarter. Partner Fund Management L.P. now owns 1,599,867 shares of the medical device company’s stock valued at $45,580,000 after buying an additional 581,950 shares in the last quarter. Vanguard Group Inc grew its holdings in Cardiovascular Systems by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 1,551,218 shares of the medical device company’s stock valued at $60,714,000 after buying an additional 14,623 shares in the last quarter. Vanguard Group Inc. grew its holdings in Cardiovascular Systems by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,551,218 shares of the medical device company’s stock valued at $60,714,000 after buying an additional 14,623 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Cardiovascular Systems by 17.7% during the 3rd quarter. Renaissance Technologies LLC now owns 886,356 shares of the medical device company’s stock valued at $34,692,000 after buying an additional 133,056 shares in the last quarter. 84.54% of the stock is currently owned by institutional investors.

NASDAQ:CSII traded up $0.23 on Friday, hitting $34.16. The stock had a trading volume of 426,224 shares, compared to its average volume of 358,750. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.88 and a current ratio of 4.38. Cardiovascular Systems has a 52-week low of $21.88 and a 52-week high of $42.64. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 683.20 and a beta of 2.16.

Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings data on Wednesday, January 30th. The medical device company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. Cardiovascular Systems had a return on equity of 1.28% and a net margin of 0.74%. The firm had revenue of $60.21 million for the quarter, compared to the consensus estimate of $59.66 million. As a group, equities analysts forecast that Cardiovascular Systems will post -0.1 earnings per share for the current fiscal year.

CSII has been the subject of several recent research reports. BidaskClub downgraded Cardiovascular Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Zacks Investment Research upgraded Cardiovascular Systems from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Monday, March 18th. ValuEngine upgraded Cardiovascular Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 5th. Finally, Bank of America cut Cardiovascular Systems from a “buy” rating to an “underperform” rating and set a $42.00 target price on the stock. in a research note on Thursday, April 11th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $44.00.

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Cardiovascular Systems Company Profile

Cardiovascular Systems, Inc, a medical device company, develops, manufactures, and commercializes various devices to treat vascular and coronary diseases in the United States. The company offers peripheral arterial disease products, including Diamondback 360 Peripheral, Predator 360, Stealth 360 Peripheral Orbital Atherectomy System (OAS), Diamondback 360 60cm Peripheral OAS, Diamondback 360 Low Profile Peripheral, Diamondback 360 1.50 Peripheral, Diamondback 360 2.00 Peripheral, Diamondback 360 200cm Peripheral, and Diamondback 360 180cm Peripheral, 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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