Camber Capital Management Lowers stake in Cardiovascular Systems Inc (CSII)

Cardiovascular Systems Inc (CSII) : Camber Capital Management reduced its stake in Cardiovascular Systems Inc by 26.83% during the most recent quarter end. The investment management company now holds a total of 3,000,000 shares of Cardiovascular Systems Inc which is valued at $74,850,000 after selling 1,100,000 shares in Cardiovascular Systems Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Cardiovascular Systems Inc makes up approximately 4.93% of Camber Capital Management’s portfolio.

Other Hedge Funds, Including , Bogle Investment Management L P De boosted its stake in CSII in the latest quarter, The investment management firm added 81,547 additional shares and now holds a total of 240,801 shares of Cardiovascular Systems Inc which is valued at $6,007,985. Cardiovascular Systems Inc makes up approx 0.44% of Bogle Investment Management L P De’s portfolio. Acrospire Investment Management added CSII to its portfolio by purchasing 1,006 company shares during the most recent quarter which is valued at $25,814. Cardiovascular Systems Inc makes up approx 0.02% of Acrospire Investment Management’s portfolio. Emerald Acquisition Ltd. added CSII to its portfolio by purchasing 31,193 company shares during the most recent quarter which is valued at $764,540.Swiss National Bank reduced its stake in CSII by selling 2,000 shares or 3.93% in the most recent quarter. The Hedge Fund company now holds 48,900 shares of CSII which is valued at $1,157,463. Buckingham Asset Management sold out all of its stake in CSII during the most recent quarter. The investment firm sold 13,500 shares of CSII which is valued $319,005.

Cardiovascular Systems Inc opened for trading at $26.86 and hit $27.13 on the upside on Monday, eventually ending the session at $26.92, with a gain of 0.15% or 0.04 points. The heightened volatility saw the trading volume jump to 3,33,037 shares. Company has a market cap of $890 M.

On the company’s financial health, Cardiovascular Systems Inc reported $-0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $-0.18. The company had revenue of $49.80 million for the quarter, compared to analysts expectations of $48.95 million. The company’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.41 EPS.

Many Wall Street Analysts have commented on Cardiovascular Systems Inc. Cardiovascular Systems Inc was Resumed by JMP Securities to “Mkt Outperform” on Oct 7, 2016. Cardiovascular Systems Inc was Upgraded by Leerink Partners to ” Outperform” on Aug 22, 2016.

Cardiovascular Systems Inc. is a medical technology company. The Company is engaged in treating patients suffering from peripheral and coronary arterial diseases. It has developed an orbital atherectomy technology for peripheral and coronary commercial applications. Its peripheral arterial disease systems are catheter-based platforms that treat plaque types in leg arteries both above and below the knee. Its products include Stealth 360 degree Peripheral Orbital Atherectomy System (OAS); the Diamondback 360 Peripheral OAS (Diamondback 360 Peripheral) and Diamondback 360 Peripheral Diamondback 360 60cm Peripheral OAS and Diamondback 360 4 French 1.25 Peripheral (collectively called as peripheral arterial disease systems (PAD systems)). Its coronary product the Diamondback 360 Coronary OAS (CAD System) is a catheter-based platform designed to facilitate stent delivery in patients with coronary arterial disease (CAD). The CAD System design is customized for the coronary application.

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