Traders Buy High Volume of Cardiovascular Systems Call Options (NASDAQ:CSII)

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Cardiovascular Systems Inc (NASDAQ:CSII) was the target of some unusual options trading activity on Wednesday. Investors acquired 2,941 call options on the stock. This represents an increase of 4,885% compared to the average daily volume of 59 call options.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pearl River Capital LLC acquired a new stake in shares of Cardiovascular Systems during the first quarter worth $98,000. BerganKDV Wealth Management LLC acquired a new stake in shares of Cardiovascular Systems during the first quarter worth $155,000. Legal & General Group Plc raised its holdings in shares of Cardiovascular Systems by 21.7% during the fourth quarter. Legal & General Group Plc now owns 6,065 shares of the medical device company’s stock worth $173,000 after purchasing an additional 1,082 shares during the period. LS Investment Advisors LLC acquired a new stake in shares of Cardiovascular Systems during the first quarter worth $201,000. Finally, Pura Vida Investments LLC acquired a new stake in shares of Cardiovascular Systems during the fourth quarter worth $227,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on CSII shares. Needham & Company LLC upped their price target on shares of Alteryx to $108.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Bank of America set a $7.00 price target on shares of Deutsche Bank and gave the company a “sell” rating in a report on Thursday, April 11th. Zacks Investment Research cut shares of Genprex from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Finally, BidaskClub cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Cardiovascular Systems presently has an average rating of “Hold” and an average price target of $44.00.

CSII opened at $44.48 on Friday. The firm has a market capitalization of $1.50 billion, a PE ratio of 889.60 and a beta of 1.81. The company has a fifty day moving average of $41.23. The company has a quick ratio of 3.78, a current ratio of 4.25 and a debt-to-equity ratio of 0.15. Cardiovascular Systems has a 12-month low of $24.84 and a 12-month high of $45.61.

Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings results on Wednesday, May 1st. The medical device company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.05. The firm had revenue of $63.31 million for the quarter, compared to analysts’ expectations of $62.80 million. Cardiovascular Systems had a net margin of 0.84% and a return on equity of 1.47%. On average, sell-side analysts predict that Cardiovascular Systems will post -0.01 earnings per share for the current year.

About Cardiovascular Systems

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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