Investors Purchase High Volume of Cardiovascular Systems Call Options (NASDAQ:CSII)

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Cardiovascular Systems Inc (NASDAQ:CSII) was the target of unusually large options trading on Thursday. Investors purchased 755 call options on the stock. This is an increase of 1,298% compared to the typical daily volume of 54 call options.

Shares of CSII stock traded down $0.24 during trading hours on Friday, reaching $50.87. 210,794 shares of the company traded hands, compared to its average volume of 373,793. Cardiovascular Systems has a 12-month low of $24.84 and a 12-month high of $52.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.25 and a quick ratio of 3.83. The company has a market cap of $1.80 billion, a P/E ratio of -5,090.00 and a beta of 1.75. The firm has a 50-day moving average price of $47.29 and a 200 day moving average price of $41.44.

Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.04 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.04. Cardiovascular Systems had a negative return on equity of 0.18% and a negative net margin of 0.10%. The company had revenue of $68.23 million for the quarter, compared to analysts’ expectations of $66.04 million.

A number of research analysts have recently weighed in on CSII shares. BidaskClub cut Cardiovascular Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Stifel Nicolaus cut Cardiovascular Systems from a “buy” rating to a “hold” rating and lifted their price objective for the company from $41.00 to $45.00 in a research report on Tuesday, July 16th. They noted that the move was a valuation call. Needham & Company LLC reaffirmed a “hold” rating on shares of Cardiovascular Systems in a research report on Wednesday, August 7th. Zacks Investment Research cut Cardiovascular Systems from a “hold” rating to a “strong sell” rating and set a $47.00 price objective on the stock. in a research report on Thursday, August 8th. Finally, Lake Street Capital lifted their price objective on Cardiovascular Systems from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Cardiovascular Systems has a consensus rating of “Hold” and an average price target of $48.50.

In other Cardiovascular Systems news, General Counsel Alexander Rosenstein sold 1,136 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $47.04, for a total value of $53,437.44. Following the transaction, the general counsel now directly owns 79,589 shares of the company’s stock, valued at $3,743,866.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sandra Sedo sold 882 shares of Cardiovascular Systems stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $47.06, for a total value of $41,506.92. Following the transaction, the insider now directly owns 51,357 shares in the company, valued at $2,416,860.42. The disclosure for this sale can be found here. Insiders sold 8,326 shares of company stock worth $412,994 over the last three months. Insiders own 2.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stonebridge Capital Advisors LLC purchased a new position in Cardiovascular Systems in the 2nd quarter worth approximately $26,000. Altshuler Shaham Ltd purchased a new position in Cardiovascular Systems in the 2nd quarter worth approximately $28,000. Advisor Group Inc. lifted its holdings in Cardiovascular Systems by 88.8% in the 2nd quarter. Advisor Group Inc. now owns 655 shares of the medical device company’s stock worth $28,000 after purchasing an additional 308 shares in the last quarter. Personal Wealth Partners purchased a new position in Cardiovascular Systems in the 2nd quarter worth approximately $78,000. Finally, BerganKDV Wealth Management LLC purchased a new position in Cardiovascular Systems in the 1st quarter worth approximately $155,000. 90.36% of the stock is currently owned by institutional investors.

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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