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

Cardiovascular Systems Inc (NASDAQ:CSII) saw some unusual options trading on Thursday. Investors bought 755 call options on the stock. This is an increase of approximately 1,298% compared to the typical daily volume of 54 call options.

Shares of CSII stock traded down $0.24 during mid-day trading on Friday, hitting $50.87. The stock had a trading volume of 210,794 shares, 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 firm has a market capitalization of $1.80 billion, a P/E ratio of -5,090.00 and a beta of 1.75. The firm’s 50-day moving average is $47.29 and its two-hundred day moving average is $41.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.25 and a quick ratio of 3.83.

Cardiovascular Systems (NASDAQ:CSII) last issued its earnings results on Tuesday, August 6th. The medical device company reported $0.04 earnings per share for the quarter, hitting the Thomson Reuters’ 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 business had revenue of $68.23 million during the quarter, compared to analysts’ expectations of $66.04 million.

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

Several hedge funds have recently modified their holdings of CSII. BNP Paribas Arbitrage SA lifted its holdings in shares of Cardiovascular Systems by 950.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,781 shares of the medical device company’s stock worth $301,000 after buying an additional 7,040 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Cardiovascular Systems in the 1st quarter worth $402,000. Janus Henderson Group PLC purchased a new stake in shares of Cardiovascular Systems in the 1st quarter worth $232,000. Rhumbline Advisers lifted its holdings in shares of Cardiovascular Systems by 129.4% in the 1st quarter. Rhumbline Advisers now owns 101,133 shares of the medical device company’s stock worth $3,910,000 after buying an additional 57,041 shares during the period. Finally, Comerica Bank purchased a new stake in shares of Cardiovascular Systems in the 1st quarter worth $1,307,000. Institutional investors and hedge funds own 90.36% of the company’s stock.

Several equities analysts have commented on the company. Lake Street Capital upped 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. BidaskClub downgraded Cardiovascular Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Stifel Nicolaus downgraded Cardiovascular Systems from a “buy” rating to a “hold” rating and upped 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. Zacks Investment Research downgraded 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, Needham & Company LLC reiterated a “hold” rating on shares of Cardiovascular Systems in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $48.50.

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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