Cardiovascular Systems Sees Unusually High Options Volume (NASDAQ:CSII)

Cardiovascular Systems Inc (NASDAQ:CSII) saw some unusual options trading activity on Thursday. Traders purchased 755 call options on the company. This represents an increase of 1,298% compared to the typical volume of 54 call options.

A number of research analysts recently issued reports on CSII shares. Lake Street Capital boosted their target price on shares of Cardiovascular Systems from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of Cardiovascular Systems in a research report on Wednesday, August 7th. BidaskClub downgraded shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Zacks Investment Research downgraded shares of Cardiovascular Systems from a “hold” rating to a “strong sell” rating and set a $47.00 target price for the company. in a research report on Thursday, August 8th. Finally, Stifel Nicolaus downgraded shares of Cardiovascular Systems from a “buy” rating to a “hold” rating and boosted their target price 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. Two research 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 stock. The company currently has a consensus rating of “Hold” and a consensus price target of $48.50.

CSII traded down $0.24 on Friday, reaching $50.87. The stock had a trading volume of 127,250 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 company has a current ratio of 4.25, a quick ratio of 3.83 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $47.35 and its two-hundred day moving average price is $41.52. The company has a market cap of $1.80 billion, a P/E ratio of -5,087.00 and a beta of 1.75.

Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Cardiovascular Systems had a negative net margin of 0.10% and a negative return on equity of 0.18%. The company had revenue of $68.23 million during the quarter, compared to analysts’ expectations of $66.04 million.

In related news, General Counsel Alexander Rosenstein sold 6,308 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $50.42, for a total transaction of $318,049.36. Following the completion of the transaction, the general counsel now directly owns 78,187 shares in the company, valued at $3,942,188.54. The transaction 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 the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $47.06, for a total transaction of $41,506.92. Following the transaction, the insider now owns 51,357 shares of the company’s stock, valued at $2,416,860.42. The disclosure for this sale can be found here. Insiders have sold 8,326 shares of company stock valued at $412,994 over the last 90 days. 2.80% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System increased its holdings in Cardiovascular Systems by 0.6% in the second quarter. Arizona State Retirement System now owns 54,023 shares of the medical device company’s stock valued at $2,319,000 after buying an additional 304 shares in the last quarter. Advisor Group Inc. increased its holdings in Cardiovascular Systems by 88.8% in the second quarter. Advisor Group Inc. now owns 655 shares of the medical device company’s stock valued at $28,000 after buying an additional 308 shares in the last quarter. Stonebridge Capital Advisors LLC purchased a new position in Cardiovascular Systems in the second quarter valued at $26,000. Altshuler Shaham Ltd purchased a new position in Cardiovascular Systems in the second quarter valued at $28,000. Finally, Diversified Trust Co increased its holdings in Cardiovascular Systems by 8.2% in the second quarter. Diversified Trust Co now owns 8,815 shares of the medical device company’s stock valued at $378,000 after buying an additional 665 shares in the last quarter. 90.36% of the stock is 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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