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

In related news, insider Sandra Sedo sold 882 shares of the 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 completion of 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Alexander Rosenstein sold 6,308 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,942,188.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,326 shares of company stock valued at $412,994. 2.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stonebridge Capital Advisors LLC bought a new stake in Cardiovascular Systems in the second quarter worth about $26,000. Altshuler Shaham Ltd purchased a new position in shares of Cardiovascular Systems during the second quarter worth approximately $28,000. Advisor Group Inc. increased its position in shares of Cardiovascular Systems by 88.8% during the second quarter. Advisor Group Inc. now owns 655 shares of the medical device company’s stock worth $28,000 after acquiring an additional 308 shares during the period. Personal Wealth Partners purchased a new position in shares of Cardiovascular Systems during the second quarter worth approximately $78,000. Finally, BerganKDV Wealth Management LLC purchased a new position in shares of Cardiovascular Systems during the first quarter worth approximately $155,000. 90.36% of the stock is owned by institutional investors and hedge funds.

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

NASDAQ CSII traded down $0.24 during trading on Friday, hitting $50.87. The stock had a trading volume of 127,250 shares, compared to its average volume of 373,793. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.83 and a current ratio of 4.25. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -5,087.00 and a beta of 1.75. Cardiovascular Systems has a one year low of $24.84 and a one year high of $52.13. The stock has a 50 day simple moving average of $47.35 and a 200 day simple moving average of $41.52.

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

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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