Cardiovascular Systems, Inc. (NASDAQ:CSII – Get Rating) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 1,450,000 shares, a growth of 17.9% from the July 15th total of 1,230,000 shares. Based on an average trading volume of 345,500 shares, the short-interest ratio is presently 4.2 days. Approximately 4.3% of the shares of the company are short sold.
Insider Buying and Selling at Cardiovascular Systems
In other news, CFO Jeffrey S. Points purchased 3,000 shares of the firm's stock in a transaction on Friday, May 20th. The stock was bought at an average cost of $14.50 per share, for a total transaction of $43,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 109,312 shares of the company's stock, valued at $1,585,024. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.00% of the company's stock.
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Institutional Investors Weigh In On Cardiovascular Systems
Several hedge funds have recently made changes to their positions in the stock. Signaturefd LLC lifted its stake in Cardiovascular Systems by 8,110.3% during the first quarter. Signaturefd LLC now owns 2,381 shares of the medical device company's stock worth $54,000 after purchasing an additional 2,352 shares during the period. Acadian Asset Management LLC lifted its stake in Cardiovascular Systems by 294.7% during the fourth quarter. Acadian Asset Management LLC now owns 2,684 shares of the medical device company's stock worth $50,000 after purchasing an additional 2,004 shares during the period. PNC Financial Services Group Inc. lifted its stake in Cardiovascular Systems by 32.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,025 shares of the medical device company's stock worth $68,000 after purchasing an additional 735 shares during the period. Nisa Investment Advisors LLC lifted its stake in Cardiovascular Systems by 54.3% during the first quarter. Nisa Investment Advisors LLC now owns 3,495 shares of the medical device company's stock worth $79,000 after purchasing an additional 1,230 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in Cardiovascular Systems during the fourth quarter worth about $74,000. Institutional investors own 91.24% of the company's stock.
Cardiovascular Systems Stock Up 2.1 %
Shares of NASDAQ CSII traded up $0.35 during mid-day trading on Friday, hitting $16.64. The company had a trading volume of 177,636 shares, compared to its average volume of 291,714. The company has a quick ratio of 5.19, a current ratio of 6.05 and a debt-to-equity ratio of 0.08. The business's 50-day simple moving average is $15.20 and its 200-day simple moving average is $17.76. Cardiovascular Systems has a 12 month low of $13.41 and a 12 month high of $38.52.
About Cardiovascular Systems
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Cardiovascular Systems, Inc, a medical device company, develops and commercializes solutions to treat peripheral and coronary artery diseases in the United States and internationally. The company offers peripheral artery disease products, which are catheter-based platforms to treat various plaque types in above and below the knee, including calcified plaque, as well as address various limitations related with surgical, catheter, and pharmacological treatment alternatives; and peripheral support products.
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