• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
    • Cardiovascular
    • Orthopedics
  • Wall Street Beat
    • Funding Roundup
    • Mergers & Acquisitions
  • Podcasts
    • DeviceTalks Weekly
  • Resources
    • About MassDevice
    • Newsletter Signup
    • Job Board
    • Leadership in Medtech
    • Manufacturer Search
    • MedTech 100 Index
    • Videos
    • Whitepapers
  • DeviceTalks Tuesdays
    • DeviceTalks
  • Coronavirus: Live updates
Home » Cardiovascular Systems prices $33M offering | Wall Street Beat

Cardiovascular Systems prices $33M offering | Wall Street Beat

March 20, 2013 By Brad Perriello

MassDevice.com Wall Street Beat

Cardiovascular Systems (NSDQ:CSII) priced a public offering of some 2 million shares of CSII stock at $17.60 apiece, saying it expects to net about $33 million from the deal.

The St. Paul, Minn.-based medical device company has said it plans to use the proceeds for working capital and general corporate purposes, which is likely to include backing for its ORBIT II clinical trial of its atherectomy device.

CSII shares jumped nearly 18% last week after the company revealed what 1 analyst called "convincingly positive" 30-day data from the ORBIT II study.

Sign up to get our free newsletters delivered straight to your inbox

The offering includes a 30-day over-allotment option of 300,000 shares for the underwriters, according to a press release.

CSII shares were trading at $18.62 each as of about 12:50 p.m. today, up 4.8%.

 Sleep coach Zeo Inc. to shut down?
Newton, Massachusetts-based sleep monitoring and coaching company Zeo is closing up shop and seeking a buyer, according to mobihealthnews.
Read more

 Imaging Acquisition picks up LumeGEM molecular breast imaging biz out of bankruptcy
Psilos Group’s Imaging Acquisition Inc. said it’s acquired the LumaGEM molecular breast imaging business of Gamma Medica Inc. in a Chapter 11 bankruptcy sale.
Read more

 Kips Bay regains NASDAQ’s good graces
Kips Bay Medical (NSDQ:KIPS) said it’s back in the NASDAQ stock exchange’s good graces now that its share price has been above $1 apiece for 10 consecutive business days. The exchange warning the company last month of a possible delisting if it couldn’t get its share price above the $1 minimum requirement.
Read more

 US HIFU changes name to SonaCare Medical
US HIFU LLC said it’s changed its name to SonaCare Medical "to better align with our strategic vision of expanding our current HIFU technology to treat a range of urological indications," according to CEO Michael Klein.
Read more

 Analysts’ ups and downs

  • Abbott (NYSE:ABT): Deutsche Bank maintains “hold” rating.
  • Cardinal Health (NYSE:CAH): Goldman Sachs reiterates "neutral" rating, lowers price target from $50 to $48; ISI Group downgrades from "strong buy" to "buy" rating, lowers price target from $50.50 to $48.50; Morgan Stanley reiterates "overweight" rating, lowers price target from $54 to $48.
  • Delcath (NSDQ:DCTH): Wedbush maintains "outperform" rating, lowers price target from $9.55 to $5.
  • Echo Therapeutics (NSDQ:ECTE): LifeTech Capital reiterates "strong speculative buy" rating, lowers price target from $5 to $3.75.
  • Endo Health (NSDQ:ENDP): Bank of America reiterates $33 price target, “buy” rating.
  • ICU Medical (NSDQ:ICUI): Benchmark Co. reiterates "buy" rating, $69 price target.
  • Intuitive Surgical (NSDQ:ISRG): Lazard maintains "buy" rating, $625 price target.
  • McKesson (NYSE:MCK): Goldman Sachs reiterates "buy" rating, lowers price target from $124 to $122.
  • NuVasive Inc. (NSDQ:NUVA): TheStreet upgrades from "sell" to "hold" rating.
  • Opko (NYSE:OPK): Jefferies reiterates "buy" rating, raises price target from $8 to $9.
  • Optos plc (LON:OPTS): Singer cuts Optos to "sell" to "hold" rating, maintains 172p price target.
  • Smith & Nephew (FTSE:SN, NYSE:SNN): Morgan Stanley raises price target from $10.39 to $10.98, maintains “equal weight” rating.
  • Steris (NYSE:STE): Bank of America reiterates "buy" rating, raises price target from $42 to $43.
  • Vascular Solutions (NSDQ:VASC): Benchmark Co. reiterates "hold" rating, $17 price target; Canaccord Genuity reiterates "buy" rating, $20.50 price target
  • .

Filed Under: Cardiovascular, Funding Roundup, News Well, Wall Street Beat Tagged With: Cardiovascular Systems Inc., Gamma Medica, Imaging Acquisitions, Kips Bay Medical Inc., Minnesota, SonaCare Medical, US HIFU, Zeo Inc.

In case you missed it

  • Annual COVID-19 vaccines likely, according to Pfizer CEO
  • Medtronic has another serious HVAD recall
  • Vicarious Surgical to go public in $1.1B SPAC deal
  • Analysts are bullish on Align Technology
  • Trice Medical raises more than $10M
  • FDA clears Acutus Medical suite of universal transseptal crossing devices
  • Mayo Clinic helps launch two new companies for improved diagnostics
  • HHS shoots down ‘flawed’ plan to let some devices skip review
  • Solo-Dex launches peripheral nerve block catheter
  • BD lands FDA clearance for hemodialysis catheter
  • Siemens Healthineers completes Varian acquisition
  • Thermo Fisher to buy PPD for $17B
  • Vaccine panel postpones vote on J&J COVID-19 vaccine
  • Innocoll Biotherapeutics initiates Phase 3 trials for collagen drug-device
  • More than 50 medtech testing sites win FDA pilot accreditation
  • EU won’t renew J&J, AstraZeneca vaccine contracts, report says
  • Better Therapeutics initiates real-world study for digital therapeutic for diabetes

RSS From Medical Design & Outsourcing

  • Greenlight Guru to provide QMS to NIH diagnostics program
    NIH has chosen Greenlight Guru to provide quality management software for its COVID-19 rapid diagnostics program. The agency launched the Rapid Acceleration of Diagnostics (RADx) program in March 2020 to speed the development, commercialization and implementation COVID-19 testing technologies. As the only QMS provider currently available to all projects in the RADx program, Greenlight Guru… […]
  • MicroCare names CFO
    MicroCare (New Britain, Conn.) has announced the appointment of John Stardellis as the company’s new chief financial officer (CFO). Stardellis joins MicroCare with more than 20 years’ experience in a variety of finance, policy and operational leadership roles. Most recently, he served as CFO at i-Health, a division of DSM Nutritional Products. “John’s track record with… […]
  • Mayo Clinic helps launch two new companies for improved diagnostics
    Mayo Clinic announced that it is introducing a new technology platform to support two new companies it has launched. Rochester, Minn.–based Mayo Clinic’s Remote Diagnostics & Management Platform (RDMP) is designed to connect data with new AI algorithms and augment human decision-making within existing clinical workflows, according to a news release. Get the full story… […]
  • Intertek gains FDA nod for premarket device testing
    Intertek has won accreditation under an FDA pilot program for testing laboratories, the company said this week. The accreditation authorizes Intertek’s 12 “medical centers of excellence” to perform premarket testing of devices for the U.S. market. The Accreditation Scheme for Conformity Assessment pilot program is a voluntary program developed to provide increased confidence in testing… […]
  • HHS shoots down ‘flawed’ plan to let some devices skip review
    The Biden administration has nixed what it described as a “flawed” Trump-era decision to exempt certain medical devices — including infusion pump controllers and fetal monitors — from regulatory review. HHS published the original notice in the Federal Register on Jan. 15, shortly before President Joe Biden was set to take office, without speaking with… […]
  • More than 50 medtech testing sites win FDA pilot accreditation
    The FDA announced today that more than 50 laboratory sites were chosen to participate in its program for streamlined regulatory reviews. In total, 53 sites made the FDA’s initial list for participation in its Accreditation Scheme for Conformity Assessment (ASCA) program, which will set out to support more streamlined regulatory reviews of medical device market… […]
  • Medline Industries up for sale?
    Medline Industries is looking for a buyer in a deal that could be worth $30 billion, according to a report in the Wall Street Journal. The Journal cites “people familiar with the matter” saying that Northfield, Ill.-based Medline has hired Goldman Sachs to manage the process. The people added that the company might alternatively seek… […]
  • Micro to add plant in Costa Rica
    Contract manufacturer Micro today announced plans to open a new plant in Costa Rica. The 32,000 ft² facility will significantly increase Micro’s cleanroom assembly capacity, according to the Somerset, N.J.-based company. It will be located in the Zona Franca Metro business park and is expected to open in late 2021 with operations beginning in 2022.… […]
  • Survey shows solid medical device industry performance despite pandemic
    By Stewart Eisenhart, Emergo Group Medical device and IVD manufacturers report healthy performance over the course of 2020, but also faced significant operational and regulatory challenges related to the coronavirus pandemic. Get the full story here at the Emergo Group’s blog. The opinions expressed in this blog post are the author’s only and do not… […]
  • Cardinal Health wins $58M federal PPE contract
    Cardinal Health (NYSE: CAH) today said it has won a $57.8 million contract from the U.S. Dept. of Health and Human Services to support the Strategic National Stockpile. The Dublin, Ohio-based company received the contract, which includes options that if exercised by the HHS could reach $91.6 million, to store and distribute 80,000 pallets of… […]
  • Qosina adds single-use bioprocessing devices
    Qosina this week launched its product line for the single-use bioprocess industry. The new product line includes tube-to-tube bard connectors, luer fittings, check valves, tubing pinch clamps, tubing, steam thru connectors and more. Get the full story on our sister site, Medical Tubing + Extrusion. The post Qosina adds single-use bioprocessing devices appeared first on […]

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Need Medtech news in a minute?
We Deliver!

MassDevice Enewsletters get you caught up on all the mission critical news you need in med tech. Sign up today.

Tweets by @MassDevice
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion

MASSDEVICE

Subscribe to MassDevice
Advertise with us
About
Contact us

Add us on Facebook Follow us on Twitter Connect with us on LinkedIn Follow us on YouTube

Copyright © 2021 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Advertise | Privacy Policy | RSS