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Weekly CFO Buy Highlight: CARDICA, NewBridge Bancorp, WESCO International, PrivateBancorp Inc., Synovus Financial, CARDIOVASCULAR SYSTEMS, Scientific Games Corp
Posted by: guruek (IP Logged)
Date: November 7, 2009 04:28PM

According to GuruFocus Insider Data, these are the largest CFO buys during the past week.

CARDICA, INC. (CRDC): V.P. Finance, CFO, Secretary Robert Y Iv Newell Bought 16,000 Shares

V.P. Finance, CFO, Secretary of CARDICA, INC. (CRDC) Robert Y Iv Newell bought 16,000 shares on 11/03/2009 at an average price of $1.14. Cardica Inc. designs and manufactures proprietary automated anastomotic systems used by surgeons to perform coronary artery bypass graft surgery. In these surgery procedures veins or arteries are used to construct alternative conduits to restore blood flow beyond narrowed or occluded portions of coronary arteries bypassing the narrowed or occluded portion of the artery that is impairing blood flow to the heart muscle. Our first two products the C-Port Distal Anastomosis System and the PAS-Port Proximal Anastomosis System provide cardiovascular surgeons with easy-to-use automated systems to perform consistent rapid and reliable connections or anastomoses of the vessels which surgeons generally view as the most critical aspect of the bypass procedure. Cardica, Inc. has a market cap of $17.9 million; its shares were traded at around $1.13 with and P/S ratio of 1.7.

Cardica, Inc. reported financial results for its fiscal 2010 first quarter ended September 30, 2009. Total net revenue was $0.9 million for the fiscal 2010 first quarter, compared to $2.1 million for the same period of fiscal 2009. The net loss for the fiscal 2010 first quarter decreased to $2.7 million, or$0.17 per share, compared to a net loss of $5.2 million, or $0.33 per share, for the fiscal 2009 first quarter.

CRDC is in the portfolios of PRIMECAP Management.

Buy:: Pres.,CEO,Chief Med. Officer Bernard A Hausen bought 19,960 shares of CRDC stock on 09/30/2009 at the average price of 1.25, the price of the stock has decreased by 9.6% since. Buy:: Director, 10% Owner William H Jr Younger bought 399,201 shares of CRDC stock on 09/30/2009 at the average price of 1.25, the price of the stock has decreased by 9.6% since. Buy:: Director John Simon bought 399,202 shares of CRDC stock on 09/30/2009 at the average price of 1.25, the price of the stock has decreased by 9.6% since. Buy:: VP Operations & Manufacturing Frederick M Bauer bought 7,984 shares of CRDC stock on 09/30/2009 at the average price of 1.25, the price of the stock has decreased by 9.6% since. Buy:: V.P. Research & Development Bryan D Knodel bought 179,641 shares of CRDC stock on 09/30/2009 at the average price of 1.25, the price of the stock has decreased by 9.6% since.

NewBridge Bancorp (NBBC): EVP and CFO Ramsey K Hamadi Bought 14,100 Shares

EVP and CFO of NewBridge Bancorp (NBBC) Ramsey K Hamadi bought 14,100 shares on 11/05/2009 at an average price of $2.5. LSB Bancshares Inc. is a bank holding company whose principal business is providing banking and other financial services through its banking subsidiary. LSB Bancshares is the parent holding company of Lexington State Bank. Newbridge Bancorp has a market cap of $35.6 million; its shares were traded at around $2.2801 with and P/S ratio of 0.3.

NewBridge Bancorp recently reported financial results for the three and nine month periods ended September 30, 2009. For the three months ended September 30, 2009, net loss was $5.7 million and net loss available to common shareholders was $6.4 million, or $0.41 per diluted share, compared to net loss of $1.6 million, or $0.10 per diluted share, in the third quarter of 2008.

Buy:: Director Joseph H Kinnarney bought 2,200 shares of NBBC stock on 10/30/2009 at the average price of 2.5, the price of the stock has decreased by 8.8% since. Buy:: Director Elizabeth S Ward bought 2,000 shares of NBBC stock on 10/30/2009 at the average price of 2.5, the price of the stock has decreased by 8.8% since. Buy:: Director James David Branch bought 1,900 shares of NBBC stock on 10/30/2009 at the average price of 2.5, the price of the stock has decreased by 8.8% since. Buy:: Director John F Watts bought 2,500 shares of NBBC stock on 10/30/2009 at the average price of 2.5, the price of the stock has decreased by 8.8% since. Buy:: Director Julius S Jr Young bought 2,300 shares of NBBC stock on 10/30/2009 at the average price of 2.5, the price of the stock has decreased by 8.8% since.

WESCO International Inc. (WCC): CFO Richard Heyse Bought 12,000 Shares

CFO of WESCO International Inc. (WCC) Richard Heyse bought 12,000 shares on 10/28/2009 at an average price of $25.95. Wesco International Inc. is a leading provider of electrical products and other industrial MRO supplies and services in North America. The company is also a provider of Integrated Supply services. Their Integrated Supply solutions and outsourcing services fulfill all of a customer's industrial MRO procurement needs through a highly automated proprietary electronic procurement and inventory replenishment system. Wesco International Inc. has a market cap of $1.14 billion; its shares were traded at around $26.92 with a P/E ratio of 9.1 and P/S ratio of 0.2. Wesco International Inc. had an annual average earning growth of 40.2% over the past 5 years

WESCO International Inc. recently reported financial results for the third quarter 2009 ended September 30, 2009. Consolidated net sales for the quarter were $1,152.4 million compared to $1,682.1 million in the third quarter of 2008, a decline of 29.2%, including a 0.7% negative impact from foreign exchange rates. Net income for the quarter was $33.6 million compared to $63.7 million for the comparable quarter in 2008. Diluted earnings per share were $0.79 based on 42.8 million shares compared to $1.48 with 43.1 million shares in the third quarter of 2008.

WCC is in the portfolios of Ronald Muhlenkamp of Muhlenkamp Fund, Richard Snow of Snow Capital Management, L.P., Richard Snow of Snow Capital Management, L.P., NWQ Managers of NWQ Investment Management Co.

Buy:: CFO Richard Heyse bought 12,000 shares of WCC stock on 10/28/2009 at the average price of 25.95, the price of the stock has increased by 3.74% since.

PrivateBancorp Inc. (PVTB): CFO Kevin M Killips Bought 10,000 Shares

CFO of PrivateBancorp Inc. (PVTB) Kevin M Killips bought 10,000 shares on 10/30/2009 at an average price of $9.23. PRIVATEBANCORP is a bank holding company for The PrivateBank and Trust Company. Privatebancorp Inc. has a market cap of $479.9 million; its shares were traded at around $10.1 with and P/S ratio of 1. The dividend yield of Privatebancorp Inc. stocks is 0.5%. Privatebancorp Inc. had an annual average earning growth of 5.9% over the past 5 years.

PVTB is in the portfolios of John Rogers of ARIEL CAPITAL MANAGEMENT LLC, John Keeley of Keeley Fund Management.



PrivateBancorp, Inc. recently reported a net loss of $31.2 million, or $0.68 per diluted share, for the third quarter ended September 30, 2009, compared with a net loss of $7.8 million, or $0.25 per diluted share, for the third quarter 2008. Net revenue grew 6 percent over the second quarter to $101.2 million, including $11.5 million from the Founders Bank transaction, from $95.8 million and net interest margin grew 10 basis points to 3.09 percent.

Buy:: President and CEO Larry D. Richman bought 26,000 shares of PVTB stock on 10/30/2009 at the average price of 9.28, the price of the stock has increased by 8.84% since. Buy:: CEO - The PrivateWealth Group Wallace L Head bought 5,000 shares of PVTB stock on 10/29/2009 at the average price of 9.2, the price of the stock has increased by 9.78% since. Buy:: Director William R Rybak bought 10,550 shares of PVTB stock on 11/05/2009 at the average price of 9.4, the price of the stock has increased by 7.45% since. Buy:: Director, 10% Owner Fund Ix/a L P Gtcr bought 3,532,079 shares of PVTB stock on 11/02/2009 at the average price of 8.5, the price of the stock has increased by 18.82% since. Buy:: Director, 10% Owner Fund Ix/b L P Gtcr bought 588,915 shares of PVTB stock on 11/02/2009 at the average price of 8.5, the price of the stock has increased by 18.82% since. Buy:: Director, 10% Owner Co Invest Iii L P Gtcr bought 26,586 shares of PVTB stock on 11/02/2009 at the average price of 8.5, the price of the stock has increased by 18.82% since. Buy:: Director, 10% Owner Collin E Roche bought 4,147,580 shares of PVTB stock on 11/02/2009 at the average price of 8.5, the price of the stock has increased by 18.82% since.

Synovus Financial Corp. (SNV): EVP and CFO Thomas J Prescott Bought 10,000 Shares

EVP and CFO of Synovus Financial Corp. (SNV) Thomas J Prescott bought 10,000 shares on 11/05/2009 at an average price of $1.91. Synovus Financial Corp. is engaged in two reportable business segments: banking which is primarily involved in commercial banking activities and also provides retail banking trust services mortgage banking securities brokerage and insurance services and transaction processing which includes credit debit commercial and retail card processing and related services and debt collection and bankruptcy management services. Synovus Financial Corp. has a market cap of $1.02 billion; its shares were traded at around $2.12 with and P/S ratio of 0.4. The dividend yield of Synovus Financial Corp. stocks is 1.9%. Synovus Financial Corp. had an annual average earning growth of 10.4% over the past 10 years. GuruFocus rated Synovus Financial Corp. the business predictability rank of 2.5-star.

Synovus Financial Corp. recently announced its results of operations for the third quarter of 2009. The net loss for the third quarter of 2009 was $423.7 million, or $1.27 per common share.

Buy:: Director Richard Y Bradley bought 10,000 shares of SNV stock on 10/28/2009 at the average price of 1.92, the price of the stock has increased by 10.42% since. Buy:: Director H Lynn Page bought 30,000 shares of SNV stock on 10/27/2009 at the average price of 2.55, the price of the stock has decreased by 16.86% since. Buy:: Director James H Blanchard bought 15,000 shares of SNV stock on 09/22/2009 at the average price of 4, the price of the stock has decreased by 47% since. Buy:: Director T Michael Goodrich bought 62,500 shares of SNV stock on 09/22/2009 at the average price of 4, the price of the stock has decreased by 47% since. Buy:: Director J Neal Purcell bought 10,000 shares of SNV stock on 09/22/2009 at the average price of 4, the price of the stock has decreased by 47% since.

CARDIOVASCULAR SYSTEMS, INC. (CSII): CFO Laurence L Betterley Bought 7,500 Shares

CFO of CARDIOVASCULAR SYSTEMS, INC. (CSII) Laurence L Betterley bought 7,500 shares on 11/06/2009 at an average price of $4.15. Cardiovascular Systems Inc. formerly known as Replidyne Inc. is headquartered in Saint Paul Minnesota. It is a medical device company focusing on developing and commercializing interventional treatment systems for vascular disease. Its initial product the Diamondback 360? Orbital Atherectomy System is a minimally invasive catheter system for the treatment of peripheral arterial disease; and a range of plaque types including calcified vessel lesions. The Diamondback 360? removes soft and calcified plaque in plaque-lined vessels through the orbital rotation of a diamond grit coated offset crown. The company refined its `orbital` technology to address the growing market need of providing a safer more effective atherectomy device. Cardiovascular Systems, Inc. has a market cap of $62.5 million; its shares were traded at around $4.28 with and P/S ratio of 1.2.

CSII is in the portfolios of Lee Ainslie of Maverick Capital, George Soros of Soros Fund Management LLC.

Buy:: Director John H Friedman bought 8,000 shares of CSII stock on 11/06/2009 at the average price of 4.06, the price of the stock has increased by 5.42% since. Buy:: Director Brent G Blackey bought 10,000 shares of CSII stock on 11/06/2009 at the average price of 4.13, the price of the stock has increased by 3.63% since. Sell:: VP of Business Dev Paul A Tyska sold 3,766 shares of CSII stock on 08/21/2009 at the average price of 8.5, the price of the stock has decreased by 49.65% since.

Scientific Games Corp (SGMS): VP & CFO Jeff S Lipkin Bought 5,000 Shares

VP & CFO of Scientific Games Corp (SGMS) Jeff S Lipkin bought 5,000 shares on 10/30/2009 at an average price of $14.03. Scientific Games Corporation is the leading integrated supplier of instant tickets systems and services to lotteries and the leading supplier of wagering systems and services to pari-mutuel operators. It is also a licensed pari-mutuel gaming operator in Connecticut and the Netherlands and is a leading supplier of prepaid phone cards to telephone companies. Scientific Games' customers are in the United States and more than 60 other countries. Scientific Games Corp has a market cap of $1.39 billion; its shares were traded at around $14.98 with a P/E ratio of 22.7 and P/S ratio of 1.2. Scientific Games Corp had an annual average earning growth of 4.1% over the past 5 years.

Scientific Games Corp recently announced fiscal results for the third quarter 2009. Total revenue in the third quarter of 2009 was $239.1 million from $291.9 million a year earlier. Net income in the third quarter of 2009 was $15.1 million, or $0.16 per diluted share, compared to $22.2 million, or $0.23 per diluted share, in the third quarter of 2008. 

SGMS is in the portfolios of Ron Baron of Baron Funds.

Buy:: CEO Joseph R Jr Wright bought 10,000 shares of SGMS stock on 10/30/2009 at the average price of 13.98, the price of the stock has increased by 7.15% since. Buy:: Director Barry F Schwartz bought 10,000 shares of SGMS stock on 10/30/2009 at the average price of 14.18, the price of the stock has increased by 5.64% since. Buy:: Director David L Kennedy bought 10,000 shares of SGMS stock on 10/30/2009 at the average price of 13.76, the price of the stock has increased by 8.87% since. Buy:: President & COO Michael R. Chambrello bought 5,000 shares of SGMS stock on 10/30/2009 at the average price of 13.96, the price of the stock has increased by 7.31% since.

For the complete list of stocks that bought by their CFOs, go to: Insider Buys.


Stocks Discussed: CRDC, NBBC, WCC, PVTB, SNV, CSII, SGMS,
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