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Why Cardiovascular Systems Stock Is Soaring Today

TheMotleyFool

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Why Cardiovascular Systems Stock Is Soaring Today: https://g.foolcdn.com/editorial/images/720097/cardio.jpg

Shares of Cardiovascular Systems (NASDAQ: CSII) are up big today. Specifically, the medical technology company's stock is up by a noteworthy 48.7% as of 10:44 a.m. ET Thursday morning.

Cardiovascular Systems' stock is jumping in response to a buyout agreement with Abbott Laboratories (NYSE: ABT). Per the terms of the deal, Abbott has agreed to pay $20 per share for Cardiovascular Systems for a total deal value of approximately $890 million.

Image source: Getty Images.

Source Fool.com

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