Boston, MA 08/15/2014 (wallstreetpr) – Endoscopy products manufacturer Vision-Sciences, Inc. (NASDAQ:VSCI) chairman seems to be taking advantage of the current price in the stock market and lifting his holding in the company through open market purchases.
Buys Shares
The company’s chairman of the board Lewis Pell has resorted to buying Vision-Sciences, Inc. (NASDAQ:VSCI) shares of late. He has purchased shares on August 11, 12 and 13 from the open market. While Lewis had acquired 14,220 shares on August 11 at an average price of 92 cents a share, he had purchased another 16K shares on August 12 at an average cost of 91 cents a share. Similarly, he had acquired another 13.2K shares at an average price of 90 cents a share.
A total of 43,420 shares were purchased by the chairman in the three-day period by spending $39.5K. In the process, he had lifted his holding to 8.618 million shares from 8.589 million shares in a matter of three day’s time.
Buying At Every Dip
From the way the chairman had acquired the shares at an average price of 92 cents, 91 cents and 90 cents respectively in the three-day period he had shopped, it was quite clear that he was ready to buy at every dip in the stock price.
The stock had a 52-week high and low of $1.75 and $0.78 respectively. It meant he had paid 12 cents – 14 cents a share more from the year-low price. However, he had paid 86 cents – 88 cents a share lower than the yearly high price.
In comparison with the 50-day and 200-day moving average prices of $1.08 and $1.21 respectively, the chairman had paid 26 cents – 28 cents a share and 29 cents – 31 cents a share lower than the technically important barometers.
Bets On Pulmonology
Vision-Sciences, Inc. (NASDAQ:VSCI) said recently that it had a robust uptick in its pulmonology line in the first quarter that included the launch of the fresh BRS-5100 video bronchoscope. Its revenue jumped to 365K from $87K in the last year first quarter period. Its Urology, ENT and TNE segments witness a downtick in sales by 5%, 26% and 11% respectively.
