Wall Street analysts expect that Cardiovascular Systems Inc (NASDAQ:CSII) will post $59.16 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Cardiovascular Systems’ earnings. The lowest sales estimate is $58.19 million and the highest is $59.63 million. Cardiovascular Systems posted sales of $52.63 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.4%. The company is scheduled to report its next quarterly earnings report on Wednesday, February 6th.
On average, analysts expect that Cardiovascular Systems will report full-year sales of $244.25 million for the current year, with estimates ranging from $243.96 million to $244.50 million. For the next year, analysts forecast that the firm will report sales of $278.20 million, with estimates ranging from $274.86 million to $280.04 million. Zacks’ sales averages are an average based on a survey of research firms that cover Cardiovascular Systems.
Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings results on Tuesday, October 30th. The medical device company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The firm had revenue of $56.27 million during the quarter, compared to analysts’ expectations of $55.96 million. Cardiovascular Systems had a net margin of 0.36% and a return on equity of 0.62%.
A number of analysts recently issued reports on the company. Lake Street Capital reiterated a “buy” rating and issued a $50.00 price target on shares of Cardiovascular Systems in a report on Wednesday, August 1st. BidaskClub lowered Cardiovascular Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Needham & Company LLC reiterated a “hold” rating on shares of Cardiovascular Systems in a report on Wednesday, October 31st. Stifel Nicolaus started coverage on shares of Cardiovascular Systems in a research note on Wednesday, August 22nd. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.20.
Shares of NASDAQ CSII opened at $32.50 on Wednesday. The company has a quick ratio of 4.03, a current ratio of 4.47 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.06 billion, a P/E ratio of 650.00 and a beta of 2.36. Cardiovascular Systems has a 52-week low of $20.58 and a 52-week high of $40.00.
In other news, General Counsel Alexander Rosenstein sold 1,344 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $37.56, for a total transaction of $50,480.64. Following the transaction, the general counsel now directly owns 49,469 shares of the company’s stock, valued at $1,858,055.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Scott R. Ward purchased 2,500 shares of Cardiovascular Systems stock in a transaction dated Wednesday, August 29th. The shares were acquired at an average cost of $38.39 per share, for a total transaction of $95,975.00. Following the completion of the transaction, the chief executive officer now owns 278,362 shares of the company’s stock, valued at approximately $10,686,317.18. The disclosure for this purchase can be found here. Insiders sold 3,177 shares of company stock valued at $119,274 in the last three months. 2.80% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of CSII. Partner Fund Management L.P. increased its position in shares of Cardiovascular Systems by 49.9% during the second quarter. Partner Fund Management L.P. now owns 1,230,921 shares of the medical device company’s stock worth $39,808,000 after purchasing an additional 409,767 shares in the last quarter. FMR LLC increased its position in shares of Cardiovascular Systems by 187.0% during the second quarter. FMR LLC now owns 516,100 shares of the medical device company’s stock worth $16,690,000 after purchasing an additional 336,300 shares in the last quarter. Millennium Management LLC increased its position in shares of Cardiovascular Systems by 2,442.1% during the second quarter. Millennium Management LLC now owns 290,916 shares of the medical device company’s stock worth $9,408,000 after purchasing an additional 279,472 shares in the last quarter. BlackRock Inc. increased its position in shares of Cardiovascular Systems by 9.3% during the second quarter. BlackRock Inc. now owns 2,479,543 shares of the medical device company’s stock worth $80,188,000 after purchasing an additional 210,128 shares in the last quarter. Finally, Granahan Investment Management Inc. MA increased its position in shares of Cardiovascular Systems by 31.8% during the second quarter. Granahan Investment Management Inc. MA now owns 381,056 shares of the medical device company’s stock worth $12,323,000 after purchasing an additional 92,042 shares in the last quarter. 79.58% of the stock is currently owned by institutional investors and hedge funds.
Cardiovascular Systems Company Profile
Cardiovascular Systems, Inc, a medical device company, develops, manufactures, and commercializes various devices to treat vascular and coronary diseases in the United States. The company offers peripheral arterial disease products, including Diamondback 360 Peripheral, Predator 360, Stealth 360 Peripheral Orbital Atherectomy System (OAS), Diamondback 360 60cm Peripheral OAS, Diamondback 360 Low Profile Peripheral, Diamondback 360 1.50 Peripheral, Diamondback 360 2.00 Peripheral, Diamondback 360 200cm Peripheral, and Diamondback 360 180cm Peripheral, which are catheter-based platforms for treating a range of plaque types in leg arteries above and below the knee, including calcified plaque, as well as address various limitations associated with surgical, catheter, and pharmacological treatment alternatives.
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