Equities research analysts predict that Cardiovascular Systems Inc (NASDAQ:CSII) will report sales of $55.96 million for the current quarter, according to Zacks. Four analysts have made estimates for Cardiovascular Systems’ earnings, with the highest sales estimate coming in at $56.77 million and the lowest estimate coming in at $55.17 million. Cardiovascular Systems reported sales of $49.68 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.6%. The firm is expected to announce its next earnings report after the market closes on Tuesday, October 30th.
On average, analysts expect that Cardiovascular Systems will report full year sales of $244.23 million for the current year, with estimates ranging from $243.60 million to $244.89 million. For the next financial year, analysts expect that the business will post sales of $280.95 million, with estimates ranging from $276.85 million to $286.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Cardiovascular Systems.
Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings results on Monday, July 30th. The medical device company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $59.15 million during the quarter, compared to the consensus estimate of $58.43 million. Cardiovascular Systems had a return on equity of 1.36% and a net margin of 0.79%.
Several research analysts have recently weighed in on CSII shares. ValuEngine upgraded Cardiovascular Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 6th. BidaskClub downgraded Cardiovascular Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 28th. Bank of America upgraded Cardiovascular Systems from an “underperform” rating to a “buy” rating in a research note on Wednesday, June 27th. Lake Street Capital reiterated a “buy” rating and set a $50.00 price target on shares of Cardiovascular Systems in a research note on Wednesday, August 1st. Finally, Stifel Nicolaus started coverage on Cardiovascular Systems in a research note on Wednesday, August 22nd. They set a “buy” rating and a $45.00 price target for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Cardiovascular Systems has an average rating of “Hold” and a consensus target price of $35.20.
In other Cardiovascular Systems news, insider Sandra Sedo sold 862 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $37.52, for a total value of $32,342.24. Following the completion of the transaction, the insider now owns 22,634 shares in the company, valued at approximately $849,227.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey S. Points sold 971 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $37.54, for a total value of $36,451.34. Following the completion of the transaction, the chief financial officer now owns 23,229 shares of the company’s stock, valued at approximately $872,016.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,177 shares of company stock valued at $119,274. 2.80% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Cardiovascular Systems by 9.3% in the 2nd quarter. BlackRock Inc. now owns 2,479,543 shares of the medical device company’s stock valued at $80,188,000 after acquiring an additional 210,128 shares in the last quarter. Partner Fund Management L.P. raised its holdings in shares of Cardiovascular Systems by 49.9% in the 2nd quarter. Partner Fund Management L.P. now owns 1,230,921 shares of the medical device company’s stock valued at $39,808,000 after acquiring an additional 409,767 shares in the last quarter. FMR LLC raised its holdings in shares of Cardiovascular Systems by 187.0% in the 2nd quarter. FMR LLC now owns 516,100 shares of the medical device company’s stock valued at $16,690,000 after acquiring an additional 336,300 shares in the last quarter. First Light Asset Management LLC raised its holdings in shares of Cardiovascular Systems by 3.7% in the 2nd quarter. First Light Asset Management LLC now owns 487,207 shares of the medical device company’s stock valued at $15,756,000 after acquiring an additional 17,520 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Cardiovascular Systems by 21.9% in the 1st quarter. Point72 Asset Management L.P. now owns 447,300 shares of the medical device company’s stock valued at $9,809,000 after acquiring an additional 80,300 shares in the last quarter. Institutional investors and hedge funds own 79.23% of the company’s stock.
Shares of CSII stock traded down $0.81 on Friday, hitting $36.39. 257,500 shares of the stock were exchanged, compared to its average volume of 271,342. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.03 and a current ratio of 4.47. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 727.80 and a beta of 2.49. Cardiovascular Systems has a one year low of $20.58 and a one year high of $40.00.
About Cardiovascular Systems
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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