Analysts predict that Cardiovascular Systems Inc (NASDAQ:CSII) will announce $62.64 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Cardiovascular Systems’ earnings. The lowest sales estimate is $62.15 million and the highest is $63.00 million. Cardiovascular Systems reported sales of $55.59 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.7%. The firm is scheduled to report its next quarterly earnings results after the market closes on Wednesday, May 1st.
According to Zacks, analysts expect that Cardiovascular Systems will report full year sales of $245.24 million for the current year, with estimates ranging from $243.96 million to $246.80 million. For the next year, analysts forecast that the company will post sales of $277.68 million, with estimates ranging from $274.86 million to $279.70 million. Zacks’ sales calculations are an average based on a survey of research analysts that follow Cardiovascular Systems.
Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings results on Wednesday, January 30th. The medical device company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. Cardiovascular Systems had a net margin of 0.74% and a return on equity of 1.28%. The firm had revenue of $60.21 million for the quarter, compared to analyst estimates of $59.66 million.
CSII has been the topic of several recent research reports. Bank of America lowered shares of Cardiovascular Systems from a “buy” rating to an “underperform” rating and set a $42.00 price target on the stock. in a research note on Thursday, April 11th. They noted that the move was a valuation call. BidaskClub lowered shares of Cardiovascular Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 4th. Zacks Investment Research upgraded shares of Cardiovascular Systems from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Thursday, April 18th. Finally, ValuEngine upgraded shares of Cardiovascular Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $44.00.
Several institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. increased its stake in shares of Cardiovascular Systems by 1.5% during the 4th quarter. Prudential Financial Inc. now owns 32,495 shares of the medical device company’s stock worth $926,000 after purchasing an additional 471 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Cardiovascular Systems by 0.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 139,721 shares of the medical device company’s stock worth $3,980,000 after purchasing an additional 523 shares during the last quarter. American International Group Inc. increased its stake in shares of Cardiovascular Systems by 3.6% during the 4th quarter. American International Group Inc. now owns 22,304 shares of the medical device company’s stock worth $635,000 after purchasing an additional 765 shares during the last quarter. NJ State Employees Deferred Compensation Plan grew its stake in Cardiovascular Systems by 11.1% in the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 10,000 shares of the medical device company’s stock valued at $285,000 after buying an additional 1,000 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Cardiovascular Systems by 21.7% in the 4th quarter. Legal & General Group Plc now owns 6,065 shares of the medical device company’s stock valued at $173,000 after buying an additional 1,082 shares during the last quarter. Institutional investors own 84.54% of the company’s stock.
CSII stock traded up $0.29 during midday trading on Wednesday, hitting $35.10. The company’s stock had a trading volume of 225,196 shares, compared to its average volume of 471,614. The company has a current ratio of 4.38, a quick ratio of 3.88 and a debt-to-equity ratio of 0.15. Cardiovascular Systems has a twelve month low of $21.88 and a twelve month high of $42.64. The firm has a market capitalization of $1.21 billion, a P/E ratio of 702.00 and a beta of 2.16.
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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