$55.96 Million in Sales Expected for Cardiovascular Systems Inc (CSII) This Quarter

Equities research analysts forecast that Cardiovascular Systems Inc (NASDAQ:CSII) will post sales of $55.96 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Cardiovascular Systems’ earnings. The lowest sales estimate is $55.17 million and the highest is $56.77 million. Cardiovascular Systems posted sales of $49.68 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.6%. The company is expected to issue its next quarterly earnings results 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 fiscal year, analysts anticipate that the business will report sales of $280.95 million, with estimates ranging from $276.85 million to $286.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Cardiovascular Systems.

Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings data 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. Cardiovascular Systems had a return on equity of 1.36% and a net margin of 0.79%. The company had revenue of $59.15 million during the quarter, compared to analyst estimates of $58.43 million.

CSII has been the subject of several recent research reports. Zacks Investment Research lowered Cardiovascular Systems from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 12th. Bank of America raised Cardiovascular Systems from an “underperform” rating to a “buy” rating in a report on Wednesday, June 27th. BidaskClub lowered Cardiovascular Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 28th. Stifel Nicolaus initiated coverage on Cardiovascular Systems in a report on Wednesday, August 22nd. They issued a “buy” rating and a $45.00 price objective for the company. Finally, ValuEngine upgraded Cardiovascular Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 6th. One investment 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. The stock has a consensus rating of “Hold” and an average target price of $35.20.

CSII traded down $0.81 during trading hours on Friday, hitting $36.39. The stock had a trading volume of 257,500 shares, compared to its average volume of 271,342. Cardiovascular Systems has a 1 year low of $20.58 and a 1 year high of $40.00. The firm has a market cap of $1.30 billion, a P/E ratio of 727.80 and a beta of 2.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.03 and a current ratio of 4.47.

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 CSII. Partner Fund Management L.P. boosted its stake in 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 worth $39,808,000 after purchasing an additional 409,767 shares during the period. FMR LLC boosted its stake in Cardiovascular Systems by 187.0% in the 2nd 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 during the period. Millennium Management LLC boosted its position in shares of Cardiovascular Systems by 2,442.1% during the 2nd quarter. Millennium Management LLC now owns 290,916 shares of the medical device company’s stock valued at $9,408,000 after acquiring an additional 279,472 shares during the last quarter. BlackRock Inc. boosted its position in shares of Cardiovascular Systems by 9.3% during 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 during the last quarter. Finally, Granahan Investment Management Inc. MA boosted its position in shares of Cardiovascular Systems by 31.8% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 381,056 shares of the medical device company’s stock valued at $12,323,000 after acquiring an additional 92,042 shares during the last quarter. Institutional investors and hedge funds own 79.23% of the company’s stock.

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.

Further Reading: Short Selling Stocks and Day Traders

Get a free copy of the Zacks research report on Cardiovascular Systems (CSII)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cardiovascular Systems (NASDAQ:CSII)

Receive News & Ratings for Cardiovascular Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardiovascular Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply