Zacks: Brokerages Expect Cardiovascular Systems Inc (NASDAQ:CSII) Will Post Earnings of -$0.03 Per Share

Wall Street brokerages expect Cardiovascular Systems Inc (NASDAQ:CSII) to announce earnings per share of ($0.03) for the current quarter, according to Zacks. Four analysts have made estimates for Cardiovascular Systems’ earnings. The highest EPS estimate is $0.00 and the lowest is ($0.05). Cardiovascular Systems reported earnings per share of $0.01 during the same quarter last year, which would suggest a negative year over year growth rate of 400%. The business is expected to issue its next quarterly earnings results on Wednesday, January 29th.

On average, analysts expect that Cardiovascular Systems will report full-year earnings of ($0.06) per share for the current financial year, with EPS estimates ranging from ($0.07) to ($0.04). For the next year, analysts expect that the business will report earnings of $0.18 per share, with EPS estimates ranging from $0.14 to $0.24. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Cardiovascular Systems.

Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.09). The firm had revenue of $64.49 million during the quarter, compared to analyst estimates of $64.03 million. Cardiovascular Systems had a negative net margin of 1.23% and a negative return on equity of 2.21%.

Several equities analysts have recently issued reports on the stock. Guggenheim began coverage on shares of Cardiovascular Systems in a research note on Thursday, October 17th. They set a “buy” rating and a $58.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of Cardiovascular Systems in a report on Wednesday, August 7th. BidaskClub lowered Cardiovascular Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Zacks Investment Research downgraded Cardiovascular Systems from a “hold” rating to a “strong sell” rating and set a $46.00 target price on the stock. in a report on Thursday, October 31st. Finally, ValuEngine lowered Cardiovascular Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $50.20.

A number of institutional investors and hedge funds have recently modified their holdings of CSII. Stonebridge Capital Advisors LLC acquired a new stake in Cardiovascular Systems during the 2nd quarter worth about $26,000. Altshuler Shaham Ltd bought a new position in shares of Cardiovascular Systems in the 2nd quarter worth about $28,000. Advisor Group Inc. lifted its stake in shares of Cardiovascular Systems by 88.8% in the 2nd quarter. Advisor Group Inc. now owns 655 shares of the medical device company’s stock valued at $28,000 after purchasing an additional 308 shares during the period. Personal Wealth Partners acquired a new position in shares of Cardiovascular Systems in the 2nd quarter valued at about $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cardiovascular Systems by 26.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,342 shares of the medical device company’s stock valued at $111,000 after purchasing an additional 495 shares during the period. 91.17% of the stock is currently owned by institutional investors and hedge funds.

CSII traded down $0.29 during trading on Friday, reaching $43.67. 1,539 shares of the company’s stock were exchanged, compared to its average volume of 240,317. The company has a current ratio of 3.45, a quick ratio of 3.04 and a debt-to-equity ratio of 0.15. Cardiovascular Systems has a one year low of $24.84 and a one year high of $52.54. The firm has a fifty day moving average price of $45.38 and a two-hundred day moving average price of $45.02. The stock has a market capitalization of $1.55 billion, a PE ratio of -4,378.00 and a beta of 1.62.

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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