Cardiovascular Systems, Inc. (NASDAQ:CSII) – Equities research analysts at Leerink Swann dropped their FY2019 earnings per share estimates for shares of Cardiovascular Systems in a research note issued on Thursday, Zacks Investment Research reports. Leerink Swann analyst D. Antalffy now anticipates that the medical device company will earn $0.14 per share for the year, down from their previous forecast of $0.23. Leerink Swann also issued estimates for Cardiovascular Systems’ FY2020 earnings at $0.37 EPS and FY2022 earnings at $0.73 EPS.
CSII has been the topic of several other reports. BidaskClub cut Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Citigroup Inc. started coverage on Cardiovascular Systems in a research report on Thursday, September 21st. They issued a “market perform” rating for the company. Raymond James Financial, Inc. started coverage on Cardiovascular Systems in a research report on Friday, September 22nd. They issued a “market perform” rating for the company. Needham & Company LLC reiterated a “buy” rating and issued a $37.00 price target on shares of Cardiovascular Systems in a research report on Thursday, October 12th. Finally, Zacks Investment Research lowered Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.33.
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Shares of Cardiovascular Systems (CSII) opened at $23.73 on Friday. Cardiovascular Systems has a twelve month low of $23.00 and a twelve month high of $33.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.30 and a quick ratio of 3.47. The stock has a market capitalization of $809.72, a PE ratio of 1,186.50 and a beta of 2.53.
Cardiovascular Systems (NASDAQ:CSII) last issued its earnings results on Wednesday, October 25th. The medical device company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Cardiovascular Systems had a positive return on equity of 0.74% and a negative net margin of 0.93%. The firm had revenue of $49.70 million for the quarter, compared to analysts’ expectations of $51.00 million. During the same period in the previous year, the firm posted ($0.06) earnings per share. The business’s revenue was down .2% compared to the same quarter last year.
Several large investors have recently made changes to their positions in CSII. New York State Common Retirement Fund boosted its position in shares of Cardiovascular Systems by 346.8% during the second quarter. New York State Common Retirement Fund now owns 443,304 shares of the medical device company’s stock valued at $14,288,000 after buying an additional 344,082 shares during the period. Vanguard Group Inc. raised its stake in shares of Cardiovascular Systems by 22.7% during the first quarter. Vanguard Group Inc. now owns 1,656,356 shares of the medical device company’s stock valued at $46,834,000 after acquiring an additional 305,953 shares in the last quarter. Fred Alger Management Inc. bought a new stake in shares of Cardiovascular Systems during the second quarter valued at approximately $7,327,000. Gabelli Funds LLC raised its stake in shares of Cardiovascular Systems by 223.1% during the third quarter. Gabelli Funds LLC now owns 218,500 shares of the medical device company’s stock valued at $6,151,000 after acquiring an additional 150,880 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Cardiovascular Systems by 14.2% during the first quarter. State Street Corp now owns 671,388 shares of the medical device company’s stock valued at $18,982,000 after acquiring an additional 83,602 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.
In other Cardiovascular Systems news, Director Edward M. Brown sold 13,031 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $29.09, for a total transaction of $379,071.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward M. Brown sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $29.16, for a total value of $583,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,065 shares of company stock valued at $1,514,031. 3.30% of the stock is currently owned by company insiders.
About Cardiovascular Systems
Cardiovascular Systems, Inc is a medical technology company. The Company is engaged in treating patients suffering from peripheral and coronary artery diseases, including those with arterial calcium. The Company develops an orbital atherectomy technology for both peripheral and coronary commercial applications.
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