Brokerages expect Cytosorbents Co. (NASDAQ:CTSO) to announce $4.56 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cytosorbents’ earnings. The lowest sales estimate is $4.23 million and the highest is $5.00 million. Cytosorbents reported sales of $3.11 million in the same quarter last year, which indicates a positive year-over-year growth rate of 46.6%. The firm is scheduled to announce its next earnings results on Monday, May 14th.
According to Zacks, analysts expect that Cytosorbents will report full-year sales of $21.32 million for the current financial year, with estimates ranging from $20.32 million to $21.85 million. For the next fiscal year, analysts forecast that the business will post sales of $33.12 million per share, with estimates ranging from $27.74 million to $42.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Cytosorbents.
Cytosorbents (NASDAQ:CTSO) last released its quarterly earnings results on Thursday, March 8th. The medical research company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). The company had revenue of $4.65 million during the quarter, compared to analyst estimates of $4.56 million. Cytosorbents had a negative net margin of 52.08% and a negative return on equity of 118.07%.
Several research analysts have recently weighed in on the stock. HC Wainwright set a $14.00 price target on shares of Cytosorbents and gave the company a “buy” rating in a report on Friday, March 9th. Maxim Group set a $12.00 price objective on shares of Cytosorbents and gave the stock a “buy” rating in a research report on Friday, March 9th. Cowen set a $9.00 price objective on shares of Cytosorbents and gave the stock a “buy” rating in a research report on Thursday, March 8th. B. Riley reissued a “buy” rating and issued a $11.25 price objective on shares of Cytosorbents in a research report on Thursday, January 25th. Finally, ValuEngine raised shares of Cytosorbents from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Six analysts have rated the stock with a buy rating, Cytosorbents has a consensus rating of “Buy” and an average target price of $11.05.
In other Cytosorbents news, CFO Kathleen P. Bloch sold 11,176 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $8.25, for a total transaction of $92,202.00. Following the sale, the chief financial officer now directly owns 261,246 shares of the company’s stock, valued at $2,155,279.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathleen P. Bloch sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $8.00, for a total transaction of $80,000.00. Following the sale, the chief financial officer now directly owns 268,870 shares in the company, valued at $2,150,960. The disclosure for this sale can be found here. In the last three months, insiders sold 22,280 shares of company stock worth $181,310. 5.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its position in Cytosorbents by 182.3% during the fourth quarter. Wells Fargo & Company MN now owns 20,929 shares of the medical research company’s stock worth $136,000 after acquiring an additional 13,515 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Cytosorbents during the fourth quarter worth $146,000. Fortaleza Asset Management Inc. raised its position in Cytosorbents by 60.9% during the fourth quarter. Fortaleza Asset Management Inc. now owns 37,615 shares of the medical research company’s stock worth $244,000 after acquiring an additional 14,240 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new stake in Cytosorbents during the third quarter worth $365,000. Finally, BlueCrest Capital Management Ltd bought a new stake in Cytosorbents during the fourth quarter worth $396,000. 10.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cytosorbents stock traded up $0.15 on Monday, hitting $8.10. The company had a trading volume of 178,736 shares, compared to its average volume of 181,295. The stock has a market capitalization of $234.30, a PE ratio of -25.31 and a beta of -0.08. Cytosorbents has a twelve month low of $3.30 and a twelve month high of $8.25. The company has a quick ratio of 2.54, a current ratio of 2.64 and a debt-to-equity ratio of 0.58.
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Cytosorbents Company Profile
CytoSorbents Corporation, a critical care focused immunotherapy company, engages in the research, development, and commercialization of medical devices with its platform blood purification technology incorporating a proprietary adsorbent, porous polymer technology. Its principal product is CytoSorb device, an extracorporeal cytokine filter designed for the adjunctive therapy in the treatment of sepsis; adjunctive therapy in other critical care applications; prevention and treatment of post-operative complications of cardiopulmonary bypass surgery; and prevention and treatment of organ dysfunction in brain-dead organ donors to increase the number and quality of viable organs harvested from donors.
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