Cardiovascular Systems Inc (NASDAQ:CSII) – Equities research analysts at William Blair dropped their Q2 2019 EPS estimates for Cardiovascular Systems in a research report issued on Tuesday, October 30th. William Blair analyst M. Kaczor now expects that the medical device company will post earnings per share of ($0.05) for the quarter, down from their previous forecast of ($0.03). William Blair also issued estimates for Cardiovascular Systems’ Q3 2019 earnings at $0.02 EPS, Q4 2019 earnings at $0.03 EPS and FY2019 earnings at ($0.09) EPS.
Several other research firms have also weighed in on CSII. BidaskClub upgraded shares of Cardiovascular Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Zacks Investment Research lowered shares of Cardiovascular Systems from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 12th. Stifel Nicolaus assumed coverage on shares of Cardiovascular Systems in a research report on Wednesday, August 22nd. They set a “buy” rating and a $45.00 price objective for the company. Lake Street Capital restated a “buy” rating and set a $50.00 price objective on shares of Cardiovascular Systems in a research report on Wednesday, August 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Cardiovascular Systems in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $35.20.
Shares of NASDAQ:CSII traded up $0.36 during trading hours on Friday, hitting $29.61. 7,663 shares of the company’s stock traded hands, compared to its average volume of 234,698. Cardiovascular Systems has a 52 week low of $20.58 and a 52 week high of $40.00. The company has a current ratio of 4.47, a quick ratio of 4.03 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 585.00 and a beta of 2.49.
Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings data on Tuesday, October 30th. The medical device company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). Cardiovascular Systems had a net margin of 0.36% and a return on equity of 0.62%. The business had revenue of $56.27 million for the quarter, compared to the consensus estimate of $55.96 million.
In other news, CEO Scott R. Ward acquired 2,500 shares of Cardiovascular Systems stock in a transaction on Wednesday, August 29th. The stock was bought at an average cost of $38.39 per share, with a total value of $95,975.00. Following the completion of the purchase, the chief executive officer now owns 278,362 shares of the company’s stock, valued at $10,686,317.18. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Alexander Rosenstein sold 1,344 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $37.56, for a total transaction of $50,480.64. Following the sale, the general counsel now directly owns 49,469 shares of the company’s stock, valued at $1,858,055.64. The disclosure for this sale can be found here. Insiders have sold 3,177 shares of company stock valued at $119,274 over the last ninety days. Insiders own 2.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CSII. Harvest Fund Management Co. Ltd purchased a new stake in shares of Cardiovascular Systems in the third quarter worth approximately $108,000. Acadian Asset Management LLC purchased a new stake in shares of Cardiovascular Systems in the second quarter worth approximately $114,000. Versant Capital Management Inc purchased a new stake in shares of Cardiovascular Systems in the third quarter worth approximately $147,000. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Cardiovascular Systems in the third quarter worth approximately $210,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Cardiovascular Systems in the second quarter worth approximately $218,000. 79.35% of the stock is owned by institutional investors and hedge funds.
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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