Cardiovascular Systems Inc (NASDAQ:CSII) – Leerink Swann lifted their FY2019 EPS estimates for Cardiovascular Systems in a research report issued to clients and investors on Tuesday, October 30th. Leerink Swann analyst D. Antalffy now anticipates that the medical device company will earn ($0.11) per share for the year, up from their previous estimate of ($0.12). Leerink Swann also issued estimates for Cardiovascular Systems’ FY2020 earnings at $0.01 EPS.
Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings results on Tuesday, October 30th. The medical device company reported ($0.09) EPS 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 during the quarter, compared to analyst estimates of $55.96 million.
Several other research analysts have also commented on CSII. ValuEngine raised shares of Cardiovascular Systems from a “hold” rating to a “buy” rating in a report on Friday, July 6th. BidaskClub raised shares of Cardiovascular Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 11th. Lake Street Capital reissued a “buy” rating and set a $50.00 target price on shares of Cardiovascular Systems in a research note on Wednesday, August 1st. Zacks Investment Research lowered shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, Stifel Nicolaus assumed coverage on shares of Cardiovascular Systems in a research note on Wednesday, August 22nd. They set a “buy” rating and a $45.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $35.20.
NASDAQ CSII opened at $30.67 on Friday. Cardiovascular Systems has a one year low of $20.58 and a one year high of $40.00. The company has a quick ratio of 4.03, a current ratio of 4.47 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $973.50 million, a PE ratio of 613.40 and a beta of 2.36.
In other Cardiovascular Systems news, General Counsel Alexander Rosenstein sold 1,344 shares of the business’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 completion of the transaction, the general counsel now directly owns 49,469 shares of the company’s stock, valued at approximately $1,858,055.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott R. Ward bought 2,500 shares of Cardiovascular Systems stock in a transaction on Wednesday, August 29th. The shares were purchased 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 directly owns 278,362 shares in the company, valued at $10,686,317.18. The disclosure for this purchase can be found here. Insiders have sold a total of 3,177 shares of company stock valued at $119,274 over the last three months. 2.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in 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 purchasing an additional 210,128 shares during the period. Partner Fund Management L.P. boosted its stake in Cardiovascular Systems by 49.9% during the 2nd quarter. Partner Fund Management L.P. now owns 1,230,921 shares of the medical device company’s stock valued at $39,808,000 after purchasing an additional 409,767 shares during the period. FMR LLC boosted its stake in Cardiovascular Systems by 187.0% during the 2nd quarter. FMR LLC now owns 516,100 shares of the medical device company’s stock valued at $16,690,000 after purchasing an additional 336,300 shares during the period. First Light Asset Management LLC boosted its stake in Cardiovascular Systems by 3.7% during the 2nd quarter. First Light Asset Management LLC now owns 487,207 shares of the medical device company’s stock valued at $15,756,000 after purchasing an additional 17,520 shares during the period. Finally, Northern Trust Corp raised its position in shares of Cardiovascular Systems by 2.7% during the 2nd quarter. Northern Trust Corp now owns 436,597 shares of the medical device company’s stock worth $14,120,000 after buying an additional 11,508 shares in the last quarter. 79.35% of the stock is owned by hedge funds and other institutional investors.
About Cardiovascular Systems
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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