Analysts expect Cardiovascular Systems Inc (NASDAQ:CSII) to post $59.16 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Cardiovascular Systems’ earnings, with the lowest sales estimate coming in at $58.19 million and the highest estimate coming in at $59.63 million. Cardiovascular Systems posted sales of $52.63 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12.4%. The company is expected to announce its next quarterly earnings results on Wednesday, February 6th.
On average, analysts expect that Cardiovascular Systems will report full year sales of $244.25 million for the current financial year, with estimates ranging from $243.96 million to $244.50 million. For the next year, analysts anticipate that the firm will post sales of $278.20 million, with estimates ranging from $274.86 million to $280.04 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Cardiovascular Systems.
Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings data on Tuesday, October 30th. The medical device company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business had revenue of $56.27 million during the quarter, compared to analysts’ expectations of $55.96 million. Cardiovascular Systems had a return on equity of 0.62% and a net margin of 0.36%.
Several equities research analysts recently issued reports on CSII shares. Zacks Investment Research downgraded Cardiovascular Systems from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 12th. BidaskClub downgraded Cardiovascular Systems from a “buy” rating to a “hold” rating in a research note on Saturday, September 22nd. Stifel Nicolaus started coverage on Cardiovascular Systems in a research note on Wednesday, August 22nd. They set a “buy” rating and a $45.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cardiovascular Systems in a research note on Wednesday, October 31st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $35.20.
In other news, Director Martha Goldberg Aronson purchased 3,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was bought at an average cost of $28.72 per share, with a total value of $86,160.00. Following the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at $86,160. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of CSII. Millennium Management LLC raised its stake in shares of Cardiovascular Systems by 2,442.1% in the 2nd quarter. Millennium Management LLC now owns 290,916 shares of the medical device company’s stock valued at $9,408,000 after acquiring an additional 279,472 shares in the last quarter. DAFNA Capital Management LLC bought a new position in shares of Cardiovascular Systems in the 2nd quarter valued at approximately $1,915,000. BlackRock Inc. raised its stake in shares of Cardiovascular Systems by 9.3% in the 2nd quarter. BlackRock Inc. now owns 2,479,543 shares of the medical device company’s stock valued at $80,188,000 after acquiring an additional 210,128 shares in the last quarter. FMR LLC raised its stake in shares of Cardiovascular Systems by 187.0% in the 2nd quarter. FMR LLC now owns 516,100 shares of the medical device company’s stock valued at $16,690,000 after acquiring an additional 336,300 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Cardiovascular Systems by 9.3% in the 2nd quarter. Bank of Montreal Can now owns 56,773 shares of the medical device company’s stock valued at $1,835,000 after acquiring an additional 4,817 shares in the last quarter. 81.22% of the stock is owned by institutional investors.
Shares of Cardiovascular Systems stock opened at $30.56 on Friday. The stock has a market capitalization of $1.04 billion, a P/E ratio of 611.20 and a beta of 2.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.54 and a quick ratio of 4.04. Cardiovascular Systems has a 1 year low of $20.58 and a 1 year high of $40.00.
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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