Brokerages predict that Cardiovascular Systems Inc (NASDAQ:CSII) will post sales of $55.96 million for the current quarter, according to Zacks. Four analysts have made estimates for Cardiovascular Systems’ earnings, with estimates ranging from $55.17 million to $56.77 million. Cardiovascular Systems posted sales of $49.68 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.6%. The company is expected to report its next earnings report after the market closes on Tuesday, October 30th.
On average, analysts expect that Cardiovascular Systems will report full year sales of $244.23 million for the current financial year, with estimates ranging from $243.60 million to $244.89 million. For the next financial year, analysts expect that the business will report sales of $280.95 million, with estimates ranging from $276.85 million to $286.60 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Cardiovascular Systems.
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Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings data on Monday, July 30th. The medical device company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Cardiovascular Systems had a net margin of 0.79% and a return on equity of 1.36%. The firm had revenue of $59.15 million for the quarter, compared to analysts’ expectations of $58.43 million.
CSII has been the topic of several research analyst reports. BidaskClub upgraded shares of Cardiovascular Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 22nd. Bank of America upgraded shares of Cardiovascular Systems from an “underperform” rating to a “buy” rating in a research report on Wednesday, June 27th. ValuEngine upgraded shares of Cardiovascular Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 6th. Lake Street Capital restated a “buy” rating and issued a $50.00 price objective on shares of Cardiovascular Systems in a report on Wednesday, August 1st. Finally, Zacks Investment Research cut shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Cardiovascular Systems currently has a consensus rating of “Hold” and an average target price of $35.20.
Shares of NASDAQ CSII opened at $34.77 on Friday. Cardiovascular Systems has a 1 year low of $20.58 and a 1 year high of $40.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.03 and a current ratio of 4.47. The stock has a market cap of $1.31 billion, a P/E ratio of 695.40 and a beta of 2.49.
In other news, General Counsel Alexander Rosenstein sold 1,344 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $37.56, for a total value of $50,480.64. Following the transaction, the general counsel now owns 49,469 shares in the company, valued at $1,858,055.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sandra Sedo sold 862 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $37.52, for a total transaction of $32,342.24. Following the completion of the transaction, the insider now owns 22,634 shares in the company, valued at approximately $849,227.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,177 shares of company stock worth $119,274. Corporate insiders own 3.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Cardiovascular Systems in the second quarter worth approximately $114,000. SG Americas Securities LLC bought a new position in shares of Cardiovascular Systems in the first quarter worth approximately $126,000. Teacher Retirement System of Texas bought a new position in shares of Cardiovascular Systems in the second quarter worth approximately $218,000. Taylor Cottrill Erickson & Associates Inc. bought a new position in shares of Cardiovascular Systems in the second quarter worth approximately $222,000. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Cardiovascular Systems in the second quarter worth approximately $249,000. Hedge funds and other institutional investors own 84.55% of the company’s stock.
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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