Leerink Swann Weighs in on Cardiovascular Systems, Inc.’s Q1 2018 Earnings (CSII)
Cardiovascular Systems, Inc. (NASDAQ:CSII) – Leerink Swann lowered their Q1 2018 EPS estimates for shares of Cardiovascular Systems in a note issued to investors on Monday. Leerink Swann analyst D. Antalffy now forecasts that the medical device company will post earnings per share of ($0.08) for the quarter, down from their previous forecast of ($0.07). Leerink Swann also issued estimates for Cardiovascular Systems’ Q4 2018 earnings at $0.05 EPS and FY2021 earnings at $0.68 EPS.
Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings data on Wednesday, August 2nd. The medical device company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. The company had revenue of $52.90 million for the quarter, compared to the consensus estimate of $51.98 million. Cardiovascular Systems had a positive return on equity of 0.88% and a negative net margin of 0.87%. Cardiovascular Systems’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.15) EPS.
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Several other equities research analysts have also recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $37.00 target price (up previously from $32.00) on shares of Cardiovascular Systems in a research note on Friday, July 14th. Bank of America Corporation cut Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 21st. BidaskClub raised Cardiovascular Systems from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Citigroup Inc. started coverage on Cardiovascular Systems in a research note on Thursday. They set a “market perform” rating for the company. Finally, Zacks Investment Research cut Cardiovascular Systems from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Three analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Cardiovascular Systems presently has a consensus rating of “Hold” and a consensus price target of $33.83.
Cardiovascular Systems (NASDAQ:CSII) opened at 27.60 on Wednesday. The firm has a 50-day moving average price of $29.97 and a 200 day moving average price of $30.14. Cardiovascular Systems has a 12 month low of $21.29 and a 12 month high of $33.11. The company’s market cap is $910.55 million.
Several hedge funds and other institutional investors have recently modified their holdings of CSII. Cortina Asset Management LLC acquired a new stake in shares of Cardiovascular Systems in the first quarter valued at $24,329,000. New York State Common Retirement Fund grew its stake in shares of Cardiovascular Systems by 346.8% in the second quarter. New York State Common Retirement Fund now owns 443,304 shares of the medical device company’s stock valued at $14,288,000 after buying an additional 344,082 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Cardiovascular Systems in the first quarter valued at $8,663,000. Marshall Wace North America L.P. acquired a new stake in shares of Cardiovascular Systems in the first quarter valued at $8,663,000. Finally, Vanguard Group Inc. grew its stake in shares of Cardiovascular Systems by 22.7% in the first quarter. Vanguard Group Inc. now owns 1,656,356 shares of the medical device company’s stock valued at $46,834,000 after buying an additional 305,953 shares in the last quarter. 74.70% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Laurence L. Betterley sold 4,443 shares of Cardiovascular Systems stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $30.74, for a total value of $136,577.82. Following the completion of the sale, the chief financial officer now directly owns 223,557 shares of the company’s stock, valued at $6,872,142.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward M. Brown sold 13,031 shares of Cardiovascular Systems stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $29.09, for a total value of $379,071.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,065 shares of company stock valued at $1,514,031. 3.60% of the stock is owned by insiders.
Cardiovascular Systems Company Profile
Cardiovascular Systems, Inc is a medical technology company. The Company is engaged in treating patients suffering from peripheral and coronary artery diseases, including those with arterial calcium. The Company develops an orbital atherectomy technology for both peripheral and coronary commercial applications.
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