Brokerages Expect Cardiovascular Systems, Inc. (CSII) Will Post Earnings of -$0.07 Per Share
Equities research analysts predict that Cardiovascular Systems, Inc. (NASDAQ:CSII) will announce earnings of ($0.07) per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Cardiovascular Systems’ earnings. The lowest EPS estimate is ($0.08) and the highest is ($0.06). Cardiovascular Systems posted earnings of ($0.06) per share during the same quarter last year, which indicates a negative year over year growth rate of 16.7%. The business is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, October 25th.
According to Zacks, analysts expect that Cardiovascular Systems will report full-year earnings of $0.01 per share for the current fiscal year, with EPS estimates ranging from $0.00 to $0.03. For the next year, analysts forecast that the company will report earnings of $0.18 per share, with EPS estimates ranging from $0.11 to $0.23. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Cardiovascular Systems.
Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings data on Wednesday, August 2nd. The medical device company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.07. Cardiovascular Systems had a negative net margin of 0.87% and a positive return on equity of 0.88%. The company had revenue of $52.90 million during the quarter, compared to analyst estimates of $51.98 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year.
CSII has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $37.00 target price (up from $32.00) on shares of Cardiovascular Systems in a research report on Friday, July 14th. Citigroup Inc. initiated coverage on Cardiovascular Systems in a research report on Thursday, September 21st. They issued a “market perform” rating for the company. Bank of America Corporation downgraded Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 21st. Raymond James Financial, Inc. initiated coverage on Cardiovascular Systems in a research report on Friday, September 22nd. They issued a “market perform” rating for the company. Finally, BidaskClub downgraded Cardiovascular Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Cardiovascular Systems currently has a consensus rating of “Hold” and an average price target of $34.25.
In other news, CEO Scott R. Ward sold 5,529 shares of Cardiovascular Systems stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $30.41, for a total value of $168,136.89. Following the completion of the transaction, the chief executive officer now owns 282,536 shares in the company, valued at approximately $8,591,919.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Laurence L. Betterley sold 4,443 shares of Cardiovascular Systems stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $30.74, for a total value of $136,577.82. Following the completion of the transaction, the chief financial officer now owns 223,557 shares of the company’s stock, valued at approximately $6,872,142.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,065 shares of company stock valued at $1,514,031. 3.30% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Cardiovascular Systems by 160.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,135 shares of the medical device company’s stock valued at $166,000 after buying an additional 3,165 shares during the period. BlueCrest Capital Management Ltd purchased a new position in shares of Cardiovascular Systems in the 2nd quarter valued at about $204,000. Winslow Evans & Crocker Inc. boosted its stake in shares of Cardiovascular Systems by 21.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 6,550 shares of the medical device company’s stock valued at $210,000 after buying an additional 1,150 shares during the period. Clinton Group Inc. purchased a new position in shares of Cardiovascular Systems in the 1st quarter valued at about $212,000. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Cardiovascular Systems by 809.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 8,393 shares of the medical device company’s stock valued at $237,000 after buying an additional 7,470 shares during the period. Institutional investors and hedge funds own 74.70% of the company’s stock.
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Cardiovascular Systems (NASDAQ CSII) traded down 1.80% during mid-day trading on Wednesday, reaching $27.75. 141,057 shares of the company were exchanged. Cardiovascular Systems has a 1-year low of $21.29 and a 1-year high of $33.11. The stock’s 50-day moving average price is $28.98 and its 200-day moving average price is $30.26. The stock’s market capitalization is $915.50 million.
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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