Wall Street brokerages expect Cardiovascular Systems, Inc. (NASDAQ:CSII) to report $53.41 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Cardiovascular Systems’ earnings, with the highest sales estimate coming in at $53.52 million and the lowest estimate coming in at $53.30 million. Cardiovascular Systems posted sales of $49.80 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.2%. The company is scheduled to issue its next earnings results on Wednesday, October 25th.
On average, analysts expect that Cardiovascular Systems will report full-year sales of $53.41 million for the current fiscal year, with estimates ranging from $230.00 million to $232.53 million. For the next financial year, analysts anticipate that the firm will report sales of $263.71 million per share, with estimates ranging from $260.40 million to $267.03 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Cardiovascular Systems.
Cardiovascular Systems (NASDAQ:CSII) last released its earnings results 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 firm had revenue of $52.90 million for 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 business’s quarterly revenue was up 9.1% compared to the same quarter last year.
CSII has been the topic of several analyst reports. BidaskClub upgraded Cardiovascular Systems from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Bank of America Corporation downgraded Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 21st. Needham & Company LLC reiterated a “buy” rating and set a $37.00 target price (up from $32.00) on shares of Cardiovascular Systems in a report on Friday, July 14th. Finally, Zacks Investment Research downgraded Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $33.83.
Cardiovascular Systems (NASDAQ:CSII) traded up 0.17% during mid-day trading on Tuesday, hitting $29.77. 144,238 shares of the company were exchanged. Cardiovascular Systems has a 12 month low of $21.29 and a 12 month high of $33.11. The firm has a 50 day moving average price of $30.44 and a 200 day moving average price of $30.03. The stock’s market cap is $982.14 million.
In other news, CFO Laurence L. Betterley sold 4,443 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $6,872,142.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward M. Brown sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $29.16, for a total value of $583,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 51,065 shares of company stock worth $1,514,031 over the last 90 days. 3.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of Cardiovascular Systems by 10.8% in the 1st quarter. Wellington Management Group LLP now owns 2,772,835 shares of the medical device company’s stock valued at $78,403,000 after acquiring an additional 269,425 shares during the last quarter. Vanguard Group Inc. boosted its position in Cardiovascular Systems by 12.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,864,604 shares of the medical device company’s stock valued at $60,096,000 after purchasing an additional 208,248 shares during the period. Champlain Investment Partners LLC boosted its position in Cardiovascular Systems by 5.4% during the 1st quarter. Champlain Investment Partners LLC now owns 1,742,285 shares of the medical device company’s stock valued at $49,263,000 after purchasing an additional 89,010 shares during the period. Cortina Asset Management LLC acquired a new position in Cardiovascular Systems during the 1st quarter valued at approximately $24,329,000. Finally, State Street Corp boosted its position in Cardiovascular Systems by 0.9% during the 2nd quarter. State Street Corp now owns 677,462 shares of the medical device company’s stock valued at $21,828,000 after purchasing an additional 6,074 shares during the period. Institutional investors and hedge funds own 74.70% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cardiovascular Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardiovascular Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.