Cardiovascular Systems, Inc. (NASDAQ:CSII) – Analysts at Leerink Swann reduced their Q2 2018 earnings per share (EPS) estimates for shares of Cardiovascular Systems in a report released on Thursday. Leerink Swann analyst D. Antalffy now anticipates that the medical device company will post earnings per share of ($0.05) for the quarter, down from their previous forecast of ($0.01). Leerink Swann also issued estimates for Cardiovascular Systems’ FY2018 earnings at ($0.02) EPS and FY2021 earnings at $0.57 EPS.
CSII has been the subject of a number of other reports. BidaskClub cut shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Citigroup Inc. assumed coverage on shares of Cardiovascular Systems in a research note on Thursday, September 21st. They set a “market perform” rating for the company. Raymond James Financial, Inc. assumed coverage on shares of Cardiovascular Systems in a research note on Friday, September 22nd. They set a “market perform” rating for the company. Needham & Company LLC reissued a “buy” rating and set a $37.00 price objective on shares of Cardiovascular Systems in a research note on Thursday, October 12th. Finally, Zacks Investment Research lowered shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $35.33.
Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings data on Wednesday, October 25th. The medical device company reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Cardiovascular Systems had a positive return on equity of 0.75% and a negative net margin of 0.93%. The company had revenue of $49.70 million during the quarter, compared to analyst estimates of $51.00 million. During the same period in the previous year, the business earned ($0.06) EPS. Cardiovascular Systems’s quarterly revenue was down .2% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in the stock. WFG Advisors LP increased its stake in Cardiovascular Systems by 266.1% during the 2nd quarter. WFG Advisors LP now owns 47,058 shares of the medical device company’s stock worth $1,517,000 after buying an additional 34,203 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Cardiovascular Systems in the 2nd quarter worth about $369,000. The Manufacturers Life Insurance Company increased its position in shares of Cardiovascular Systems by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,114 shares of the medical device company’s stock worth $809,000 after purchasing an additional 299 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Cardiovascular Systems in the 2nd quarter worth about $204,000. Finally, State Street Corp increased its position in shares of Cardiovascular Systems by 0.9% in the 2nd quarter. State Street Corp now owns 677,462 shares of the medical device company’s stock worth $21,828,000 after purchasing an additional 6,074 shares during the last quarter. 74.61% of the stock is currently owned by hedge funds and other institutional investors.
In related news, General Counsel Alexander Rosenstein sold 979 shares of Cardiovascular Systems stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $30.71, for a total transaction of $30,065.09. Following the sale, the general counsel now owns 52,296 shares of the company’s stock, valued at approximately $1,606,010.16. The transaction was disclosed in a legal filing 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 on Wednesday, August 16th. The stock was sold at an average price of $30.74, for a total transaction of $136,577.82. Following the sale, the chief financial officer now directly owns 223,557 shares in the company, valued at approximately $6,872,142.18. 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 in the last 90 days. Company insiders own 3.30% of the company’s stock.
About Cardiovascular Systems
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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