Cardiovascular Systems (CSII) Issues Earnings Results

Cardiovascular Systems (NASDAQ:CSII) issued its earnings results on Tuesday. The medical device company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03), MarketWatch Earnings reports. Cardiovascular Systems had a net margin of 0.79% and a return on equity of 1.36%. The company had revenue of $56.27 million during the quarter, compared to analysts’ expectations of $55.96 million. Cardiovascular Systems updated its FY 2019 guidance to EPS.

Shares of CSII traded down $6.31 during mid-day trading on Wednesday, reaching $28.61. The company had a trading volume of 32,918 shares, compared to its average volume of 229,355. The firm has a market cap of $1.18 billion, a PE ratio of 565.60 and a beta of 2.49. Cardiovascular Systems has a fifty-two week low of $20.58 and a fifty-two week high of $40.00. The company has a quick ratio of 4.03, a current ratio of 4.47 and a debt-to-equity ratio of 0.16.

A number of research analysts have issued reports on the stock. Lake Street Capital reaffirmed a “buy” rating and issued a $50.00 target price on shares of Cardiovascular Systems in a report on Wednesday, August 1st. BidaskClub lowered shares of Cardiovascular Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Needham & Company LLC restated a “hold” rating on shares of Cardiovascular Systems in a research report on Wednesday. Stifel Nicolaus began coverage on shares of Cardiovascular Systems in a research report on Wednesday, August 22nd. They set a “buy” rating and a $45.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $35.20.

In related news, CEO Scott R. Ward purchased 2,500 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were bought at an average price of $38.39 per share, for a total transaction of $95,975.00. Following the acquisition, the chief executive officer now directly owns 278,362 shares in the company, valued at $10,686,317.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Alexander Rosenstein sold 1,344 shares of Cardiovascular Systems stock in a transaction on Friday, August 17th. The shares were sold at an average price of $37.56, for a total transaction of $50,480.64. Following the completion of the transaction, the general counsel now owns 49,469 shares in the company, valued at approximately $1,858,055.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,177 shares of company stock worth $119,274. 2.80% of the stock is owned by company insiders.

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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Earnings History for Cardiovascular Systems (NASDAQ:CSII)

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