Zacks: Brokerages Anticipate Cardiovascular Systems Inc (CSII) Will Announce Earnings of -$0.04 Per Share

Wall Street analysts expect Cardiovascular Systems Inc (NASDAQ:CSII) to report earnings of ($0.04) per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Cardiovascular Systems’ earnings. The lowest EPS estimate is ($0.06) and the highest is ($0.01). Cardiovascular Systems reported earnings of ($0.01) per share in the same quarter last year, which suggests a negative year over year growth rate of 300%. The business is expected to issue its next quarterly earnings report on Wednesday, February 6th.

According to Zacks, analysts expect that Cardiovascular Systems will report full-year earnings of ($0.09) per share for the current fiscal year, with EPS estimates ranging from ($0.13) to ($0.05). For the next financial year, analysts forecast that the firm will report earnings of $0.06 per share, with EPS estimates ranging from $0.01 to $0.10. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cardiovascular Systems.

Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings data on Tuesday, October 30th. The medical device company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). Cardiovascular Systems had a return on equity of 0.62% and a net margin of 0.36%. The company had revenue of $56.27 million for the quarter, compared to the consensus estimate of $55.96 million.

A number of research firms have commented on CSII. BidaskClub raised shares of Cardiovascular Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Zacks Investment Research cut shares of Cardiovascular Systems from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 12th. Stifel Nicolaus started coverage on shares of Cardiovascular Systems in a research report on Wednesday, August 22nd. They set a “buy” rating and a $45.00 price objective for the company. Lake Street Capital reissued a “buy” rating and issued a $50.00 target price on shares of Cardiovascular Systems in a research report on Wednesday, August 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cardiovascular Systems in a research report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $35.20.

CSII stock traded down $0.99 during midday trading on Monday, reaching $31.09. 320,833 shares of the company were exchanged, compared to its average volume of 365,854. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.54 and a quick ratio of 4.03. Cardiovascular Systems has a one year low of $20.58 and a one year high of $40.00. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 621.80 and a beta of 2.36.

In related news, insider Sandra Sedo sold 862 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $37.52, for a total transaction of $32,342.24. Following the completion of the sale, the insider now owns 22,634 shares of the company’s stock, valued at $849,227.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott R. Ward acquired 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were purchased at an average cost of $38.39 per share, with a total value of $95,975.00. Following the transaction, the chief executive officer now directly owns 278,362 shares of the company’s stock, valued at $10,686,317.18. The disclosure for this purchase can be found here. In the last three months, insiders sold 3,177 shares of company stock valued at $119,274. 2.80% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CSII. Partner Fund Management L.P. lifted its position in Cardiovascular Systems by 49.9% during the second quarter. Partner Fund Management L.P. now owns 1,230,921 shares of the medical device company’s stock worth $39,808,000 after purchasing an additional 409,767 shares during the period. FMR LLC raised its stake in Cardiovascular Systems by 187.0% during the second quarter. FMR LLC now owns 516,100 shares of the medical device company’s stock worth $16,690,000 after acquiring an additional 336,300 shares in the last quarter. Millennium Management LLC raised its stake in Cardiovascular Systems by 2,442.1% during the second quarter. Millennium Management LLC now owns 290,916 shares of the medical device company’s stock worth $9,408,000 after acquiring an additional 279,472 shares in the last quarter. BlackRock Inc. raised its stake in Cardiovascular Systems by 9.3% during the second quarter. BlackRock Inc. now owns 2,479,543 shares of the medical device company’s stock worth $80,188,000 after acquiring an additional 210,128 shares in the last quarter. Finally, Granahan Investment Management Inc. MA raised its stake in Cardiovascular Systems by 31.8% during the second quarter. Granahan Investment Management Inc. MA now owns 381,056 shares of the medical device company’s stock worth $12,323,000 after acquiring an additional 92,042 shares in the last quarter. 79.58% of the stock is owned by institutional investors and hedge funds.

About Cardiovascular Systems

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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