Research Analysts Issue Forecasts for Cardiovascular Systems Inc’s FY2019 Earnings (CSII)

Cardiovascular Systems Inc (NASDAQ:CSII) – Analysts at Svb Leerink raised their FY2019 EPS estimates for Cardiovascular Systems in a research report issued to clients and investors on Wednesday, May 1st. Svb Leerink analyst D. Antalffy now anticipates that the medical device company will post earnings of ($0.01) per share for the year, up from their previous forecast of ($0.08). Svb Leerink also issued estimates for Cardiovascular Systems’ Q1 2020 earnings at ($0.06) EPS, Q3 2020 earnings at $0.04 EPS and FY2020 earnings at $0.09 EPS.

Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings results on Wednesday, May 1st. The medical device company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. The business had revenue of $63.31 million during the quarter, compared to the consensus estimate of $62.80 million. Cardiovascular Systems had a net margin of 0.84% and a return on equity of 1.47%.

CSII has been the subject of a number of other research reports. BidaskClub downgraded shares of Cardiovascular Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. ValuEngine upgraded shares of Cardiovascular Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 5th. Needham & Company LLC reiterated a “hold” rating on shares of Cardiovascular Systems in a research report on Thursday, May 2nd. Zacks Investment Research downgraded shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Bank of America downgraded shares of Cardiovascular Systems from a “buy” rating to an “underperform” rating and set a $42.00 target price for the company. in a research report on Thursday, April 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $44.00.

CSII stock opened at $40.37 on Monday. Cardiovascular Systems has a 12-month low of $24.84 and a 12-month high of $42.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.25 and a quick ratio of 3.88. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 807.40 and a beta of 2.08.

A number of hedge funds have recently added to or reduced their stakes in CSII. Partner Fund Management L.P. lifted its position in Cardiovascular Systems by 57.2% in the 4th quarter. Partner Fund Management L.P. now owns 1,599,867 shares of the medical device company’s stock worth $45,580,000 after buying an additional 581,950 shares in the last quarter. Norges Bank purchased a new stake in Cardiovascular Systems in the 4th quarter worth approximately $14,258,000. BlackRock Inc. lifted its position in Cardiovascular Systems by 12.5% in the 4th quarter. BlackRock Inc. now owns 2,901,471 shares of the medical device company’s stock worth $82,663,000 after buying an additional 322,994 shares in the last quarter. Teachers Advisors LLC lifted its position in Cardiovascular Systems by 420.6% in the 3rd quarter. Teachers Advisors LLC now owns 317,801 shares of the medical device company’s stock worth $12,439,000 after buying an additional 256,759 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Cardiovascular Systems by 110.6% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 284,507 shares of the medical device company’s stock worth $11,136,000 after purchasing an additional 149,422 shares during the last quarter. Institutional investors own 84.69% of the company’s stock.

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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Earnings History and Estimates for Cardiovascular Systems (NASDAQ:CSII)

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