Equities Analysts Issue Forecasts for Cardiovascular Systems, Inc.’s Q1 2018 Earnings (NASDAQ:CSII)
Cardiovascular Systems, Inc. (NASDAQ:CSII) – Stock analysts at Leerink Swann lowered their Q1 2018 earnings estimates for shares of Cardiovascular Systems in a report issued on Wednesday. Leerink Swann analyst D. Antalffy now anticipates that the medical device company will post earnings of ($0.07) per share for the quarter, down from their previous forecast of $0.02. Leerink Swann also issued estimates for Cardiovascular Systems’ Q4 2018 earnings at $0.06 EPS, FY2018 earnings at $0.01 EPS, Q1 2019 earnings at ($0.02) EPS, Q2 2019 earnings at $0.04 EPS, Q3 2019 earnings at $0.09 EPS, Q4 2019 earnings at $0.11 EPS, FY2019 earnings at $0.23 EPS, FY2020 earnings at $0.46 EPS and FY2021 earnings at $0.67 EPS.
A number of other equities analysts also recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $32.00 price objective on shares of Cardiovascular Systems in a research report on Tuesday, April 18th. TheStreet raised Cardiovascular Systems from a “d” rating to a “c-” rating in a research note on Thursday, May 4th. Bank of America Corporation cut Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 21st. BidaskClub raised Cardiovascular Systems from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Finally, Zacks Investment Research cut Cardiovascular Systems from a “hold” rating to a “sell” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Cardiovascular Systems currently has a consensus rating of “Hold” and an average target price of $33.83.
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Cardiovascular Systems (NASDAQ:CSII) opened at 30.55 on Monday. The firm has a 50-day moving average price of $31.84 and a 200 day moving average price of $29.37. Cardiovascular Systems has a 12 month low of $19.37 and a 12 month high of $33.11. The company’s market cap is $999.93 million.
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, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. The firm had revenue of $52.90 million for the quarter, compared to the consensus estimate of $51.98 million. Cardiovascular Systems had a positive return on equity of 0.89% and a negative net margin of 0.87%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.15) EPS.
Large investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in shares of Cardiovascular Systems by 10.8% in the first quarter. Wellington Management Group LLP now owns 2,772,835 shares of the medical device company’s stock worth $78,403,000 after buying an additional 269,425 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Cardiovascular Systems by 5.4% in the first quarter. Champlain Investment Partners LLC now owns 1,742,285 shares of the medical device company’s stock worth $49,263,000 after buying an additional 89,010 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Cardiovascular Systems by 22.7% in the first quarter. Vanguard Group Inc. now owns 1,656,356 shares of the medical device company’s stock worth $46,834,000 after buying an additional 305,953 shares during the last quarter. Cortina Asset Management LLC purchased a new stake in shares of Cardiovascular Systems during the first quarter worth $24,329,000. Finally, First Manhattan Co. boosted its stake in shares of Cardiovascular Systems by 8.0% in the first quarter. First Manhattan Co. now owns 764,200 shares of the medical device company’s stock worth $18,142,000 after buying an additional 56,700 shares during the last quarter. 75.15% of the stock is owned by institutional investors and hedge funds.
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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