-$0.07 Earnings Per Share Expected for Cardiovascular Systems, Inc. (CSII) This Quarter
Brokerages expect that Cardiovascular Systems, Inc. (NASDAQ:CSII) will post earnings per share (EPS) of ($0.07) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Cardiovascular Systems’ earnings. The lowest EPS estimate is ($0.08) and the highest is ($0.06). Cardiovascular Systems reported earnings per share of ($0.06) in the same quarter last year, which indicates a negative year-over-year growth rate of 16.7%. The company is expected to issue its next earnings report after the market closes on Wednesday, October 25th.
On average, analysts expect that Cardiovascular Systems will report full-year earnings of $0.01 per share for the current fiscal year, with EPS estimates ranging from $0.00 to $0.03. For the next fiscal year, analysts forecast that the firm will report earnings of $0.18 per share, with EPS estimates ranging from $0.11 to $0.23. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Cardiovascular Systems.
Cardiovascular Systems (NASDAQ:CSII) last announced its earnings results on Wednesday, August 2nd. The medical device company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.07. Cardiovascular Systems had a positive return on equity of 0.88% and a negative net margin of 0.87%. The firm had revenue of $52.90 million for the quarter, compared to analyst estimates of $51.98 million. During the same quarter last year, the firm posted ($0.15) EPS. The business’s revenue was up 9.1% on a year-over-year basis.
A number of analysts have commented on CSII shares. BidaskClub downgraded Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Citigroup Inc. started coverage on Cardiovascular Systems in a research report on Thursday, September 21st. They set a “market perform” rating on the stock. Raymond James Financial, Inc. started coverage on Cardiovascular Systems in a research report on Friday, September 22nd. They set a “market perform” rating on the stock. Bank of America Corporation downgraded Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $37.00 target price (up from $32.00) on shares of Cardiovascular Systems in a research report on Friday, July 14th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $34.25.
In other news, General Counsel Alexander Rosenstein sold 979 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $30.71, for a total value of $30,065.09. Following the sale, the general counsel now directly owns 52,296 shares in the company, valued at $1,606,010.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward M. Brown sold 20,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $29.16, for a total value of $583,200.00. The disclosure for this sale can be found here. Insiders sold 51,065 shares of company stock worth $1,514,031 over the last 90 days. Company insiders own 3.30% of the company’s stock.
Several large investors have recently modified their holdings of the company. WFG Advisors LP lifted its position in shares of Cardiovascular Systems by 266.1% in the second quarter. WFG Advisors LP now owns 47,058 shares of the medical device company’s stock valued at $1,517,000 after acquiring an additional 34,203 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Cardiovascular Systems in the second quarter valued at $369,000. The Manufacturers Life Insurance Company lifted its position in shares of Cardiovascular Systems by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 25,114 shares of the medical device company’s stock valued at $809,000 after acquiring an additional 299 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Cardiovascular Systems in the second quarter valued at $204,000. Finally, State Street Corp lifted its position in shares of Cardiovascular Systems by 0.9% in the second quarter. State Street Corp now owns 677,462 shares of the medical device company’s stock valued at $21,828,000 after acquiring an additional 6,074 shares in the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.
Cardiovascular Systems (NASDAQ CSII) opened at 28.38 on Wednesday. The stock’s market cap is $936.28 million. Cardiovascular Systems has a 12 month low of $21.29 and a 12 month high of $33.11. The stock’s 50 day moving average price is $29.07 and its 200-day moving average price is $30.29.
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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