Analysts Anticipate Cardiovascular Systems, Inc. (CSII) Will Post Quarterly Sales of $53.25 Million
Wall Street brokerages forecast that Cardiovascular Systems, Inc. (NASDAQ:CSII) will post sales of $53.25 million for the current quarter, Zacks reports. Three analysts have provided estimates for Cardiovascular Systems’ earnings, with the lowest sales estimate coming in at $52.90 million and the highest estimate coming in at $53.80 million. Cardiovascular Systems reported sales of $50.04 million during the same quarter last year, which indicates a positive year over year growth rate of 6.4%. The firm is scheduled to report its next earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that Cardiovascular Systems will report full year sales of $53.25 million for the current financial year, with estimates ranging from $224.94 million to $226.20 million. For the next financial year, analysts expect that the firm will report sales of $254.47 million per share, with estimates ranging from $250.81 million to $260.60 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Cardiovascular Systems.
Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings data on Wednesday, October 25th. The medical device company reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Cardiovascular Systems had a positive return on equity of 0.75% and a negative net margin of 0.93%. The business had revenue of $49.70 million for the quarter, compared to the consensus estimate of $51.00 million. During the same quarter last year, the business posted ($0.06) EPS. The firm’s revenue was down .2% compared to the same quarter last year.
A number of analysts have commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price target (down previously from $37.00) on shares of Cardiovascular Systems in a research report on Thursday, October 26th. BidaskClub cut shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Raymond James Financial, Inc. assumed coverage on shares of Cardiovascular Systems in a research report on Friday, September 22nd. They set a “market perform” rating on the stock. Finally, Citigroup Inc. assumed coverage on shares of Cardiovascular Systems in a research report on Thursday, September 21st. They set a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.33.
In other news, CEO Scott R. Ward sold 5,529 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $30.41, for a total transaction of $168,136.89. Following the transaction, the chief executive officer now owns 282,536 shares of the company’s stock, valued at approximately $8,591,919.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura Gillund sold 2,350 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $30.42, for a total transaction of $71,487.00. Following the transaction, the insider now directly owns 88,633 shares in the company, valued at approximately $2,696,215.86. The disclosure for this sale can be found here. Insiders have sold a total of 51,065 shares of company stock worth $1,514,031 in the last three months. Insiders own 3.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Gabelli Funds LLC raised its holdings in shares of Cardiovascular Systems by 223.1% in the 3rd quarter. Gabelli Funds LLC now owns 218,500 shares of the medical device company’s stock worth $6,151,000 after acquiring an additional 150,880 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Cardiovascular Systems by 96.2% in the 3rd quarter. Gamco Investors INC. ET AL now owns 81,430 shares of the medical device company’s stock worth $2,292,000 after acquiring an additional 39,930 shares during the last quarter. WFG Advisors LP raised its holdings in shares of Cardiovascular Systems by 266.1% in the 2nd quarter. WFG Advisors LP now owns 47,058 shares of the medical device company’s stock worth $1,517,000 after acquiring an additional 34,203 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cardiovascular Systems in the 2nd quarter worth about $369,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Cardiovascular Systems by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,114 shares of the medical device company’s stock worth $809,000 after acquiring an additional 299 shares during the last quarter. Institutional investors own 74.61% of the company’s stock.
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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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