Analysts Expect Cardiovascular Systems Inc (CSII) Will Announce Quarterly Sales of $53.26 Million

Wall Street brokerages predict that Cardiovascular Systems Inc (NASDAQ:CSII) will report $53.26 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Cardiovascular Systems’ earnings. The lowest sales estimate is $52.93 million and the highest is $53.80 million. Cardiovascular Systems posted sales of $50.04 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.4%. The business is scheduled to report its next earnings report before the market opens on Wednesday, February 7th.

According to Zacks, analysts expect that Cardiovascular Systems will report full year sales of $53.26 million for the current fiscal year, with estimates ranging from $223.90 million to $226.20 million. For the next fiscal year, analysts anticipate that the business will report sales of $254.34 million per share, with estimates ranging from $250.81 million to $260.64 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Cardiovascular Systems.

Cardiovascular Systems (NASDAQ:CSII) last issued its earnings results on Wednesday, October 25th. The medical device company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. Cardiovascular Systems had a positive return on equity of 0.74% and a negative net margin of 0.93%. The business had revenue of $49.70 million for the quarter, compared to analyst estimates of $51.00 million. During the same period last year, the company posted ($0.06) EPS. The business’s quarterly revenue was down .2% on a year-over-year basis.

CSII has been the topic of several research reports. Zacks Investment Research raised Cardiovascular Systems from a “sell” rating to a “hold” rating in a research report on Monday, November 13th. BidaskClub lowered Cardiovascular Systems from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 27th. Citigroup initiated coverage on Cardiovascular Systems in a research report on Thursday, September 21st. They issued a “market perform” rating on the stock. Raymond James Financial initiated coverage on Cardiovascular Systems in a research report on Friday, September 22nd. They issued a “market perform” rating on the stock. Finally, Needham & Company LLC lowered Cardiovascular Systems from a “buy” rating to a “hold” rating and cut their price objective for the company from $33.11 to $23.00 in a research report on Friday, December 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.50.

Cardiovascular Systems (NASDAQ CSII) opened at $23.89 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.30 and a quick ratio of 3.83. Cardiovascular Systems has a 52-week low of $23.00 and a 52-week high of $33.11. The company has a market capitalization of $790.41, a PE ratio of -398.17 and a beta of 2.52.

A number of large investors have recently added to or reduced their stakes in CSII. Vanguard Group Inc. grew its stake in shares of Cardiovascular Systems by 12.6% during the second quarter. Vanguard Group Inc. now owns 1,864,604 shares of the medical device company’s stock valued at $60,096,000 after acquiring an additional 208,248 shares in the last quarter. Cortina Asset Management LLC grew its stake in shares of Cardiovascular Systems by 5.0% during the third quarter. Cortina Asset Management LLC now owns 872,363 shares of the medical device company’s stock valued at $24,557,000 after acquiring an additional 41,496 shares in the last quarter. State Street Corp grew its stake in shares of Cardiovascular Systems by 0.9% during 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. Point72 Asset Management L.P. grew its stake in shares of Cardiovascular Systems by 132.7% during the third quarter. Point72 Asset Management L.P. now owns 469,978 shares of the medical device company’s stock valued at $13,230,000 after acquiring an additional 267,988 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of Cardiovascular Systems by 4.9% during the third quarter. New York State Common Retirement Fund now owns 464,811 shares of the medical device company’s stock valued at $13,084,000 after acquiring an additional 21,507 shares in the last quarter. 74.86% of the stock is currently owned by institutional investors.

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

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