Brokerages expect Cytosorbents Corp (NASDAQ:CTSO) to announce sales of $6.57 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Cytosorbents’ earnings, with the lowest sales estimate coming in at $6.36 million and the highest estimate coming in at $6.74 million. Cytosorbents posted sales of $5.76 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.1%. The company is scheduled to issue its next quarterly earnings results on Thursday, August 1st.
According to Zacks, analysts expect that Cytosorbents will report full-year sales of $28.65 million for the current fiscal year, with estimates ranging from $26.64 million to $30.34 million. For the next financial year, analysts forecast that the business will report sales of $42.21 million, with estimates ranging from $31.07 million to $48.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Cytosorbents.
Cytosorbents (NASDAQ:CTSO) last released its earnings results on Tuesday, May 7th. The medical research company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.03. The firm had revenue of $5.19 million during the quarter, compared to analysts’ expectations of $6.03 million. Cytosorbents had a negative return on equity of 103.90% and a negative net margin of 83.93%.
Several research firms have weighed in on CTSO. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Cytosorbents in a report on Friday, March 8th. ValuEngine upgraded Cytosorbents from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Finally, Maxim Group restated a “buy” rating and set a $18.00 price target on shares of Cytosorbents in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Cytosorbents has an average rating of “Hold” and a consensus price target of $14.67.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in shares of Cytosorbents by 12.6% during the fourth quarter. Barclays PLC now owns 13,590 shares of the medical research company’s stock worth $109,000 after buying an additional 1,517 shares during the period. Bank of New York Mellon Corp increased its position in shares of Cytosorbents by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 97,330 shares of the medical research company’s stock worth $786,000 after purchasing an additional 2,516 shares in the last quarter. Advisor Group Inc. increased its position in shares of Cytosorbents by 13.2% during the fourth quarter. Advisor Group Inc. now owns 27,161 shares of the medical research company’s stock worth $219,000 after purchasing an additional 3,160 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Cytosorbents by 7.4% during the first quarter. Wells Fargo & Company MN now owns 60,096 shares of the medical research company’s stock worth $455,000 after buying an additional 4,154 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Cytosorbents by 11.7% during the first quarter. Rhumbline Advisers now owns 42,589 shares of the medical research company’s stock worth $322,000 after buying an additional 4,454 shares during the last quarter. 27.27% of the stock is owned by institutional investors.
NASDAQ CTSO opened at $6.51 on Friday. The company has a market cap of $209.95 million, a price-to-earnings ratio of -11.63 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.70 and a quick ratio of 4.20. Cytosorbents has a 1-year low of $6.36 and a 1-year high of $14.95.
Cytosorbents Corporation, a critical care focused immunotherapy company, engages in the research, development, and commercialization of medical devices with its blood purification technology platform incorporating a proprietary adsorbent and porous polymer technology worldwide. The company's flagship product is CytoSorb device, an extracorporeal cytokine filter designed for the adjunctive therapy in the treatment of sepsis; adjunctive therapy in other critical care applications; prevention and treatment of post-operative complications of cardiopulmonary bypass surgery; and prevention and treatment of organ dysfunction in brain-dead organ donors to increase the number and quality of viable organs harvested from donors.
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