Brokerages Anticipate Cytosorbents Co. (NASDAQ:CTSO) Will Announce Quarterly Sales of $9.84 Million

Brokerages predict that Cytosorbents Co. (NASDAQ:CTSOGet Rating) will post $9.84 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Cytosorbents’ earnings. The lowest sales estimate is $9.16 million and the highest is $10.30 million. Cytosorbents posted sales of $10.60 million during the same quarter last year, which suggests a negative year over year growth rate of 7.2%. The company is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Cytosorbents will report full year sales of $44.46 million for the current year, with estimates ranging from $39.84 million to $46.50 million. For the next financial year, analysts forecast that the firm will report sales of $60.53 million, with estimates ranging from $56.51 million to $70.37 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Cytosorbents.

Cytosorbents (NASDAQ:CTSOGet Rating) last posted its earnings results on Tuesday, March 8th. The medical research company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.08). The firm had revenue of $10.78 million for the quarter, compared to the consensus estimate of $9.72 million. Cytosorbents had a negative return on equity of 34.49% and a negative net margin of 56.90%.

A number of equities analysts have recently commented on CTSO shares. StockNews.com started coverage on shares of Cytosorbents in a report on Thursday, March 31st. They issued a “sell” rating on the stock. B. Riley cut their price target on shares of Cytosorbents from $10.00 to $7.00 in a research report on Thursday, March 10th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $10.00.

Shares of NASDAQ CTSO traded up $0.05 during midday trading on Friday, hitting $2.93. 1,613 shares of the company’s stock were exchanged, compared to its average volume of 189,911. The business’s fifty day moving average price is $3.46 and its two-hundred day moving average price is $4.60. The company has a market cap of $127.47 million, a price-to-earnings ratio of -5.12 and a beta of 0.24. Cytosorbents has a 12-month low of $2.82 and a 12-month high of $9.80.

Several institutional investors have recently bought and sold shares of CTSO. BlackRock Inc. lifted its holdings in Cytosorbents by 2.8% in the 4th quarter. BlackRock Inc. now owns 2,631,210 shares of the medical research company’s stock worth $11,024,000 after buying an additional 72,418 shares during the period. Skylands Capital LLC increased its position in Cytosorbents by 5.9% during the 4th quarter. Skylands Capital LLC now owns 1,946,374 shares of the medical research company’s stock valued at $8,155,000 after purchasing an additional 108,833 shares during the period. Avenir Corp raised its holdings in Cytosorbents by 28.1% in the 4th quarter. Avenir Corp now owns 1,787,275 shares of the medical research company’s stock worth $7,489,000 after purchasing an additional 391,890 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of Cytosorbents by 48.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,260,574 shares of the medical research company’s stock worth $10,203,000 after purchasing an additional 413,485 shares during the period. Finally, Granahan Investment Management Inc. MA boosted its stake in shares of Cytosorbents by 15.0% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 1,154,561 shares of the medical research company’s stock valued at $9,375,000 after purchasing an additional 151,015 shares in the last quarter. Institutional investors own 44.23% of the company’s stock.

About Cytosorbents (Get Rating)

Cytosorbents Corporation engages in the research, development, and commercialization of medical devices with its blood purification technology platform incorporating a proprietary adsorbent and porous polymer technology. Its flagship product is CytoSorb, an extracorporeal cytokine filter for adjunctive therapy in the treatment of sepsis, adjunctive therapy in other critical care applications, prevention and treatment of perioperative complications of cardiopulmonary bypass surgery, and maintaining or enhancing the quality of solid organs harvested from donors for organ transplant.

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