Zacks: Brokerages Expect Cardiovascular Systems, Inc. (NASDAQ:CSII) Will Post Quarterly Sales of $57.52 Million

Analysts expect Cardiovascular Systems, Inc. (NASDAQ:CSIIGet Rating) to announce sales of $57.52 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Cardiovascular Systems’ earnings. The lowest sales estimate is $54.42 million and the highest is $58.77 million. Cardiovascular Systems reported sales of $63.27 million during the same quarter last year, which indicates a negative year over year growth rate of 9.1%. The company is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Cardiovascular Systems will report full-year sales of $237.28 million for the current fiscal year, with estimates ranging from $235.52 million to $240.44 million. For the next fiscal year, analysts anticipate that the business will post sales of $272.21 million, with estimates ranging from $254.67 million to $300.33 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Cardiovascular Systems.

Cardiovascular Systems (NASDAQ:CSIIGet Rating) last posted its quarterly earnings data on Thursday, February 3rd. The medical device company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.09). The company had revenue of $59.14 million for the quarter, compared to analysts’ expectations of $62.66 million. Cardiovascular Systems had a negative return on equity of 10.85% and a negative net margin of 11.47%. The firm’s quarterly revenue was down 7.8% on a year-over-year basis.

Several equities research analysts have recently issued reports on the stock. SVB Leerink decreased their price objective on shares of Cardiovascular Systems from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, February 4th. Zacks Investment Research raised shares of Cardiovascular Systems from a “sell” rating to a “hold” rating and set a $19.00 price objective for the company in a research report on Tuesday, January 11th. Bank of America assumed coverage on shares of Cardiovascular Systems in a research report on Wednesday, March 2nd. They set an “underperform” rating for the company. Finally, StockNews.com assumed coverage on shares of Cardiovascular Systems in a research report on Thursday, March 31st. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.00.

CSII stock traded up $0.24 during midday trading on Friday, hitting $22.05. The company’s stock had a trading volume of 239,994 shares, compared to its average volume of 405,249. The company has a market cap of $894.77 million, a price-to-earnings ratio of -29.31 and a beta of 0.84. The firm has a 50-day moving average of $20.41. Cardiovascular Systems has a 52-week low of $15.22 and a 52-week high of $44.57. The company has a quick ratio of 5.17, a current ratio of 5.92 and a debt-to-equity ratio of 0.08.

In other Cardiovascular Systems news, CFO Jeffrey S. Points acquired 2,000 shares of the company’s stock in a transaction on Tuesday, February 8th. The shares were bought at an average cost of $18.20 per share, for a total transaction of $36,400.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martha Goldberg Aronson acquired 2,500 shares of the company’s stock in a transaction on Monday, February 7th. The stock was acquired at an average price of $18.43 per share, for a total transaction of $46,075.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,567 shares of company stock worth $121,319 over the last quarter. 3.40% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans increased its stake in shares of Cardiovascular Systems by 1.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 33,001 shares of the medical device company’s stock worth $620,000 after acquiring an additional 538 shares during the period. Rhumbline Advisers increased its stake in shares of Cardiovascular Systems by 0.6% during the fourth quarter. Rhumbline Advisers now owns 99,634 shares of the medical device company’s stock worth $1,871,000 after acquiring an additional 566 shares during the period. M&T Bank Corp increased its stake in shares of Cardiovascular Systems by 5.4% during the third quarter. M&T Bank Corp now owns 12,482 shares of the medical device company’s stock worth $409,000 after acquiring an additional 637 shares during the period. Eaton Vance Management increased its stake in shares of Cardiovascular Systems by 5.4% during the fourth quarter. Eaton Vance Management now owns 14,547 shares of the medical device company’s stock worth $252,000 after acquiring an additional 749 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in shares of Cardiovascular Systems by 9.3% during the third quarter. Handelsbanken Fonder AB now owns 11,700 shares of the medical device company’s stock worth $384,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 93.58% of the company’s stock.

Cardiovascular Systems Company Profile (Get Rating)

Cardiovascular Systems, Inc, a medical device company, develops and commercializes solutions to treat peripheral and coronary artery diseases in the United States and internationally. The company offers peripheral artery disease products, which are catheter-based platforms to treat various plaque types in above and below the knee, including calcified plaque, as well as address various limitations related with surgical, catheter, and pharmacological treatment alternatives; and peripheral support products.

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