Cardiovascular Systems, Inc. (NASDAQ:CSII) – Investment analysts at Leerink Swann issued their Q2 2018 earnings per share (EPS) estimates for shares of Cardiovascular Systems in a report released on Monday. Leerink Swann analyst D. Antalffy forecasts that the medical device company will earn ($0.01) per share for the quarter. Leerink Swann also issued estimates for Cardiovascular Systems’ FY2018 earnings at $0.00 EPS, Q3 2019 earnings at $0.10 EPS and FY2022 earnings at $0.85 EPS.
Several other research analysts have also commented on CSII. BidaskClub upgraded Cardiovascular Systems from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Bank of America Corporation lowered Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 21st. Needham & Company LLC reiterated a “buy” rating and set a $37.00 price target (up previously from $32.00) on shares of Cardiovascular Systems in a report on Friday, July 14th. Finally, Zacks Investment Research lowered Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Cardiovascular Systems presently has an average rating of “Hold” and an average target price of $33.83.
Cardiovascular Systems (NASDAQ CSII) opened at 28.25 on Tuesday. The stock’s market cap is $932.00 million. Cardiovascular Systems has a 12-month low of $21.29 and a 12-month high of $33.11. The stock has a 50 day moving average of $30.09 and a 200 day moving average of $30.15.
Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.07. Cardiovascular Systems had a negative net margin of 0.87% and a positive return on equity of 0.88%. The business had revenue of $52.90 million for the quarter, compared to the consensus estimate of $51.98 million. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis.
Several large investors have recently modified their holdings of CSII. Quantbot Technologies LP increased its position in shares of Cardiovascular Systems by 142.3% during the 1st quarter. Quantbot Technologies LP now owns 5,323 shares of the medical device company’s stock worth $150,000 after purchasing an additional 3,126 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Cardiovascular Systems by 160.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,135 shares of the medical device company’s stock worth $166,000 after purchasing an additional 3,165 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Cardiovascular Systems during the 2nd quarter worth about $204,000. Winslow Evans & Crocker Inc. increased its position in shares of Cardiovascular Systems by 21.3% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 6,550 shares of the medical device company’s stock worth $210,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Clinton Group Inc. acquired a new stake in shares of Cardiovascular Systems during the 1st quarter worth about $212,000. 74.70% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Edward M. Brown sold 20,000 shares of Cardiovascular Systems stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $29.16, for a total transaction of $583,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Kevin J. Kenny sold 4,733 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $30.74, for a total value of $145,492.42. Following the sale, the chief operating officer now directly owns 153,339 shares of the company’s stock, valued at $4,713,640.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,065 shares of company stock worth $1,514,031. Insiders own 3.60% of the company’s stock.
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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