$55.96 Million in Sales Expected for Cardiovascular Systems Inc (CSII) This Quarter

Brokerages forecast that Cardiovascular Systems Inc (NASDAQ:CSII) will post sales of $55.96 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Cardiovascular Systems’ earnings, with the lowest sales estimate coming in at $55.17 million and the highest estimate coming in at $56.77 million. Cardiovascular Systems reported sales of $49.68 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.6%. The firm is scheduled to report its next earnings results on Wednesday, October 24th.

According to Zacks, analysts expect that Cardiovascular Systems will report full year sales of $244.23 million for the current financial year, with estimates ranging from $243.60 million to $244.89 million. For the next fiscal year, analysts forecast that the company will report sales of $280.95 million, with estimates ranging from $276.85 million to $286.60 million. Zacks’ sales averages are an average based on a survey of analysts that follow Cardiovascular Systems.

Cardiovascular Systems (NASDAQ:CSII) last issued its earnings results on Monday, July 30th. The medical device company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The business had revenue of $59.15 million for the quarter, compared to analyst estimates of $58.43 million. Cardiovascular Systems had a net margin of 0.79% and a return on equity of 1.36%.

A number of research analysts have weighed in on CSII shares. ValuEngine raised shares of Cardiovascular Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 6th. Zacks Investment Research lowered shares of Cardiovascular Systems from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 12th. BidaskClub lowered shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a research note on Saturday, September 22nd. Finally, Stifel Nicolaus started coverage on shares of Cardiovascular Systems in a research note on Wednesday, August 22nd. They issued a “buy” rating and a $45.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $35.20.

Shares of NASDAQ CSII opened at $37.77 on Thursday. The firm has a market cap of $1.27 billion, a P/E ratio of 759.40 and a beta of 2.45. Cardiovascular Systems has a 12-month low of $20.58 and a 12-month high of $40.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.03 and a current ratio of 4.47.

In other Cardiovascular Systems news, CEO Scott R. Ward acquired 2,500 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were purchased at an average cost of $38.39 per share, with a total value of $95,975.00. Following the completion of the purchase, the chief executive officer now owns 278,362 shares of the company’s stock, valued at $10,686,317.18. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sandra Sedo sold 862 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $37.52, for a total transaction of $32,342.24. Following the completion of the sale, the insider now owns 22,634 shares of the company’s stock, valued at approximately $849,227.68. The disclosure for this sale can be found here. Insiders sold 3,177 shares of company stock worth $119,274 over the last ninety days. Insiders own 3.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Partner Investment Management L.P. raised its holdings in shares of Cardiovascular Systems by 31.2% in the second quarter. Partner Investment Management L.P. now owns 11,329 shares of the medical device company’s stock valued at $366,000 after purchasing an additional 2,695 shares during the last quarter. Swiss National Bank raised its holdings in shares of Cardiovascular Systems by 5.5% in the first quarter. Swiss National Bank now owns 57,800 shares of the medical device company’s stock valued at $1,268,000 after purchasing an additional 3,000 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Cardiovascular Systems in the second quarter valued at about $114,000. Bank of Montreal Can raised its holdings in shares of Cardiovascular Systems by 9.3% in the second quarter. Bank of Montreal Can now owns 56,773 shares of the medical device company’s stock valued at $1,835,000 after purchasing an additional 4,817 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Cardiovascular Systems in the first quarter valued at about $126,000. Institutional investors own 84.55% of the company’s stock.

Cardiovascular Systems Company Profile

Cardiovascular Systems, Inc, a medical device company, develops, manufactures, and commercializes various devices to treat vascular and coronary diseases in the United States. The company offers peripheral arterial disease products, including Diamondback 360 Peripheral, Predator 360, Stealth 360 Peripheral Orbital Atherectomy System (OAS), Diamondback 360 60cm Peripheral OAS, Diamondback 360 Low Profile Peripheral, Diamondback 360 1.50 Peripheral, Diamondback 360 2.00 Peripheral, Diamondback 360 200cm Peripheral, and Diamondback 360 180cm Peripheral, which are catheter-based platforms for treating a range of plaque types in leg arteries above and below the knee, including calcified plaque, as well as address various limitations associated with surgical, catheter, and pharmacological treatment alternatives.

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