Equities research analysts forecast that Cardiovascular Systems Inc (NASDAQ:CSII) will report earnings of $0.04 per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Cardiovascular Systems’ earnings, with estimates ranging from $0.02 to $0.05. Cardiovascular Systems reported earnings of $0.11 per share in the same quarter last year, which suggests a negative year over year growth rate of 63.6%. The business is scheduled to announce its next earnings results on Monday, July 29th.
According to Zacks, analysts expect that Cardiovascular Systems will report full year earnings of ($0.01) per share for the current fiscal year, with EPS estimates ranging from ($0.04) to $0.00. For the next financial year, analysts forecast that the business will report earnings of $0.08 per share, with EPS estimates ranging from $0.01 to $0.12. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Cardiovascular Systems.
Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings results on Wednesday, May 1st. The medical device company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.05. Cardiovascular Systems had a net margin of 0.84% and a return on equity of 1.47%. The company had revenue of $63.31 million during the quarter, compared to analyst estimates of $62.80 million.
Several equities analysts have recently issued reports on the stock. BidaskClub raised shares of Cardiovascular Systems from a “hold” rating to a “buy” rating in a report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Cardiovascular Systems in a report on Thursday, May 2nd. Zacks Investment Research raised shares of Cardiovascular Systems from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Thursday, April 18th. Bank of America lowered shares of Cardiovascular Systems from a “buy” rating to an “underperform” rating and set a $42.00 target price for the company. in a research note on Thursday, April 11th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Cardiovascular Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $44.00.
Shares of CSII stock opened at $39.49 on Tuesday. Cardiovascular Systems has a 12-month low of $24.84 and a 12-month high of $42.64. The firm has a market capitalization of $1.38 billion, a PE ratio of 789.80 and a beta of 2.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.25 and a quick ratio of 3.78.
A number of hedge funds and other institutional investors have recently made changes to their positions in CSII. BlackRock Inc. raised its holdings in shares of Cardiovascular Systems by 87.8% in the 1st quarter. BlackRock Inc. now owns 5,449,176 shares of the medical device company’s stock valued at $210,665,000 after purchasing an additional 2,547,705 shares during the period. Royce & Associates LP raised its holdings in shares of Cardiovascular Systems by 129.1% in the 1st quarter. Royce & Associates LP now owns 79,844 shares of the medical device company’s stock valued at $3,087,000 after purchasing an additional 45,000 shares during the period. BerganKDV Wealth Management LLC bought a new stake in shares of Cardiovascular Systems in the 1st quarter valued at about $155,000. Acadian Asset Management LLC raised its holdings in shares of Cardiovascular Systems by 1,450.6% in the 1st quarter. Acadian Asset Management LLC now owns 29,756 shares of the medical device company’s stock valued at $1,151,000 after purchasing an additional 27,837 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Cardiovascular Systems by 619.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 144,781 shares of the medical device company’s stock valued at $5,597,000 after purchasing an additional 124,664 shares during the period. 85.02% of the stock is owned by hedge funds and other institutional investors.
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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