Cardiovascular Systems Inc (NASDAQ:CSII) – Research analysts at Leerink Swann lowered their Q1 2019 earnings estimates for shares of Cardiovascular Systems in a report released on Monday, September 10th, according to Zacks Investment Research. Leerink Swann analyst D. Antalffy now anticipates that the medical device company will post earnings per share of ($0.09) for the quarter, down from their previous forecast of ($0.01). Leerink Swann also issued estimates for Cardiovascular Systems’ Q2 2019 earnings at ($0.05) EPS, Q3 2019 earnings at ($0.03) EPS, Q4 2019 earnings at $0.06 EPS, FY2019 earnings at ($0.12) EPS, Q1 2020 earnings at ($0.07) EPS, Q2 2020 earnings at ($0.03) EPS, Q3 2020 earnings at $0.00 EPS, Q4 2020 earnings at $0.10 EPS and FY2020 earnings at $0.00 EPS.
Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings results on Monday, July 30th. The medical device company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Cardiovascular Systems had a return on equity of 1.36% and a net margin of 0.79%. The company had revenue of $59.15 million for the quarter, compared to analyst estimates of $58.43 million.
Several other analysts have also weighed in on the company. BidaskClub lowered Cardiovascular Systems from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Stifel Nicolaus started coverage on Cardiovascular Systems in a report on Wednesday, August 22nd. They set a “buy” rating and a $45.00 price target on the stock. Zacks Investment Research lowered Cardiovascular Systems from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 12th. Bank of America upgraded Cardiovascular Systems from an “underperform” rating to a “buy” rating in a report on Wednesday, June 27th. Finally, Lake Street Capital restated a “buy” rating and set a $50.00 price target on shares of Cardiovascular Systems in a report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Cardiovascular Systems has an average rating of “Hold” and a consensus target price of $35.20.
NASDAQ:CSII traded down $0.53 during midday trading on Wednesday, hitting $37.90. 256,716 shares of the company traded hands, compared to its average volume of 271,834. Cardiovascular Systems has a 12-month low of $20.58 and a 12-month high of $40.00. The firm has a market capitalization of $1.31 billion, a PE ratio of 758.00 and a beta of 2.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.03 and a current ratio of 4.47.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Gabelli Funds LLC grew its position in shares of Cardiovascular Systems by 0.8% during the 1st quarter. Gabelli Funds LLC now owns 240,000 shares of the medical device company’s stock worth $5,263,000 after buying an additional 2,000 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Cardiovascular Systems by 1.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 155,138 shares of the medical device company’s stock worth $3,402,000 after buying an additional 2,022 shares in the last quarter. Partner Investment Management L.P. grew its position in shares of Cardiovascular Systems by 31.2% during the 2nd quarter. Partner Investment Management L.P. now owns 11,329 shares of the medical device company’s stock worth $366,000 after buying an additional 2,695 shares in the last quarter. Swiss National Bank grew its position in shares of Cardiovascular Systems by 5.5% during the 1st quarter. Swiss National Bank now owns 57,800 shares of the medical device company’s stock worth $1,268,000 after buying an additional 3,000 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Cardiovascular Systems during the 2nd quarter worth $114,000. 84.55% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Scott R. Ward purchased 2,500 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were acquired at an average price of $38.39 per share, with a total value of $95,975.00. Following the transaction, the chief executive officer now owns 278,362 shares of the company’s stock, valued at $10,686,317.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sandra Sedo sold 862 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $37.52, for a total value of $32,342.24. Following the transaction, the insider now directly owns 22,634 shares in the company, valued at approximately $849,227.68. The disclosure for this sale can be found here. Insiders sold a total of 3,177 shares of company stock worth $119,274 in the last ninety days. 3.30% of the stock is currently owned by corporate insiders.
About Cardiovascular Systems
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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