$64.03 Million in Sales Expected for Cardiovascular Systems Inc (NASDAQ:CSII) This Quarter

Brokerages expect Cardiovascular Systems Inc (NASDAQ:CSII) to announce sales of $64.03 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Cardiovascular Systems’ earnings. The highest sales estimate is $64.48 million and the lowest is $63.70 million. Cardiovascular Systems reported sales of $56.27 million during the same quarter last year, which indicates a positive year over year growth rate of 13.8%. The business is expected to issue its next quarterly earnings results on Tuesday, October 29th.

On average, analysts expect that Cardiovascular Systems will report full year sales of $280.42 million for the current year, with estimates ranging from $278.60 million to $281.86 million. For the next year, analysts anticipate that the firm will report sales of $317.09 million, with estimates ranging from $315.80 million to $319.65 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Cardiovascular Systems.

Cardiovascular Systems (NASDAQ:CSII) last released its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $68.23 million during the quarter, compared to the consensus estimate of $66.04 million. Cardiovascular Systems had a negative net margin of 0.10% and a negative return on equity of 0.18%.



CSII has been the subject of several analyst reports. Stifel Nicolaus downgraded shares of Cardiovascular Systems from a “buy” rating to a “hold” rating and lifted their price target for the company from $41.00 to $45.00 in a report on Tuesday, July 16th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Cardiovascular Systems from a “hold” rating to a “strong sell” rating and set a $47.00 price target for the company. in a report on Thursday, August 8th. BidaskClub raised shares of Cardiovascular Systems from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Lake Street Capital lifted their price target on shares of Cardiovascular Systems from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cardiovascular Systems in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Cardiovascular Systems currently has a consensus rating of “Hold” and an average price target of $48.50.

Hedge funds have recently made changes to their positions in the stock. Piedmont Investment Advisors Inc. bought a new position in shares of Cardiovascular Systems in the first quarter worth about $340,000. PNC Financial Services Group Inc. raised its stake in shares of Cardiovascular Systems by 281,288.5% in the first quarter. PNC Financial Services Group Inc. now owns 73,161 shares of the medical device company’s stock worth $2,830,000 after acquiring an additional 73,135 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Cardiovascular Systems in the first quarter worth about $435,000. Meeder Asset Management Inc. raised its stake in shares of Cardiovascular Systems by 2,291.5% in the first quarter. Meeder Asset Management Inc. now owns 21,356 shares of the medical device company’s stock worth $826,000 after acquiring an additional 20,463 shares during the last quarter. Finally, Mason Street Advisors LLC bought a new position in shares of Cardiovascular Systems in the first quarter worth about $432,000. 92.30% of the stock is owned by hedge funds and other institutional investors.

CSII stock traded up $1.29 during trading on Friday, hitting $48.30. 217,200 shares of the stock traded hands, compared to its average volume of 383,665. Cardiovascular Systems has a one year low of $24.84 and a one year high of $49.37. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -4,830.00 and a beta of 1.77. The company has a 50 day simple moving average of $44.80 and a 200 day simple moving average of $39.54. The company has a current ratio of 4.25, a quick ratio of 3.83 and a debt-to-equity ratio of 0.14.

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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Earnings History and Estimates for Cardiovascular Systems (NASDAQ:CSII)

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