$62.64 Million in Sales Expected for Cardiovascular Systems Inc (CSII) This Quarter

Wall Street brokerages predict that Cardiovascular Systems Inc (NASDAQ:CSII) will report sales of $62.64 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Cardiovascular Systems’ earnings. The highest sales estimate is $63.00 million and the lowest is $62.15 million. Cardiovascular Systems posted sales of $55.59 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.7%. The business is expected to report its next earnings report on Wednesday, May 1st.

According to Zacks, analysts expect that Cardiovascular Systems will report full year sales of $245.24 million for the current fiscal year, with estimates ranging from $243.96 million to $246.80 million. For the next fiscal year, analysts anticipate that the firm will post sales of $277.68 million, with estimates ranging from $274.86 million to $279.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Cardiovascular Systems.

Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings data on Wednesday, January 30th. The medical device company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. Cardiovascular Systems had a return on equity of 1.28% and a net margin of 0.74%. The business had revenue of $60.21 million for the quarter, compared to the consensus estimate of $59.66 million.

A number of equities research analysts recently commented on CSII shares. BidaskClub upgraded Cardiovascular Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, January 22nd. Zacks Investment Research upgraded Cardiovascular Systems from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Monday, March 18th. Finally, ValuEngine upgraded Cardiovascular Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $46.33.

Several large investors have recently bought and sold shares of CSII. Partner Fund Management L.P. lifted its position in shares of Cardiovascular Systems by 57.2% in the fourth quarter. Partner Fund Management L.P. now owns 1,599,867 shares of the medical device company’s stock worth $45,580,000 after buying an additional 581,950 shares in the last quarter. Norges Bank bought a new stake in Cardiovascular Systems during the fourth quarter worth approximately $14,258,000. BlackRock Inc. increased its stake in Cardiovascular Systems by 12.5% during the fourth quarter. BlackRock Inc. now owns 2,901,471 shares of the medical device company’s stock worth $82,663,000 after acquiring an additional 322,994 shares during the last quarter. Teachers Advisors LLC increased its stake in Cardiovascular Systems by 420.6% during the third quarter. Teachers Advisors LLC now owns 317,801 shares of the medical device company’s stock worth $12,439,000 after acquiring an additional 256,759 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Cardiovascular Systems during the third quarter worth approximately $8,766,000. Institutional investors own 84.54% of the company’s stock.

Shares of Cardiovascular Systems stock traded up $0.93 during trading hours on Monday, hitting $38.66. The company’s stock had a trading volume of 467,042 shares, compared to its average volume of 968,638. Cardiovascular Systems has a 12-month low of $20.89 and a 12-month high of $42.64. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 773.20 and a beta of 2.15. The company has a quick ratio of 3.88, a current ratio of 4.38 and a debt-to-equity ratio of 0.15.

Cardiovascular Systems Company Profile

Cardiovascular Systems, Inc is a medical device company, which engages in the development and commercialization of solutions for treating vascular and coronary disease. It offers orbital atherectomy systems for both peripheral and coronary commercial applications. Its products are primarily catheter-based platforms capable of treating a range of vessel sizes and plaque types.

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

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