Brokerages expect that Cardiovascular Systems Inc (NASDAQ:CSII) will post earnings of ($0.02) per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Cardiovascular Systems’ earnings, with estimates ranging from ($0.03) to ($0.01). Cardiovascular Systems reported earnings per share of $0.03 during the same quarter last year, which suggests a negative year over year growth rate of 166.7%. The company is scheduled to announce its next quarterly earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that Cardiovascular Systems will report full year earnings of ($0.07) per share for the current financial year, with EPS estimates ranging from ($0.08) to ($0.04). For the next year, analysts anticipate that the business will post earnings of $0.10 per share, with EPS estimates ranging from ($0.09) to $0.28. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cardiovascular Systems.
Cardiovascular Systems (NASDAQ:CSII) last announced its earnings results on Wednesday, February 7th. The medical device company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. Cardiovascular Systems had a negative net margin of 1.62% and a negative return on equity of 0.50%. The business had revenue of $52.63 million during the quarter, compared to analysts’ expectations of $53.39 million. During the same period in the prior year, the company earned $0.03 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis.
A number of analysts have commented on the stock. Zacks Investment Research cut shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a report on Monday. Leerink Swann reduced their target price on shares of Cardiovascular Systems from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. BidaskClub lowered shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. ValuEngine lowered shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, William Blair reiterated a “market perform” rating on shares of Cardiovascular Systems in a research report on Thursday, December 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $27.00.
Shares of Cardiovascular Systems (NASDAQ:CSII) opened at $22.50 on Tuesday. Cardiovascular Systems has a twelve month low of $20.58 and a twelve month high of $33.11. The company has a market cap of $699.24, a P/E ratio of -224.98 and a beta of 2.32. The company has a current ratio of 4.65, a quick ratio of 3.83 and a debt-to-equity ratio of 0.17.
Several institutional investors and hedge funds have recently bought and sold shares of CSII. BlueCrest Capital Management Ltd bought a new position in shares of Cardiovascular Systems in the second quarter worth approximately $204,000. JPMorgan Chase & Co. boosted its position in shares of Cardiovascular Systems by 34.5% in the second quarter. JPMorgan Chase & Co. now owns 8,239 shares of the medical device company’s stock worth $265,000 after purchasing an additional 2,115 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Cardiovascular Systems in the fourth quarter worth approximately $273,000. Trexquant Investment LP bought a new position in shares of Cardiovascular Systems in the third quarter worth approximately $276,000. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Cardiovascular Systems by 9.5% in the second quarter. UBS Asset Management Americas Inc. now owns 9,193 shares of the medical device company’s stock worth $296,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 74.22% of the company’s stock.
Cardiovascular Systems Company Profile
Cardiovascular Systems, Inc is a medical technology company. The Company is engaged in treating patients suffering from peripheral and coronary artery diseases, including those with arterial calcium. The Company develops an orbital atherectomy technology for both peripheral and coronary commercial applications.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cardiovascular Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardiovascular Systems and related companies with MarketBeat.com's FREE daily email newsletter.