Analysts Set Expectations for Cardiovascular Systems, Inc.’s Q2 2018 Earnings (CSII)
Cardiovascular Systems, Inc. (NASDAQ:CSII) – Equities researchers at Leerink Swann issued their Q2 2018 earnings per share (EPS) estimates for Cardiovascular Systems in a research note issued to investors on Monday. Leerink Swann analyst D. Antalffy forecasts that the medical device company will earn ($0.01) per share for the quarter. Leerink Swann also issued estimates for Cardiovascular Systems’ FY2018 earnings at $0.00 EPS, Q3 2019 earnings at $0.10 EPS and FY2022 earnings at $0.85 EPS.
CSII has been the topic of several other research reports. BidaskClub lowered shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Bank of America Corporation lowered shares of Cardiovascular Systems from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 21st. Needham & Company LLC restated a “buy” rating and set a $37.00 target price (up previously from $32.00) on shares of Cardiovascular Systems in a report on Friday, July 14th. Finally, Zacks Investment Research lowered shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Three analysts have rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. Cardiovascular Systems currently has an average rating of “Hold” and a consensus target price of $33.83.
Cardiovascular Systems (NASDAQ CSII) traded up 1.69% during mid-day trading on Tuesday, hitting $27.71. The stock had a trading volume of 93,076 shares. The company has a 50 day moving average price of $29.97 and a 200-day moving average price of $30.14. Cardiovascular Systems has a one year low of $21.29 and a one year high of $33.11. The company’s market cap is $914.18 million.
Cardiovascular Systems (NASDAQ:CSII) last posted its quarterly earnings data on Wednesday, August 2nd. The medical device company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.07. Cardiovascular Systems had a positive return on equity of 0.88% and a negative net margin of 0.87%. The business had revenue of $52.90 million for the quarter, compared to analyst estimates of $51.98 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share. The company’s revenue was up 9.1% on a year-over-year basis.
In other news, CFO Laurence L. Betterley sold 4,443 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $30.74, for a total value of $136,577.82. Following the completion of the sale, the chief financial officer now owns 223,557 shares of the company’s stock, valued at approximately $6,872,142.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott R. Ward sold 5,529 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $30.41, for a total transaction of $168,136.89. Following the completion of the sale, the chief executive officer now directly owns 282,536 shares of the company’s stock, valued at approximately $8,591,919.76. The disclosure for this sale can be found here. Insiders sold a total of 51,065 shares of company stock worth $1,514,031 in the last quarter. 3.60% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC increased its position in shares of Cardiovascular Systems by 22.7% in the 2nd quarter. Jennison Associates LLC now owns 12,567 shares of the medical device company’s stock worth $405,000 after purchasing an additional 2,323 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Cardiovascular Systems by 26.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 33,672 shares of the medical device company’s stock worth $952,000 after purchasing an additional 7,072 shares during the last quarter. Caxton Associates LP bought a new stake in shares of Cardiovascular Systems in the 1st quarter worth about $246,000. Paloma Partners Management Co bought a new stake in shares of Cardiovascular Systems in the 1st quarter worth about $749,000. Finally, Timpani Capital Management LLC increased its position in shares of Cardiovascular Systems by 24.2% in the 2nd quarter. Timpani Capital Management LLC now owns 116,397 shares of the medical device company’s stock worth $3,751,000 after purchasing an additional 22,649 shares during the last quarter. 74.70% of the stock is owned by institutional investors.
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.
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