Cardiovascular Systems (CSII) Releases Earnings Results, Beats Estimates By $0.03 EPS
Cardiovascular Systems (NASDAQ:CSII) issued its quarterly earnings data on Wednesday. The medical device company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03, Briefing.com reports. Cardiovascular Systems had a negative net margin of 0.93% and a positive return on equity of 0.74%. The business had revenue of $52.63 million during the quarter, compared to analysts’ expectations of $53.39 million. During the same period last year, the company posted $0.03 EPS. The company’s revenue was up 5.2% on a year-over-year basis. Cardiovascular Systems updated its Q3 guidance to ($0.03)-$0.00 EPS.
Shares of Cardiovascular Systems (NASDAQ:CSII) traded down $1.91 on Thursday, hitting $23.10. 468,328 shares of the company’s stock were exchanged, compared to its average volume of 239,917. The firm has a market cap of $841.44, a price-to-earnings ratio of -387.44 and a beta of 2.32. Cardiovascular Systems has a 52 week low of $22.62 and a 52 week high of $33.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.83 and a current ratio of 4.30.
A number of research analysts have recently weighed in on the stock. Leerink Swann dropped their price objective on shares of Cardiovascular Systems from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday. William Blair restated a “market perform” rating on shares of Cardiovascular Systems in a research report on Thursday, December 21st. ValuEngine lowered shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. BidaskClub upgraded shares of Cardiovascular Systems from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $36.00 target price (down previously from $37.00) on shares of Cardiovascular Systems in a research report on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Cardiovascular Systems has a consensus rating of “Hold” and a consensus target price of $26.50.
About Cardiovascular Systems
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.
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.