Cardiovascular Systems Inc (NASDAQ:CSII) – Analysts at Svb Leerink cut their Q2 2020 earnings per share (EPS) estimates for shares of Cardiovascular Systems in a research note issued on Tuesday, August 6th, according to Zacks Investment Research. Svb Leerink analyst D. Antalffy now expects that the medical device company will post earnings per share of $0.02 for the quarter, down from their previous forecast of $0.04. Svb Leerink also issued estimates for Cardiovascular Systems’ Q3 2020 earnings at $0.02 EPS, Q4 2020 earnings at $0.05 EPS, Q1 2021 earnings at ($0.03) EPS, Q3 2021 earnings at $0.09 EPS and Q4 2021 earnings at $0.12 EPS.
Cardiovascular Systems (NASDAQ:CSII) last announced its earnings results on Tuesday, August 6th. The medical device company reported $0.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.04. The company had revenue of $68.23 million during the quarter, compared to analysts’ expectations 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 other research reports. Zacks Investment Research cut shares of Cardiovascular Systems from a “hold” rating to a “strong sell” rating and set a $47.00 price objective for the company. in a research report on Thursday, August 8th. Lake Street Capital upped their price objective on shares of Cardiovascular Systems from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. BidaskClub raised shares of Cardiovascular Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 17th. Stifel Nicolaus cut shares of Cardiovascular Systems from a “buy” rating to a “hold” rating and upped their price objective for the stock from $41.00 to $45.00 in a research report on Tuesday, July 16th. They noted that the move was a valuation call. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cardiovascular Systems in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $48.50.
CSII traded down $1.75 on Thursday, hitting $48.43. 231,488 shares of the stock were exchanged, compared to its average volume of 299,717. Cardiovascular Systems has a 12 month low of $24.84 and a 12 month high of $51.74. The business has a 50-day moving average of $46.61 and a two-hundred day moving average of $40.64. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.25 and a quick ratio of 3.83. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -4,843.00 and a beta of 1.77.
In other news, insider Sandra Sedo sold 882 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $47.06, for a total value of $41,506.92. Following the completion of the transaction, the insider now owns 51,357 shares of the company’s stock, valued at $2,416,860.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Alexander Rosenstein sold 1,136 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $47.04, for a total transaction of $53,437.44. Following the completion of the transaction, the general counsel now directly owns 79,589 shares of the company’s stock, valued at approximately $3,743,866.56. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of CSII. BlackRock Inc. increased its stake in shares of Cardiovascular Systems by 1.1% in the second quarter. BlackRock Inc. now owns 5,508,322 shares of the medical device company’s stock valued at $236,471,000 after buying an additional 59,146 shares during the period. Brown Capital Management LLC increased its stake in shares of Cardiovascular Systems by 21.7% in the second quarter. Brown Capital Management LLC now owns 4,563,352 shares of the medical device company’s stock valued at $195,905,000 after buying an additional 812,595 shares during the period. Vanguard Group Inc. increased its stake in shares of Cardiovascular Systems by 2.3% in the second quarter. Vanguard Group Inc. now owns 2,194,713 shares of the medical device company’s stock valued at $94,218,000 after buying an additional 49,401 shares during the period. Renaissance Technologies LLC increased its stake in shares of Cardiovascular Systems by 4.0% in the second quarter. Renaissance Technologies LLC now owns 1,180,100 shares of the medical device company’s stock valued at $50,662,000 after buying an additional 45,200 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of Cardiovascular Systems by 2.1% in the first quarter. New York State Common Retirement Fund now owns 535,047 shares of the medical device company’s stock valued at $20,685,000 after buying an additional 10,900 shares during the period. 94.33% of the stock is owned by hedge funds and other institutional investors.
About Cardiovascular Systems
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.