Q2 2018 Earnings Forecast for Cardiovascular Systems, Inc. Issued By Leerink Swann (CSII)

Cardiovascular Systems, Inc. (NASDAQ:CSII) – Investment analysts at Leerink Swann reduced their Q2 2018 earnings per share estimates for Cardiovascular Systems in a report released on Thursday. Leerink Swann analyst D. Antalffy now anticipates that the medical device company will earn ($0.05) per share for the quarter, down from their prior estimate of ($0.01). Leerink Swann also issued estimates for Cardiovascular Systems’ FY2018 earnings at ($0.02) EPS and FY2021 earnings at $0.57 EPS.

Cardiovascular Systems (NASDAQ:CSII) last announced its quarterly earnings data on Wednesday, October 25th. The medical device company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $49.70 million for the quarter, compared to analyst estimates of $51.00 million. Cardiovascular Systems had a positive return on equity of 0.75% and a negative net margin of 0.93%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) EPS.

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A number of other research firms also recently commented on CSII. Needham & Company LLC reiterated a “buy” rating and set a $37.00 target price (up from $32.00) on shares of Cardiovascular Systems in a research report on Friday, July 14th. BidaskClub downgraded Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Raymond James Financial, Inc. started coverage on Cardiovascular Systems in a research report on Friday, September 22nd. They set a “market perform” rating on the stock. Citigroup Inc. started coverage on Cardiovascular Systems in a research report on Thursday, September 21st. They set a “market perform” rating on the stock. Finally, Zacks Investment Research downgraded Cardiovascular Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $35.33.

Cardiovascular Systems (NASDAQ CSII) opened at 24.64 on Monday. The stock’s market cap is $812.90 million. Cardiovascular Systems has a one year low of $22.04 and a one year high of $33.11. The firm has a 50-day moving average price of $28.00 and a 200-day moving average price of $30.07.

In other news, Director Edward M. Brown sold 13,031 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $29.09, for a total value of $379,071.79. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Laurence L. Betterley sold 4,443 shares of the company’s stock in a transaction on 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 in the company, valued at $6,872,142.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,065 shares of company stock worth $1,514,031. 3.30% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. Advisor Group Inc. lifted its position in shares of Cardiovascular Systems by 0.4% in the second quarter. Advisor Group Inc. now owns 8,165 shares of the medical device company’s stock valued at $263,000 after acquiring an additional 35 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Cardiovascular Systems by 0.6% in the first quarter. California Public Employees Retirement System now owns 31,900 shares of the medical device company’s stock valued at $902,000 after acquiring an additional 200 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Cardiovascular Systems by 2.9% in the second quarter. Legal & General Group Plc now owns 7,763 shares of the medical device company’s stock valued at $249,000 after acquiring an additional 216 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Cardiovascular Systems by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 25,114 shares of the medical device company’s stock valued at $809,000 after acquiring an additional 299 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Cardiovascular Systems by 0.7% in the second quarter. American Century Companies Inc. now owns 81,325 shares of the medical device company’s stock valued at $2,621,000 after acquiring an additional 568 shares in the last quarter. Institutional investors and hedge funds own 74.61% of the company’s stock.

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.

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

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