Analysts Anticipate Cardiovascular Systems Inc (CSII) Will Post Quarterly Sales of $62.64 Million

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Brokerages forecast that Cardiovascular Systems Inc (NASDAQ:CSII) will announce $62.64 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Cardiovascular Systems’ earnings, with estimates ranging from $62.15 million to $63.00 million. Cardiovascular Systems posted sales of $55.59 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.7%. The business is scheduled to announce its next quarterly earnings results on Wednesday, May 1st.

On average, analysts expect that Cardiovascular Systems will report full-year sales of $245.24 million for the current fiscal year, with estimates ranging from $243.96 million to $246.80 million. For the next financial year, analysts forecast that the firm will post sales of $277.68 million, with estimates ranging from $274.86 million to $279.70 million. Zacks’ sales 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, January 30th. The medical device company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. The business had revenue of $60.21 million during the quarter, compared to analyst estimates of $59.66 million. Cardiovascular Systems had a return on equity of 1.28% and a net margin of 0.74%.

CSII has been the subject of several research analyst reports. BidaskClub raised Cardiovascular Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 5th. ValuEngine raised Cardiovascular Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Zacks Investment Research reissued a “hold” rating on shares of Cardiovascular Systems in a research report on Monday, November 12th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $47.50.

NASDAQ:CSII traded up $0.79 during trading hours on Friday, hitting $40.27. 761,630 shares of the company were exchanged, compared to its average volume of 232,710. The firm has a market cap of $1.22 billion, a P/E ratio of 879.25 and a beta of 2.09. The company has a quick ratio of 3.88, a current ratio of 4.38 and a debt-to-equity ratio of 0.15. Cardiovascular Systems has a one year low of $20.89 and a one year high of $41.13.

A number of hedge funds have recently modified their holdings of CSII. Partner Fund Management L.P. raised its holdings in Cardiovascular Systems by 57.2% during the 4th quarter. Partner Fund Management L.P. now owns 1,599,867 shares of the medical device company’s stock valued at $45,580,000 after acquiring an additional 581,950 shares during the period. Norges Bank bought a new position in shares of Cardiovascular Systems in the fourth quarter worth $14,258,000. BlackRock Inc. increased its holdings in shares of Cardiovascular Systems by 12.5% in the fourth quarter. BlackRock Inc. now owns 2,901,471 shares of the medical device company’s stock worth $82,663,000 after purchasing an additional 322,994 shares during the period. Teachers Advisors LLC increased its holdings in shares of Cardiovascular Systems by 420.6% in the third quarter. Teachers Advisors LLC now owns 317,801 shares of the medical device company’s stock worth $12,439,000 after purchasing an additional 256,759 shares during the period. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of Cardiovascular Systems in the third quarter worth $8,766,000. 80.59% of the stock is currently owned by institutional investors and hedge funds.

About Cardiovascular Systems

Cardiovascular Systems, Inc is a medical device company, which engages in the development and commercialization of solutions for treating vascular and coronary disease. It offers orbital atherectomy systems for both peripheral and coronary commercial applications. Its products are primarily catheter-based platforms capable of treating a range of vessel sizes and plaque types.

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