Cardiovascular Systems, Inc. (NASDAQ:CSII) released its quarterly earnings data on Tuesday. The medical device company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01, Bloomberg Earnings reports. The business 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 0.88% and a negative net margin of 0.87%. Cardiovascular Systems’s revenue was down .2% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share.
Shares of Cardiovascular Systems (NASDAQ CSII) traded down 0.47% during mid-day trading on Wednesday, hitting $25.40. The stock had a trading volume of 366,465 shares. Cardiovascular Systems has a 12 month low of $21.92 and a 12 month high of $33.11. The firm has a 50 day moving average price of $28.27 and a 200-day moving average price of $30.13. The stock’s market cap is $837.97 million.
Several analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Cardiovascular Systems in a research note on Thursday, October 12th. Zacks Investment Research lowered Cardiovascular Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Raymond James Financial, Inc. assumed coverage on Cardiovascular Systems in a research note on Friday, September 22nd. They issued a “market perform” rating on the stock. Citigroup Inc. assumed coverage on Cardiovascular Systems in a research note on Thursday, September 21st. They issued a “market perform” rating on the stock. Finally, BidaskClub lowered Cardiovascular Systems from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Three analysts have rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Cardiovascular Systems currently has a consensus rating of “Hold” and an average price target of $34.25.
In other news, CEO Scott R. Ward sold 5,529 shares of the 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 transaction, the chief executive officer now directly owns 282,536 shares in the company, valued at approximately $8,591,919.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Kevin J. Kenny sold 4,733 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $30.74, for a total value of $145,492.42. Following the transaction, the chief operating officer now owns 153,339 shares in the company, valued at $4,713,640.86. The disclosure for this sale can be found here. Insiders have sold a total of 51,065 shares of company stock worth $1,514,031 over the last quarter. Corporate insiders own 3.30% 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.