Cardiovascular Systems, Inc. (NASDAQ:CSII) released its quarterly earnings results on Tuesday. The medical device company reported ($0.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.01, Bloomberg Earnings reports. The business had revenue of $49.70 million during the quarter, compared to analyst estimates of $51.00 million. Cardiovascular Systems had a negative net margin of 0.87% and a positive return on equity of 0.88%. The business’s revenue was down .2% on a year-over-year basis. During the same period last year, the business earned ($0.06) EPS.
Shares of Cardiovascular Systems (NASDAQ CSII) traded down 0.47% on Wednesday, reaching $25.40. 366,465 shares of the company’s stock traded hands. The firm’s market capitalization is $837.97 million. Cardiovascular Systems has a 52 week low of $21.92 and a 52 week high of $33.11. The company’s 50-day moving average is $28.27 and its 200-day moving average is $30.13.
In related news, Director Edward M. Brown sold 13,031 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $29.09, for a total transaction of $379,071.79. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward M. Brown sold 20,000 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $29.16, for a total transaction of $583,200.00. The disclosure for this sale can be found here. Insiders have sold 51,065 shares of company stock worth $1,514,031 in the last ninety days. 3.30% of the stock is currently owned by insiders.
A number of equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $37.00 price target (up from $32.00) on shares of Cardiovascular Systems in a report on Friday, July 14th. BidaskClub lowered shares of Cardiovascular Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Zacks Investment Research lowered shares of Cardiovascular Systems from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Raymond James Financial, Inc. assumed coverage on shares of Cardiovascular Systems in a report on Friday, September 22nd. They set a “market perform” rating for the company. Finally, Citigroup Inc. started coverage on shares of Cardiovascular Systems in a report on Thursday, September 21st. They set a “market perform” rating for the company. Three analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $34.25.
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.