Cardiovascular Systems, Inc. Forecasted to Earn Q3 2017 Revenue of ($0.02) Per Share (CSII)

Cardiovascular Systems, Inc. Forecasted to Earn Q3 2017 Revenue of ($0.02) Per Share (CSII)

Cardiovascular Systems, Inc. (NASDAQ:CSII) – Equities research analysts at Feltl & Co. boosted their Q3 2017 EPS estimates for shares of Cardiovascular Systems in a research note issued to investors on Thursday. Feltl & Co. analyst B. Haynor now forecasts that the brokerage will earn ($0.02) per share for the quarter, up from their prior estimate of ($0.03). Feltl & Co. currently has a “Strong-Buy” rating and a $30.00 target price on the stock. Feltl & Co. also issued estimates for Cardiovascular Systems’ Q4 2017 earnings at ($0.02) EPS, FY2017 earnings at ($0.11) EPS and FY2018 earnings at $0.15 EPS.

Other research analysts have also recently issued reports about the company. JMP Securities began coverage on Cardiovascular Systems in a research report on Friday, October 7th. They issued an “outperform” rating and a $35.00 target price on the stock. Zacks Investment Research raised Cardiovascular Systems from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Tuesday, October 4th. Leerink Swann reissued an “outperform” rating and issued a $30.00 target price on shares of Cardiovascular Systems in a research report on Tuesday, November 15th. Needham & Company LLC raised their target price on Cardiovascular Systems from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. Finally, Lake Street Capital began coverage on Cardiovascular Systems in a research report on Monday. They issued a “buy” rating and a $40.00 target price on the stock. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $32.83.

Shares of Cardiovascular Systems (NASDAQ:CSII) traded up 2.47% on Monday, hitting $25.31. The stock had a trading volume of 97,491 shares. Cardiovascular Systems has a 52 week low of $7.50 and a 52 week high of $27.38. The firm has a 50-day moving average price of $25.00 and a 200-day moving average price of $23.75. The stock’s market capitalization is $814.70 million.

Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings data on Wednesday, January 25th. The medical device company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.09. Cardiovascular Systems had a negative return on equity of 15.72% and a negative net margin of 14.74%. The company earned $50 million during the quarter, compared to analyst estimates of $49.72 million. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. Cardiovascular Systems’s revenue was up 20.9% on a year-over-year basis.

In other Cardiovascular Systems news, Director Edward M. Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $24.95, for a total transaction of $249,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Laura Gillund sold 1,268 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $26.79, for a total value of $33,969.72. Following the transaction, the insider now owns 69,541 shares of the company’s stock, valued at approximately $1,863,003.39. The disclosure for this sale can be found here. Insiders sold 21,797 shares of company stock worth $565,447 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in Cardiovascular Systems by 39.4% in the third quarter. BNP Paribas Arbitrage SA now owns 5,445 shares of the medical device company’s stock valued at $129,000 after buying an additional 1,540 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in Cardiovascular Systems during the third quarter valued at $215,000. Partner Investment Management L.P. purchased a new position in Cardiovascular Systems during the third quarter valued at $245,000. BlackRock Group LTD boosted its position in Cardiovascular Systems by 4.1% in the third quarter. BlackRock Group LTD now owns 12,172 shares of the medical device company’s stock valued at $289,000 after buying an additional 477 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC boosted its position in Cardiovascular Systems by 45.8% in the second quarter. Weiss Multi Strategy Advisers LLC now owns 14,580 shares of the medical device company’s stock valued at $268,000 after buying an additional 4,580 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Cardiovascular Systems Company Profile

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.

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