Wall Street analysts forecast that Cardiovascular Systems Inc (NASDAQ:CSII) will post sales of $55.96 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Cardiovascular Systems’ earnings. The highest sales estimate is $56.77 million and the lowest is $55.17 million. Cardiovascular Systems posted sales of $49.68 million in the same quarter last year, which suggests a positive year over year growth rate of 12.6%. The company is scheduled to issue its next quarterly earnings results on Wednesday, October 24th.

On average, analysts expect that Cardiovascular Systems will report full-year sales of $244.23 million for the current year, with estimates ranging from $243.60 million to $244.89 million. For the next year, analysts expect that the company will post sales of $280.95 million, with estimates ranging from $276.85 million to $286.60 million. Zacks’ sales averages are an average based on a survey of analysts that follow Cardiovascular Systems.

Cardiovascular Systems (NASDAQ:CSII) last issued its quarterly earnings data on Monday, July 30th. The medical device company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $59.15 million during the quarter, compared to analysts’ expectations of $58.43 million. Cardiovascular Systems had a return on equity of 1.36% and a net margin of 0.79%.

CSII has been the subject of several research reports. ValuEngine raised Cardiovascular Systems from a “hold” rating to a “buy” rating in a report on Friday, July 6th. BidaskClub cut Cardiovascular Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 28th. Bank of America raised Cardiovascular Systems from an “underperform” rating to a “buy” rating in a report on Wednesday, June 27th. Lake Street Capital reaffirmed a “buy” rating and set a $50.00 price objective on shares of Cardiovascular Systems in a report on Wednesday, August 1st. Finally, Stifel Nicolaus assumed coverage on Cardiovascular Systems in a report on Wednesday, August 22nd. They set a “buy” rating and a $45.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $35.20.

Shares of CSII stock opened at $37.77 on Thursday. The firm has a market cap of $1.27 billion, a P/E ratio of 759.40 and a beta of 2.45. Cardiovascular Systems has a 1 year low of $20.58 and a 1 year high of $40.00. The company has a quick ratio of 4.03, a current ratio of 4.47 and a debt-to-equity ratio of 0.16.

In other Cardiovascular Systems news, CFO Jeffrey S. Points sold 971 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $37.54, for a total transaction of $36,451.34. Following the completion of the transaction, the chief financial officer now owns 23,229 shares of the company’s stock, valued at $872,016.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott R. Ward purchased 2,500 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were bought at an average cost of $38.39 per share, with a total value of $95,975.00. Following the transaction, the chief executive officer now directly owns 278,362 shares of the company’s stock, valued at approximately $10,686,317.18. The disclosure for this purchase can be found here. Insiders have sold 3,177 shares of company stock valued at $119,274 in the last three months. 3.30% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp increased its position in Cardiovascular Systems by 2.7% during the second quarter. Northern Trust Corp now owns 436,597 shares of the medical device company’s stock worth $14,120,000 after buying an additional 11,508 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Cardiovascular Systems in the second quarter valued at $354,000. California Public Employees Retirement System grew its position in shares of Cardiovascular Systems by 116.1% in the second quarter. California Public Employees Retirement System now owns 40,200 shares of the medical device company’s stock valued at $1,300,000 after purchasing an additional 21,600 shares during the period. Granahan Investment Management Inc. MA grew its position in shares of Cardiovascular Systems by 31.8% in the second quarter. Granahan Investment Management Inc. MA now owns 381,056 shares of the medical device company’s stock valued at $12,323,000 after purchasing an additional 92,042 shares during the period. Finally, Millennium Management LLC grew its position in shares of Cardiovascular Systems by 2,442.1% in the second quarter. Millennium Management LLC now owns 290,916 shares of the medical device company’s stock valued at $9,408,000 after purchasing an additional 279,472 shares during the period. 84.55% of the stock is owned by institutional investors.

About Cardiovascular Systems

Cardiovascular Systems, Inc, a medical device company, develops, manufactures, and commercializes various devices to treat vascular and coronary diseases in the United States. The company offers peripheral arterial disease products, including Diamondback 360 Peripheral, Predator 360, Stealth 360 Peripheral Orbital Atherectomy System (OAS), Diamondback 360 60cm Peripheral OAS, Diamondback 360 Low Profile Peripheral, Diamondback 360 1.50 Peripheral, Diamondback 360 2.00 Peripheral, Diamondback 360 200cm Peripheral, and Diamondback 360 180cm Peripheral, which are catheter-based platforms for treating a range of plaque types in leg arteries above and below the knee, including calcified plaque, as well as address various limitations associated with surgical, catheter, and pharmacological treatment alternatives.

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