Prepare Yourself for Liftoff: Cardiovascular Systems Inc. (CSII)

Cardiovascular Systems Inc. (NASDAQ: CSII) stock jumped 3.83% on Wednesday to $14.08 against a previous-day closing price of $13.56. With 0.47 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.27 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $14.14 whereas the lowest price it dropped to was $13.49. The 52-week range on CSII shows that it touched its highest point at $24.76 and its lowest point at $12.26 during that stretch. It currently has a 1-year price target of $20.00. Beta for the stock currently stands at 0.87.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CSII was down-trending over the past week, with a drop of -1.33%, but this was down by -4.48% over a month. Three-month performance dropped to -5.69% while six-month performance fell -14.20%. The stock lost -38.94% in the past year, while it has lost -25.03% so far this year. A look at the trailing 12-month EPS for CSII yields -0.99 with Next year EPS estimates of -0.52. For the next quarter, that number is -0.15. This implies an EPS growth rate of -172.40% for this year and 25.00% for next year.

Float and Shares Shorts:

At present, 41.88 million CSII shares are outstanding with a float of 40.29 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.46 million, which was 3.48% higher than short shares on Sep 14, 2022. In addition to Mr. Scott Raymond Ward B.Sc., M.S., MS as the firm’s Chairman, Pres & CEO, Mr. Jeffrey S. Points serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 91.73% of CSII’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.65% of CSII, in contrast to 37.97% held by mutual funds. Shares owned by individuals account for 30.26%. As the largest shareholder in CSII with 16.07% of the stake, BlackRock Fund Advisors holds 6,581,420 shares worth 6,581,420. A second-largest stockholder of CSII, Brown Capital Management LLC, holds 3,423,447 shares, controlling over 8.36% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CSII, holding 2,665,104 shares or 6.51% stake. With a 7.39% stake in CSII, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 3,026,226 shares are owned by the mutual fund manager. The Brown Capital Management – Small, which owns about 7.34% of CSII stock, is the second-largest Mutual Fund holder. It holds 3,006,873 shares valued at 43.42 million. Vanguard Total Stock Market Index holds 2.82% of the stake in CSII, owning 1,154,654 shares worth 16.67 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CSII since 7 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CSII analysts setting a high price target of $30.00 and a low target of $14.00, the average target price over the next 12 months is $20.00. Based on these targets, CSII could surge 113.07% to reach the target high and fall by -0.57% to reach the target low. Reaching the average price target will result in a growth of 42.05% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CSII will report FY 2023 earnings on 08/02/2023. Analysts have provided yearly estimates in a range of -$0.61 being high and -$0.77 being low. For CSII, this leads to a yearly average estimate of -$0.68. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cardiovascular Systems Inc. surprised analysts by -$0.04 when it reported -$0.27 EPS against a consensus estimate of -$0.23. The surprise factor in the prior quarter was -$0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.13 and the low estimate is -$0.25. The average estimate for the next quarter is thus -$0.17.

Summary of Insider Activity:

Insiders traded CSII stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.

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