Zacks: Brokerages Anticipate Cytosorbents Corp (CTSO) Will Announce Quarterly Sales of $5.08 Million

Equities research analysts expect Cytosorbents Corp (NASDAQ:CTSO) to announce sales of $5.08 million for the current quarter, according to Zacks. Four analysts have provided estimates for Cytosorbents’ earnings. The highest sales estimate is $5.33 million and the lowest is $4.90 million. Cytosorbents posted sales of $3.57 million in the same quarter last year, which suggests a positive year over year growth rate of 42.3%. The business is expected to issue its next quarterly earnings results on Thursday, November 8th.

On average, analysts expect that Cytosorbents will report full year sales of $22.59 million for the current financial year, with estimates ranging from $21.71 million to $23.35 million. For the next financial year, analysts anticipate that the firm will report sales of $32.41 million per share, with estimates ranging from $27.68 million to $38.24 million. Zacks’ sales averages are an average based on a survey of analysts that cover Cytosorbents.

Cytosorbents (NASDAQ:CTSO) last issued its quarterly earnings data on Thursday, August 2nd. The medical research company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.07). Cytosorbents had a negative net margin of 74.60% and a negative return on equity of 100.51%. The company had revenue of $5.76 million during the quarter, compared to the consensus estimate of $5.08 million.



Several research firms have recently weighed in on CTSO. BidaskClub cut shares of Cytosorbents from a “buy” rating to a “hold” rating in a research report on Friday. Cowen reiterated a “buy” rating and set a $15.00 price objective on shares of Cytosorbents in a research report on Friday, August 3rd. Maxim Group set a $13.00 price objective on shares of Cytosorbents and gave the stock a “buy” rating in a research report on Tuesday, May 15th. ValuEngine upgraded shares of Cytosorbents from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Cytosorbents in a research report on Wednesday, May 9th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $13.31.

In other Cytosorbents news, CFO Kathleen P. Bloch sold 10,000 shares of the firm’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $8.50, for a total value of $85,000.00. Following the transaction, the chief financial officer now directly owns 263,304 shares of the company’s stock, valued at $2,238,084. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Vincent Capponi sold 7,154 shares of the firm’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $9.00, for a total transaction of $64,386.00. Following the completion of the transaction, the chief operating officer now directly owns 321,551 shares in the company, valued at $2,893,959. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,989 shares of company stock worth $1,042,667. 6.90% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in CTSO. BlackRock Inc. lifted its position in shares of Cytosorbents by 1,156.8% during the second quarter. BlackRock Inc. now owns 1,706,847 shares of the medical research company’s stock valued at $19,459,000 after purchasing an additional 1,571,041 shares in the last quarter. Millennium Management LLC lifted its position in shares of Cytosorbents by 134.4% during the first quarter. Millennium Management LLC now owns 384,330 shares of the medical research company’s stock valued at $2,710,000 after purchasing an additional 220,353 shares in the last quarter. Bradley Foster & Sargent Inc. CT bought a new position in shares of Cytosorbents during the second quarter valued at about $1,591,000. EAM Global Investors LLC bought a new position in shares of Cytosorbents during the second quarter valued at about $1,366,000. Finally, EAM Investors LLC lifted its position in shares of Cytosorbents by 107.9% during the second quarter. EAM Investors LLC now owns 178,690 shares of the medical research company’s stock valued at $2,037,000 after purchasing an additional 92,723 shares in the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CTSO traded up $0.55 during trading hours on Thursday, hitting $11.55. 167,806 shares of the stock were exchanged, compared to its average volume of 247,577. Cytosorbents has a fifty-two week low of $4.50 and a fifty-two week high of $13.40. The company has a quick ratio of 8.60, a current ratio of 8.82 and a debt-to-equity ratio of 0.46. The stock has a market cap of $346.05 million, a PE ratio of -36.09 and a beta of 0.14.

Cytosorbents Company Profile

Cytosorbents Corporation, a critical care focused immunotherapy company, engages in the research, development, and commercialization of medical devices with its blood purification technology platform incorporating a proprietary adsorbent and porous polymer technology worldwide. The company's flagship product is CytoSorb device, an extracorporeal cytokine filter designed for the adjunctive therapy in the treatment of sepsis; adjunctive therapy in other critical care applications; prevention and treatment of post-operative complications of cardiopulmonary bypass surgery; and prevention and treatment of organ dysfunction in brain-dead organ donors to increase the number and quality of viable organs harvested from donors.

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