Zacks: Analysts Anticipate Cytosorbents Co. (NASDAQ:CTSO) Will Post Quarterly Sales of $11.96 Million

Analysts expect Cytosorbents Co. (NASDAQ:CTSO) to report $11.96 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Cytosorbents’ earnings, with estimates ranging from $11.50 million to $12.59 million. Cytosorbents reported sales of $10.55 million during the same quarter last year, which indicates a positive year over year growth rate of 13.4%. The business is scheduled to issue its next quarterly earnings results on Wednesday, November 3rd.

According to Zacks, analysts expect that Cytosorbents will report full year sales of $50.54 million for the current year, with estimates ranging from $46.50 million to $62.20 million. For the next year, analysts forecast that the company will post sales of $68.58 million, with estimates ranging from $52.33 million to $103.29 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Cytosorbents.

Cytosorbents (NASDAQ:CTSO) last released its quarterly earnings results on Tuesday, August 3rd. The medical research company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.08). Cytosorbents had a negative return on equity of 13.33% and a negative net margin of 22.97%. The business had revenue of $12.02 million for the quarter, compared to the consensus estimate of $12.29 million.

Separately, HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of Cytosorbents in a research report on Wednesday, August 4th.

Shares of NASDAQ:CTSO traded down $0.11 during midday trading on Wednesday, reaching $8.04. The company had a trading volume of 3,019 shares, compared to its average volume of 289,658. The company’s 50 day moving average price is $8.23 and its 200 day moving average price is $8.34. Cytosorbents has a 52-week low of $6.99 and a 52-week high of $11.68. The stock has a market cap of $348.69 million, a P/E ratio of -35.22 and a beta of 0.30.

Institutional investors have recently made changes to their positions in the stock. Avenir Corp lifted its holdings in shares of Cytosorbents by 280.8% in the 2nd quarter. Avenir Corp now owns 1,366,549 shares of the medical research company’s stock valued at $10,317,000 after purchasing an additional 1,007,679 shares during the last quarter. Skylands Capital LLC increased its position in Cytosorbents by 12.4% in the 2nd quarter. Skylands Capital LLC now owns 1,772,000 shares of the medical research company’s stock valued at $13,379,000 after acquiring an additional 194,800 shares during the period. M&G Investment Management Ltd. acquired a new position in Cytosorbents in the 2nd quarter valued at about $1,201,000. Wealth Advisory Solutions LLC acquired a new position in Cytosorbents in the 1st quarter valued at about $1,204,000. Finally, CM Management LLC acquired a new position in Cytosorbents in the 1st quarter valued at about $1,042,000. Hedge funds and other institutional investors own 39.99% of the company’s stock.

About Cytosorbents

CytoSorbents Corp. engages in the critical care immunotherapy, investigation, and commercialization of blood purification technology. Its product portfolio include CytoSorb, ContrastSorb XL, HemoDefend, VetResQ, and DrugSorb. The company was founded by Joseph Rubin on April 25, 2002 and is headquartered in Monmouth Junction, NJ.

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