Jefferies Group Lowers Cyberonics Price Target to $70.00 (CYBX)
Investment analysts at Jefferies Group decreased their price objective on shares of Cyberonics (NASDAQ:CYBX) from $80.00 to $70.00 in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price points to a potential upside of 16.11% from the company’s current price.
Shares of Cyberonics (NASDAQ:CYBX) traded down 2.69% on Tuesday, hitting $58.67. 154,407 shares of the company’s stock traded hands. Cyberonics has a 52 week low of $49.65 and a 52 week high of $73.52. The stock’s 50-day moving average is $60.78 and its 200-day moving average is $65.08. The company has a market cap of $1.573 billion and a price-to-earnings ratio of 30.15.
Cyberonics (NASDAQ:CYBX) last announced its earnings results on Wednesday, June 4th. The company reported $0.55 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.01. The company had revenue of $74.80 million for the quarter, compared to the consensus estimate of $76.70 million. During the same quarter last year, the company posted $0.46 earnings per share. Cyberonics’s revenue was up 9.5% compared to the same quarter last year. On average, analysts predict that Cyberonics will post $2.37 earnings per share for the current fiscal year.
In other Cyberonics news, CEO Daniel Jeffrey Moore sold 4,750 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $57.20, for a total transaction of $271,700.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Cyberonics in a research note on Thursday, June 5th. They now have a $70.00 price target on the stock, down previously from $85.00. Separately, analysts at Canaccord Genuity cut their price target on shares of Cyberonics from $73.00 to $63.00 in a research note on Thursday, June 5th. They now have a “buy” rating on the stock. Finally, analysts at BTIG Research initiated coverage on shares of Cyberonics in a research note on Thursday, April 24th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Cyberonics presently has an average rating of “Buy” and a consensus target price of $68.00.
Cyberonics, Inc (NASDAQ:CYBX) is a medical device company.
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