Insider Selling: Cyberonics VP Unloads 10,000 Shares of Stock (CYBX)
Cyberonics (NASDAQ:CYBX) VP Bryan D. Olin sold 10,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $58.17, for a total transaction of $581,700.00. Following the transaction, the vice president now directly owns 53,424 shares of the company’s stock, valued at approximately $3,107,674. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Cyberonics (NASDAQ:CYBX) traded down 1.73% during mid-day trading on Friday, hitting $57.39. The stock had a trading volume of 158,765 shares. Cyberonics has a one year low of $49.65 and a one year high of $73.52. The stock’s 50-day moving average is $60.42 and its 200-day moving average is $64.89. The company has a market cap of $1.539 billion and a price-to-earnings ratio of 29.20.
Cyberonics (NASDAQ:CYBX) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, analysts predict that Cyberonics will post $2.36 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CYBX shares. Analysts at Jefferies Group reiterated a “buy” rating on shares of Cyberonics in a research note on Tuesday. They now have a $70.00 price target on the stock, down previously from $80.00. Separately, 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. Finally, 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Cyberonics has a consensus rating of “Buy” and an average target price of $68.00.
Cyberonics, Inc (NASDAQ:CYBX) is a medical device company.
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