Cyberonics’s “Neutral” Rating Reaffirmed at Zacks (CYBX)
Cyberonics (NASDAQ:CYBX)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Wednesday. They currently have a $66.00 target price on the stock. Zacks‘s price target indicates a potential upside of 5.62% from the stock’s previous close.
Zacks’ analyst wrote, “Cyberonics posted a meaningful 19.6% rise in its fourth-quarter fiscal 2014 EPS to $0.55, and a healthy 9.5% increase in revenues to $74.8 million. However, the bottom line remained on par with the Zacks Consensus Estimate while the top line missed the benchmark of $74.8 million by a whisker. Cyberonics continues to gain from a solid foothold in the epilepsy market and strong overseas business. Further penetration in the still untapped epilepsy market should catalyze growth. The company’s lucrative pipeline is another upside. Attractive share buyback continues to boost investors’ return. However, the reimbursement headwind remains a major downside. The margin pressure represents yet another area of concern. The company also faces a tough competitive landscape and a challenging macroeconomic scenario. Thus, we reiterate Cyberonics at Neutral.”
In other Cyberonics news, SVP Milton Mayo Morris unloaded 9,224 shares of the stock on the open market in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $58.06, for a total value of $535,545.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of other analysts have also recently weighed in on CYBX. Analysts at Sterne Agee initiated coverage on shares of Cyberonics in a research note on Tuesday, June 24th. They set a “buy” rating and a $65.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Cyberonics in a research note on Tuesday, June 10th. They now have a $70.00 price target on the stock, down previously from $80.00. Finally, 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $66.80.
Cyberonics (NASDAQ:CYBX) traded down 0.74% on Wednesday, hitting $62.03. The stock had a trading volume of 140,050 shares. Cyberonics has a 52-week low of $49.65 and a 52-week high of $73.52. The stock has a 50-day moving average of $59.99 and a 200-day moving average of $64.04. The company has a market cap of $1.655 billion and a price-to-earnings ratio of 31.25.
Cyberonics (NASDAQ:CYBX) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue 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.
Cyberonics, Inc (NASDAQ:CYBX) is a medical device company.
To view Zacks’ full report, visit Zacks’ official website.
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