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Cyberonics (NASDAQ:CYBX) was downgraded by Canaccord Genuity from a “buy” rating to a “hold” rating in a research note issued on Friday, TheFlyOnTheWall.com reports. They currently have a $52.00 price objective on the stock, down from their previous price objective of $63.00. Canaccord Genuity’s target price would suggest a potential downside of 10.76% from the stock’s previous close.

CYBX has been the subject of a number of other recent research reports. 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 three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $64.75.

Cyberonics (NASDAQ:CYBX) opened at 58.27 on Friday. 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 $60.03 and its 200-day moving average is $62.54. The company has a market cap of $1.554 billion and a P/E ratio of 29.14.

Cyberonics (NASDAQ:CYBX) last issued its quarterly earnings data on Thursday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.02. The company had revenue of $72.00 million for the quarter, compared to the consensus estimate of $74.10 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts predict that Cyberonics will post $2.36 earnings per share for the current fiscal year.

In other Cyberonics news, CEO Daniel Jeffrey Moore sold 7,000 shares of Cyberonics stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $60.74, for a total transaction of $425,180.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cyberonics, Inc (NASDAQ:CYBX) is a medical device company.

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