Cyberonics’s Buy Rating Reaffirmed at Citigroup Inc. (CYBX)
Cyberonics (NASDAQ:CYBX)‘s stock had its “buy” rating reiterated by equities research analysts at Citigroup Inc. in a research note issued to investors on Friday. They currently have a $67.00 price objective on the stock, down from their previous price objective of $70.00. Citigroup Inc.’s price objective would indicate a potential upside of 14.98% from the stock’s previous close.
Cyberonics (NASDAQ:CYBX) traded down 2.61% on Friday, hitting $56.75. The stock had a trading volume of 246,225 shares. Cyberonics has a one year low of $49.65 and a one year high of $73.52. The stock has a 50-day moving average of $60.03 and a 200-day moving average of $62.54. The company has a market cap of $1.514 billion and a P/E ratio of 29.14.
Cyberonics (NASDAQ:CYBX) last announced its earnings results on Thursday, August 21st. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters 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. Analysts expect that Cyberonics will post $2.36 EPS for the current fiscal year.
In other Cyberonics news, CEO Daniel Jeffrey Moore sold 7,000 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $60.74, for a total transaction of $425,180.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other analysts have also recently weighed in on CYBX. Analysts at Canaccord Genuity downgraded shares of Cyberonics from a “buy” rating to a “hold” rating in a research note on Friday. They now have a $52.00 price target on the stock, down previously from $63.00. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $63.50.
Cyberonics, Inc (NASDAQ:CYBX) is a medical device company.
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