Insider Selling: Cyberonics SVP Sells 13,000 Shares of Stock (CYBX)
Cyberonics (NASDAQ:CYBX) SVP Milton Mayo Morris sold 13,000 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $57.15, for a total transaction of $742,950.00. Following the transaction, the senior vice president now directly owns 34,146 shares of the company’s stock, valued at approximately $1,951,444. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Cyberonics (NASDAQ:CYBX) traded down 0.36% during mid-day trading on Wednesday, hitting $55.82. The stock had a trading volume of 300,587 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 $59.12 and a 200-day moving average of $61.91. The company has a market cap of $1.486 billion and a price-to-earnings ratio of 25.53.
Cyberonics (NASDAQ:CYBX) last posted its quarterly earnings results on Thursday, August 21st. The company reported $0.53 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.48 earnings per share. Cyberonics’s revenue was up 4.5% compared to the same quarter last year. Analysts expect that Cyberonics will post $2.33 EPS for the current fiscal year.
A number of research firms have recently commented on CYBX. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Cyberonics in a research note on Friday, August 22nd. They now have a $67.00 price target on the stock, down previously from $70.00. Separately, analysts at Canaccord Genuity downgraded shares of Cyberonics from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. They now have a $52.00 price target on the stock, down previously from $63.00. Finally, 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. Two 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 $63.50.
Cyberonics, Inc (NASDAQ:CYBX) is a medical device company.
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