Insider Selling: Cyberonics SVP Unloads 2,000 Shares of Stock (CYBX)
Cyberonics (NASDAQ:CYBX) SVP David S. Wise sold 2,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $56.33, for a total value of $112,660.00. Following the sale, the senior vice president now directly owns 72,120 shares in the company, valued at approximately $4,062,520. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $63.50.
Shares of Cyberonics (NASDAQ:CYBX) remained flat at $55.82 during trading on Thursday. 190,863 shares of the company’s stock traded hands. 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 $59.00 and its 200-day moving average is $61.79. The company has a market cap of $1.486 billion and a P/E ratio of 25.44.
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.
Cyberonics, Inc (NASDAQ:CYBX) is a medical device company.
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