Cyberonics Reports Quarter And Annual Results
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Canaccord Genuity Raised Price Target on Cyberonics (CYBX) Ahead of Sorin Group Merger
June 5, 2015 8:56 AM EDTCanaccord Genuity maintains a Hold raating on Cyberonics (NASDAQ: CYBX), and raised the price target to $65.00 (from $62.00), ahead of pending a merger with Sorin Group. Analyst Jason Mills remains cautiously optimistic about the potential.
Mills commented, "We are taking over coverage of CYBX ahead of the pending merger with Sorin Group. Commensurate with the thinking of our partner, Bill Plovanic, we remain cautiously optimistic about the potential for accretive revenue and operating synergies in the wake of this combination. While F4Q top-line results underwhelmed relative to expectations, namely in the US, the... More
Cyberonics (CYBX) Tops Q4 EPS by 1c
June 4, 2015 7:02 AM EDTCyberonics (NASDAQ: CYBX) reported Q4 EPS of $0.64, $0.01 better than the analyst estimate of $0.63. Revenue for the quarter came in at $74.1 million versus the consensus estimate of $77.44 million.
Results and objectives
"For the seventh consecutive year, the Cyberonics team delivered record net sales and operating income," commented Dan Moore, Cyberonics' President and Chief Executive Officer. "We are pleased to report continuation of our consistent multi-year sales and profit growth. We achieved our two most important regulatory approvals with the recent announcement of our U.S. approval for the AspireSR generator, along with the... More
