Canaccord Genuity Maintains a 'Hold' on Cyberonics (CYBX); Weak OUS Sales Impact Qtr and Guidance; US Strength Continues
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Price: $69.95 --0%
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Hold' on Cyberonics (NASDAQ: CYBX), PT lowered to $26.50.
Canaccord analyst, William J. Plovanic, said, "We maintain our rating following a weaker-than-expected quarter and lower-than-expected forward guidance. We note that stronger-than-expected US sales were more than offset by continued weakness OUS. The company’s US business was driven by very strong replacement unit results. While encouraged by continued US performance, we believe recent changes to OUS distribution are unlikely to immediately benefit the company."
For more ratings news on Cyberonics click here and for the rating history of Cyberonics click here.
Shares of Cyberonics closed at $29.05 yesterday.
Canaccord analyst, William J. Plovanic, said, "We maintain our rating following a weaker-than-expected quarter and lower-than-expected forward guidance. We note that stronger-than-expected US sales were more than offset by continued weakness OUS. The company’s US business was driven by very strong replacement unit results. While encouraged by continued US performance, we believe recent changes to OUS distribution are unlikely to immediately benefit the company."
For more ratings news on Cyberonics click here and for the rating history of Cyberonics click here.
Shares of Cyberonics closed at $29.05 yesterday.
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