Jefferies Raises Numbers On Cyberonics (CYBX) After "Excellent" Q3
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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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Jefferies raised estimates and its price target on Buy-rated Cyberonics (NASDAQ: CYBX) from $33 to $43 following what the firm called "excellent" F3Q results.
The firm acceleration in both de novo and replacement units drove revenue upside, and "an eye-popping 92.5% gross margin helped drive an EPS beat."
"We see little reason to question the company’s ability to deliver on its 11%-16% top-line LTGR and faster EPS growth targets. CYBX remains one of the premier small cap growth stories in medtech and we at remain Buy," the analyst commented.
Q4 EPS was raised form $0.35 to $0.36, FY12 from $1.21 to $1.25 and FY13 from $1.47 to $1.54.
For an analyst ratings summary and ratings history on Cyberonics click here. For more ratings news on Cyberonics click here.
Shares of Cyberonics closed at $37.00 yesterday.
The firm acceleration in both de novo and replacement units drove revenue upside, and "an eye-popping 92.5% gross margin helped drive an EPS beat."
"We see little reason to question the company’s ability to deliver on its 11%-16% top-line LTGR and faster EPS growth targets. CYBX remains one of the premier small cap growth stories in medtech and we at remain Buy," the analyst commented.
Q4 EPS was raised form $0.35 to $0.36, FY12 from $1.21 to $1.25 and FY13 from $1.47 to $1.54.
For an analyst ratings summary and ratings history on Cyberonics click here. For more ratings news on Cyberonics click here.
Shares of Cyberonics closed at $37.00 yesterday.
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