Cyberonics (CYBX): Price consolidating in bullish 'flag' pattern

Filed under: Earnings reports, Analyst upgrades and downgrades, Technical Analysis, Stocks to Buy

Cyberonics (NASDAQ: CYBX) designs and develops medical devices that provide vagus nerve stimulation (VNS) therapy for the treatment of epilepsy and other neurological disorders. The VNS therapy system features an implantable generator that delivers electrical signals to the brain to control seizures. It is the first medical device to be cleared by the U.S. FDA for treating epilepsy. It is also approved for use in Australia, Canada, and the European Union.

Cyberonics pleased investors last week, when it reported fiscal Q4 EPS of four cents and revenues of $33.9 million. Analysts had been looking for breakeven earnings and sales of $31.6 million. Management also guided FY09 revenues to $134-$138 million, versus Street consensus of $134.40 million. Canaccord Adams subsequently reiterated its "buy" rating on the shares and boosted its price target to $28.75.

Continue reading Cyberonics (CYBX): Price consolidating in bullish 'flag' pattern

Permalink | Email this | Comments

<map name="google_ad_map_145-1231798"><area href="http://imageads.googleadservices.com/pagead/imgclick/145-1231798?pos=0" shape="rect" coords="1,2,367,28" /><area href="http://services.google.com/feedback/abg" shape="rect" coords="384,10,453,23" /></map>