Cyberonics Inc. (CYBX) Tops 3Q Forecasts

Shares of Cyberonics Inc. (CYBX) surged over 24% to $74.88 in morning trading Thursday after the company reported results for the third quarter of fiscal 2015. The medical technology firm handed in earnings of $0.59 per share on revenue of $72.10 million, beating Wall Street estimates of $0.57 per share on revenue of $72.02 million.

Cyberonics said 3Q worldwide net sales was $72.1 million, an increase of 9% on an adjusted basis. U.S. net sales reached $57.6 million, an increase of 9%.

“Our strong sales results for the third quarter of fiscal 2015 reflect improvement in our U.S. revenues and one of our best ever international quarters,” commented Dan Moore, President and Chief Executive Officer. “We achieved record sales for our fiscal third quarter in our U.S. business.”

On valuation measures, Cyberonics Inc. shares, which currently have an average 3-month trading volume of 322,670 shares, trade at a trailing-12 P/E of 31.71, a forward P/E of 22.53 and a P/E to growth ratio of 1.44. The median Wall Street price target on the name is $70.00 with a high target of $77.00. Currently ticker boasts 6 ‘Buy’ endorsements, compared to 4 ’Holds’ and no ‘Sell’.

Profitability-wise, CYBX has a t-12 profit and operating margin of 21.88% and 32.20%, respectively. The $1.96 billion market cap company reported $116.21 million in cash vs. zero in debt in its most recent quarter.

CYBX currently prints a one year loss of about 12.20% and a year-to-date return of around 8.40%.

The chart below shows where the equity has traded over the last 52 weeks.

Cyberonics Inc. is a designer and developer of implantable medical devices to hospitals and ambulatory surgery centers. The company was founded in 1987 and is headquartered in Houston, Texas.

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