Cyberonics, Inc. (NASDAQ:CYBX) reported on Friday that its net income surged 39% in the fiscal third quarter as it sold further of its nerve stimulation devices, and it lifts its view for the year.
Cyberonics creates implants that are designed to treat epilepsy and depression by delivering electrical stimulation to the vagus nerve.
The firm reported that net income in the November-January quarter surged to $13.2M, or 47 cents a share, from $9.5M, or 34 cents a share. Revenue moved up to 15%, to $62.7M from $54.5M.
Analysts forecasted profit of 38 cents a share on $60.6M in revenue, according to FactSet.
Shares of Cyberonics, Inc.(NASDAQ:CYBX) opened at $48.00 with 27.72 million outstanding shares and touch its highest price of $48.00 of the day and then finished at $46.65 by scoring +5.23%, as in the whole session stocks gain volume of 1.55 million shares which is higher than its average volume.
As the owner ship concerns stock institutional ownership remained 92.20% while insider ownership included 2.85%. The share capital of CYBX has 27.59 million outstanding shares amid them 26.61 million shares have been floated in market.
For investors focus on the performance of the stocks so the CYBX showed weekly ahead performance of +2.37% which was maintained for the month at +6.07%. Correspondingly the negative performance for the quarter was remained -11.76% and if took notice on yearly performance that was +35.85% whereas the year to date performance halted at -11.19%.
As the moving toward the returns measures returns on Investment ratio is significant measure which investor should have in consideration, the CYBX return on investment was recorded as 21.95% as compare to its rivals has EnteroMedics Inc (NASDAQ:ETRM)’s ROI -88.83%, Boston Scientific Corporation (NYSE:BSX)’s ROI -23.34%, Volcano Corporation (NASDAQ:VOLC)’s ROI 7.93%, Medtronic, Inc. (NYSE:MDT)’s ROI 11.93%.
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