Cyberonics Inc. (CYBX) saw a big move last session, as the company’s shares fell by about 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $58.51 to $62.61 in the past one-month time frame.
This medical device company has seen a flat track record when it comes to current year estimate revisions over the past few weeks and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.
CYBX currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Medical Instruments industry include Alphatec Holdings, Inc. (ATEC), RTI Surgical Inc. (RTIX) and Bacterin International Holdings, Inc. (BONE). While Alphatec and RTI Surgical sport a Zacks Rank #1 (Strong Buy), Bacterin holds a Zacks Rank #2 (Buy).
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