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Cyberonics Inc. (CYBX) Broke Out Sharply On Strong Q2 Earnings & Guidance

Cyberonics Inc. (CYBX) reported second quarter adjusted non-GAAP income per diluted share of $0.44 Friday morning compared with $0.32 a year ago. The consensus estimate was for EPS of $0.39. The company also increased its full year 2013 adjusted EPS forecast to between $1.56 and $1.62, from prior expectations of $1.49 to $1.59. The consensus estimate is for EPS of $1.57.

Cyberonics gapped open higher Friday and rose sharply in early trade. The stock climbed further going into the close and finished up by 5.84 at $52.44, with volume at over a 2-month high. Cyberonics broke out to over a 1-month high and re-crossed its 50-day moving average.

by RTTNews Staff Writer

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