Cyberonics Inc.

The Zacks Rank Buys featured last week were: Apollo Group (APOL - Analyst Report), Corinthian Colleges Inc. (COCO - Snapshot Report), Huron Consulting Group Inc. (HURN - Snapshot Report), and Biogen Idec Inc. (BIIB - Analyst Report).

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Cyberonics Inc. (CYBX - Analyst Report) earnings estimates are rising since being featured as a Zacks Rank Buy in early December.

Company Description

Cyberonics Inc. develops and markets medical devices specifically focused on neurological disorders, including epilepsy, one of the most common neurological disorders. The company uses vagus nerve stimulation through its Cyberonics NCP System to reduce the severity and frequency of seizures.

Cyberonics distributes its products in North and South America, Asia, and Europe. The Houston-based medical products company has approximately 440 employees and a market cap. of $443 million.

Estimates Rising as Report Nears

Full-year consensus estimates for both fiscal 2009 and 2010 are up over the past 90 days. The average forecast for the current year is 47 cents, up from 32 cents, a 47% increase. Estimates for 2010 are now 66 cents, up from 54 cents over the same time period.

The company is set to report third-quarter results on Feb 18. If current expectations are met, year-over-year earnings growth till be 205% and 40% in 2009 and 2010, respectively.

Given an exceptional long-term growth rate of 35% over the next 5 years, shares are trading with a PEG ratio of 1.0.

The Chart

After forming a double bottom near $10 in October and November, shares of CYBX started to climb steadily. Take a look at the chart below.

Read the December 11th Feature Here

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Read the full analyst report on CYBX