Shares of Cynosure, Inc. (NASDAQ:CYNO) have been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $56.80.
Several equities research analysts have recently commented on CYNO shares. Zacks Investment Research lowered Cynosure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 19th. Brean Capital restated a “buy” rating on shares of Cynosure in a research note on Monday, October 24th. Stifel Nicolaus restated a “buy” rating and issued a $58.00 price objective (down from $62.00) on shares of Cynosure in a research note on Wednesday, October 26th. Leerink Swann reaffirmed an “outperform” rating and issued a $60.00 target price (down previously from $63.00) on shares of Cynosure in a report on Friday, October 28th. Finally, Aegis initiated coverage on shares of Cynosure in a report on Wednesday, November 2nd. They issued a “buy” rating and a $60.00 target price for the company.
In other Cynosure news, Chairman Michael R. Davin sold 16,284 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $732,780.00. Following the completion of the transaction, the chairman now owns 4,222 shares of the company’s stock, valued at approximately $189,990. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Douglas J. Delaney sold 7,875 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $354,375.00. Following the transaction, the vice president now directly owns 5,833 shares of the company’s stock, valued at approximately $262,485. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CYNO. Suntrust Banks Inc. increased its position in shares of Cynosure by 0.8% in the third quarter. Suntrust Banks Inc. now owns 4,373 shares of the company’s stock worth $222,000 after buying an additional 36 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Cynosure by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,220 shares of the company’s stock worth $266,000 after buying an additional 90 shares during the last quarter. Texas Permanent School Fund increased its position in shares of Cynosure by 0.5% in the third quarter. Texas Permanent School Fund now owns 18,079 shares of the company’s stock worth $921,000 after buying an additional 93 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Cynosure by 1.0% in the third quarter. Louisiana State Employees Retirement System now owns 10,500 shares of the company’s stock worth $535,000 after buying an additional 100 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Cynosure by 1.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 17,125 shares of the company’s stock worth $833,000 after buying an additional 179 shares during the last quarter.
Shares of Cynosure (NASDAQ:CYNO) opened at 65.925 on Wednesday. Cynosure has a 52-week low of $36.45 and a 52-week high of $65.95. The firm’s 50-day moving average price is $48.28 and its 200-day moving average price is $48.42. The stock has a market cap of $1.56 billion, a P/E ratio of 101.423 and a beta of 1.65.
Cynosure (NASDAQ:CYNO) last posted its quarterly earnings data on Tuesday, February 7th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.41 by $0.03. The firm earned $122.10 million during the quarter, compared to analyst estimates of $119.97 million. Cynosure had a return on equity of 6.86% and a net margin of 3.56%. Cynosure’s revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. Equities analysts predict that Cynosure will post $1.60 EPS for the current year.
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Cynosure Company Profile
Cynosure Inc (Cynosure) develops and markets aesthetic treatment systems that enable plastic surgeons, dermatologists and other medical practitioners to perform procedures to remove hair, treat vascular and benign pigmented lesions, remove multi-colored tattoos, revitalize the skin, reduce fat through laser lipolysis, reduce cellulite, clear nails infected by toe fungus, ablate sweat glands and improve gynecologic health.
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