Zacks Investment Research upgraded shares of Cynosure Inc. (NASDAQ:CYNO) from a hold rating to a buy rating in a research report report published on Tuesday morning. They currently have $59.00 target price on the stock.
According to Zacks, “Cynosure, Inc. develops and markets aesthetic treatment systems that are used by physicians and other practitioners to perform non-invasive procedures to remove hair, treat vascular lesions, rejuvenate skin through the treatment of shallow vascular and pigmented lesions and temporarily reduce the appearance of cellulite. Cynosure’s products incorporate a broad range of laser and other light-based energy sources, including Alexandrite, pulse dye, Nd:Yag and diode lasers, as well as intense pulsed light. “
A number of other analysts have also commented on CYNO. Stifel Nicolaus reiterated a buy rating and issued a $62.00 price target (up from $57.00) on shares of Cynosure in a research note on Wednesday, July 27th. Maxim Group lifted their price target on shares of Cynosure from $60.00 to $66.00 and gave the stock a buy rating in a research note on Wednesday, July 27th. Brean Capital set a $60.00 price target on shares of Cynosure and gave the stock a buy rating in a research note on Wednesday, September 14th. Finally, Northland Securities set a $60.00 price target on shares of Cynosure and gave the stock a buy rating in a research note on Wednesday, July 27th. Seven investment analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and an average price target of $61.40.
Cynosure (NASDAQ:CYNO) traded down 0.7774% on Tuesday, reaching $52.3201. 33,897 shares of the company’s stock were exchanged. The company has a market cap of $1.24 billion, a PE ratio of 61.7711 and a beta of 1.54. The firm’s 50 day moving average price is $52.03 and its 200 day moving average price is $48.94. Cynosure has a 52-week low of $29.60 and a 52-week high of $55.94.
Cynosure (NASDAQ:CYNO) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Cynosure had a net margin of 5.09% and a return on equity of 6.57%. The firm earned $110.30 million during the quarter, compared to analyst estimates of $101.31 million. During the same period in the previous year, the business posted $0.30 earnings per share. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, analysts expect that Cynosure will post $1.34 earnings per share for the current year.
In other Cynosure news, Chairman Michael R. Davin sold 4,222 shares of Cynosure stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $53.18, for a total transaction of $224,525.96. Following the transaction, the chairman now owns 4,222 shares of the company’s stock, valued at $224,525.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy W. Baker sold 5,834 shares of Cynosure stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $53.35, for a total transaction of $311,243.90. Following the transaction, the chief financial officer now directly owns 5,834 shares in the company, valued at approximately $311,243.90. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of CYNO. Fortaleza Asset Management Inc. purchased a new position in shares of Cynosure during the second quarter valued at $117,000. Acrospire Investment Management LLC increased its position in shares of Cynosure by 57.4% in the second quarter. Acrospire Investment Management LLC now owns 2,739 shares of the company’s stock valued at $133,000 after buying an additional 999 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in shares of Cynosure during the second quarter valued at $137,000. Cubist Systematic Strategies LLC purchased a new position in shares of Cynosure during the second quarter valued at $141,000. Finally, PineBridge Investments L.P. increased its position in shares of Cynosure by 6.2% in the second quarter. PineBridge Investments L.P. now owns 2,983 shares of the company’s stock valued at $145,000 after buying an additional 174 shares in the last quarter. 99.51% of the stock is currently owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cynosure Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cynosure Inc. and related companies with MarketBeat.com's FREE daily email newsletter.