Zacks Investment Research upgraded shares of Syneron Medical Ltd. (NASDAQ:ELOS) from a hold rating to a buy rating in a research report report published on Tuesday. They currently have $8.00 price target on the stock.
According to Zacks, “Syneron Medical Ltd. manufactures and distributes medical aesthetic devices that are powered by the proprietary, patented ELOS combined-energy technology of Bi-Polar Radio Frequency and Light. The Company’s innovative ELOS technology provides the foundation for highly effective, safe and cost-effective systems that enable physicians to provide advanced solutions for a broad range of medical-aesthetic applications. “
A number of other analysts have also recently weighed in on the company. Brean Capital reiterated a buy rating and set a $13.00 price target on shares of Syneron Medical in a research report on Monday, August 8th. Leerink Swann cut Syneron Medical from an outperform rating to a market perform rating and dropped their price target for the stock from $9.40 to $7.80 in a research report on Friday, August 5th.
Shares of Syneron Medical (NASDAQ:ELOS) opened at 7.28 on Tuesday. Syneron Medical has a 52-week low of $6.10 and a 52-week high of $8.47. The stock’s market capitalization is $256.80 million. The firm’s 50-day moving average price is $6.84 and its 200-day moving average price is $7.06.
Syneron Medical (NASDAQ:ELOS) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $75 million for the quarter, compared to analysts’ expectations of $75.72 million. Syneron Medical had a positive return on equity of 2.88% and a negative net margin of 1.42%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. Equities analysts forecast that Syneron Medical will post $0.27 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in Syneron Medical by 5.8% in the first quarter. Geode Capital Management LLC now owns 21,010 shares of the company’s stock valued at $152,000 after buying an additional 1,159 shares in the last quarter. State Street Corp boosted its stake in Syneron Medical by 112.1% in the second quarter. State Street Corp now owns 46,038 shares of the company’s stock valued at $354,000 after buying an additional 24,337 shares in the last quarter. California Public Employees Retirement System boosted its stake in Syneron Medical by 17.2% in the second quarter. California Public Employees Retirement System now owns 93,825 shares of the company’s stock valued at $722,000 after buying an additional 13,800 shares in the last quarter. Drill Craig A boosted its stake in Syneron Medical by 272.1% in the second quarter. Drill Craig A now owns 160,000 shares of the company’s stock valued at $1,230,000 after buying an additional 117,000 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Syneron Medical during the second quarter valued at approximately $1,473,000. Hedge funds and other institutional investors own 72.44% of the company’s stock.
Syneron Medical Company Profile
Syneron Medical Ltd. is engaged in the manufacture, research, development, marketing and sale of equipment for the aesthetic medical industry and systems for dermatologists, plastic surgeons and other qualified practitioners. The Company designs, develops and markets aesthetic medical products based on its various technologies, including Electro-Optical Synergy (ELOS) technology, which uses the synergy between electrical energy, including radiofrequency (RF) energy, and optical energy to provide aesthetic medical treatments.
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