Syneron Medical Ltd. (ELOS) Sees Large Volume Increase
Syneron Medical Ltd. (NASDAQ:ELOS) saw an uptick in trading volume on Tuesday . 356,976 shares traded hands during trading, an increase of 215% from the previous session’s volume of 113,408 shares.The stock last traded at $6.81 and had previously closed at $6.74.
Several research firms have commented on ELOS. Brean Capital reaffirmed a “buy” rating and set a $13.00 price objective on shares of Syneron Medical in a research note on Tuesday, May 31st. Zacks Investment Research lowered shares of Syneron Medical from a “hold” rating to a “sell” rating in a research note on Wednesday, May 25th. Finally, Leerink Swann lowered shares of Syneron Medical from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $9.40 to $7.80 in a research note on Friday.
The company’s market capitalization is $242.49 million. The stock’s 50 day moving average price is $7.28 and its 200 day moving average price is $7.18.
Syneron Medical (NASDAQ:ELOS) last issued its earnings results on Thursday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. During the same period last year, the business earned $0.07 earnings per share. The company earned $75 million during the quarter, compared to analyst estimates of $75.72 million. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that Syneron Medical Ltd. will post $0.27 EPS for the current fiscal year.
A hedge fund recently raised its stake in Syneron Medical stock. Lapides Asset Management LLC raised its position in Syneron Medical Ltd. (NASDAQ:ELOS) by 210.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 237,800 shares of the company’s stock after buying an additional 161,200 shares during the period. Lapides Asset Management LLC owned approximately 0.65% of Syneron Medical worth $1,833,000 at the end of the most recent quarter.
Syneron Medical Ltd. is engaged in manufacture, research, development, marketing and sales of advanced 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 to provide aesthetic medical treatments.
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