Syneron Medical Ltd. (ELOS) Sees Strong Trading Volume
Syneron Medical Ltd. (NASDAQ:ELOS) saw unusually-high trading volume on Monday . Approximately 171,739 shares were traded during trading, an increase of 13% from the previous session’s volume of 152,467 shares.The stock last traded at $7.07 and had previously closed at $7.01.
ELOS has been the topic of a number of analyst reports. Brean Capital reaffirmed a “buy” rating on shares of Syneron Medical in a report on Thursday, June 16th. Zacks Investment Research downgraded shares of Syneron Medical from a “hold” rating to a “sell” rating in a report on Wednesday, May 25th. Finally, Leerink Swann downgraded shares of Syneron Medical from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $9.40 to $7.80 in a report on Friday, August 5th.
The firm has a 50-day moving average price of $7.24 and a 200 day moving average price of $7.18. The company’s market cap is $248.34 million.
Syneron Medical (NASDAQ:ELOS) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $75 million for the quarter, compared to analysts’ expectations of $75.72 million. During the same period last year, the business earned $0.07 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts predict that Syneron Medical Ltd. will post $0.27 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Syneron Medical stock. Royce & Associates LLC raised its stake in shares of Syneron Medical Ltd. (NASDAQ:ELOS) by 7.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 663,159 shares of the company’s stock after buying an additional 44,700 shares during the period. Royce & Associates LLC owned 1.82% of Syneron Medical worth $5,113,000 at the end of the most recent reporting period.
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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