Cynosure Inc. (CYNO) Trading 4.9% Higher
Cynosure Inc. (NASDAQ:CYNO) traded up 4.9% during mid-day trading on Wednesday . The company traded as high as $50.83 and last traded at $50.74, with a volume of 294,514 shares changing hands. The stock had previously closed at $48.36.
A number of equities research analysts have issued reports on the stock. Brean Capital reissued a “buy” rating on shares of Cynosure in a report on Wednesday, April 27th. Maxim Group boosted their target price on shares of Cynosure from $52.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, April 26th. Zacks Investment Research cut shares of Cynosure from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Finally, Leerink Swann reissued a “buy” rating on shares of Cynosure in a report on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $51.20.
The stock has a 50-day moving average of $48.70 and a 200 day moving average of $43.54. The company has a market capitalization of $1.19 billion and a P/E ratio of 62.49.
Cynosure (NASDAQ:CYNO) last issued its earnings results on Tuesday, April 26th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.05. The company earned $94.70 million during the quarter, compared to analysts’ expectations of $85.78 million. During the same quarter in the prior year, the business posted $0.15 EPS. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. Equities research analysts predict that Cynosure Inc. will post $1.29 EPS for the current fiscal year.
In related news, CEO Michael R. Davin sold 61,377 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $45.01, for a total value of $2,762,578.77. Following the sale, the chief executive officer now owns 1,604 shares in the company, valued at $72,196.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Douglas J. Delaney sold 24,488 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $45.02, for a total transaction of $1,102,449.76. Following the completion of the sale, the vice president now owns 8,100 shares in the company, valued at approximately $364,662. The disclosure for this sale can be found here.
Other large investors recently modified their holdings of the company. Columbus Circle Investors boosted its stake in shares of Cynosure by 13.4% in the fourth quarter. Columbus Circle Investors now owns 992,581 shares of the company’s stock valued at $44,339,000 after buying an additional 117,543 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Cynosure by 11.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,000,000 shares of the company’s stock valued at $44,670,000 after buying an additional 100,000 shares in the last quarter. Fiduciary Management Associates LLC boosted its stake in shares of Cynosure by 20.1% in the fourth quarter. Fiduciary Management Associates LLC now owns 595,057 shares of the company’s stock valued at $26,584,000 after buying an additional 99,795 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Cynosure by 91.4% in the fourth quarter. Sei Investments Co. now owns 123,258 shares of the company’s stock valued at $5,506,000 after buying an additional 58,873 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Cynosure by 9.0% in the fourth quarter. Principal Financial Group Inc. now owns 156,189 shares of the company’s stock valued at $6,977,000 after buying an additional 12,845 shares in the last quarter.
Cynosure Inc 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, liquefy and remove unwanted fat through laser lipolysis, reduce cellulite, clear nails infected by toe fungus, ablate sweat glands and improve vaginal health.