Syneron Medical Ltd. (ELOS) Sees Unusually-High Trading Volume
Shares of Syneron Medical Ltd. (NASDAQ:ELOS) saw unusually-strong trading volume on Tuesday . Approximately 61,679 shares changed hands during mid-day trading, a decline of 26% from the previous session’s volume of 83,046 shares.The stock last traded at $7.07 and had previously closed at $7.31.
Several research analysts recently commented on ELOS shares. Brean Capital reaffirmed a “buy” rating on shares of Syneron Medical in a report on Thursday, June 16th. Zacks Investment Research raised shares of Syneron Medical from a “sell” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Tuesday, April 26th.
The stock’s market capitalization is $246.33 million. The company’s 50-day moving average is $7.36 and its 200 day moving average is $7.17.
Syneron Medical (NASDAQ:ELOS) last issued its earnings results on Thursday, May 19th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. The firm earned $68.70 million during the quarter, compared to the consensus estimate of $64.38 million. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.02 EPS. On average, analysts anticipate that Syneron Medical Ltd. will post $0.27 earnings per share for the current year.
Several hedge funds and institutional investors have recently modified their holdings of ELOS. Lapides Asset Management LLC increased its position in shares of Syneron Medical by 210.4% in the fourth quarter. Lapides Asset Management LLC now owns 237,800 shares of the company’s stock valued at $1,833,000 after buying an additional 161,200 shares in the last quarter. Royce & Associates LLC boosted its position in Syneron Medical by 7.2% in the fourth quarter. Royce & Associates LLC now owns 663,159 shares of the company’s stock valued at $5,113,000 after buying an additional 44,700 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its position in Syneron Medical by 206.1% in the fourth quarter. Brandes Investment Partners LP now owns 1,745,669 shares of the company’s stock valued at $13,459,000 after buying an additional 1,175,299 shares during the last 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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