Cynosure Inc. (CYNO) Stock Price Down 1.6%
Shares of Cynosure Inc. (NASDAQ:CYNO) were down 1.6% during mid-day trading on Tuesday . The stock traded as low as $52.97 and last traded at $53.09, with a volume of 63,104 shares trading hands. The stock had previously closed at $53.97.
Several equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Cynosure from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Leerink Swann reiterated 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. Stifel Nicolaus reiterated a “buy” rating and issued a $62.00 target price (up from $57.00) on shares of Cynosure in a report on Wednesday, July 27th. Finally, Northland Securities set a $60.00 target price on shares of Cynosure and gave the company a “buy” rating in a report on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $59.17.
The company has a market cap of $1.25 billion and a PE ratio of 62.37. The company has a 50-day moving average of $52.35 and a 200 day moving average of $46.78.
Cynosure (NASDAQ:CYNO) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.07. The company earned $110.30 million during the quarter, compared to analyst estimates of $101.31 million. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter last year, the business earned $0.30 EPS. Equities research analysts anticipate that Cynosure Inc. will post $1.34 earnings per share for the current year.
In related news, CFO Timothy W. Baker sold 2,041 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $53.19, for a total value of $108,560.79. Following the completion of the sale, the chief financial officer now owns 2,041 shares in the company, valued at $108,560.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael R. Davin sold 4,222 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $53.18, for a total transaction of $224,525.96. Following the transaction, the chairman now owns 4,222 shares of the company’s stock, valued at $224,525.96. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Cynosure stock. Rhumbline Advisers raised its stake in shares of Cynosure Inc. (NASDAQ:CYNO) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,195 shares of the company’s stock after buying an additional 1,980 shares during the period. Rhumbline Advisers owned 0.13% of Cynosure worth $1,304,000 as of its most recent filing with the SEC.
Cynosure Inc (Cynosure) 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, reduce fat through laser lipolysis, reduce cellulite, clear nails infected by toe fungus, ablate sweat glands and improve gynecologic health.
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