Cynosure Inc. (NASDAQ:CYNO) has received an average recommendation of “Buy” from the seven brokerages that are presently covering the company. Seven equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $61.40.
Several research analysts have recently commented on the stock. Northland Securities set a $60.00 price target on shares of Cynosure and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Stifel Nicolaus restated a “buy” rating and set a $62.00 price target (up previously from $57.00) on shares of Cynosure in a research note on Wednesday, July 27th. Maxim Group increased their price target on shares of Cynosure from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Zacks Investment Research upgraded shares of Cynosure from a “hold” rating to a “strong-buy” rating and set a $62.00 price target on the stock in a research note on Wednesday, July 27th. Finally, Brean Capital restated a “buy” rating and set a $60.00 price target (up previously from $54.00) on shares of Cynosure in a research note on Thursday, July 28th.
Shares of Cynosure (NASDAQ:CYNO) opened at 50.61 on Tuesday. The stock has a 50 day moving average of $51.88 and a 200-day moving average of $48.97. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 59.75 and a beta of 1.54. Cynosure has a 52 week low of $29.98 and a 52 week high of $55.94.
Cynosure (NASDAQ:CYNO) last released its earnings results on Tuesday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Cynosure had a net margin of 5.09% and a return on equity of 6.57%. The company earned $110.30 million during the quarter, compared to the consensus estimate of $101.31 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 31.8% compared to the same quarter last year. Equities research analysts expect that Cynosure will post $1.34 earnings per share for the current year.
In related news, CFO Timothy W. Baker sold 5,834 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $53.35, for a total value of $311,243.90. Following the transaction, the chief financial officer now directly owns 5,834 shares in the company, valued at approximately $311,243.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian M. Barefoot sold 21,000 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $51.66, for a total transaction of $1,084,860.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $258,300. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of CYNO. Drill Craig A bought a new stake in Cynosure during the second quarter valued at about $17,721,000. Mesirow Financial Investment Management Equity Management bought a new stake in Cynosure during the second quarter valued at about $17,333,000. Emerald Acquisition Ltd. bought a new stake in Cynosure during the second quarter valued at about $12,241,000. Principal Financial Group Inc. raised its stake in Cynosure by 138.5% in the second quarter. Principal Financial Group Inc. now owns 391,455 shares of the company’s stock valued at $19,042,000 after buying an additional 227,338 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Cynosure by 22.2% in the second quarter. Vanguard Group Inc. now owns 1,244,754 shares of the company’s stock valued at $60,551,000 after buying an additional 225,978 shares in the last quarter. Institutional investors own 99.51% of the company’s stock.
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.
Receive News & Ratings for Cynosure Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cynosure Inc. and related companies with MarketBeat.com's FREE daily email newsletter.