Hood River Capital Management LLC increased its stake in Cynosure Inc. (NASDAQ:CYNO) by 30.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 179,189 shares of the company’s stock after buying an additional 41,715 shares during the period. Hood River Capital Management LLC’s holdings in Cynosure were worth $8,717,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of CYNO. Meeder Asset Management Inc. bought a new stake in shares of Cynosure during the second quarter valued at about $170,000. Capital Fund Management S.A. bought a new stake in shares of Cynosure during the second quarter valued at about $238,000. BNP Paribas Arbitrage SA increased its stake in shares of Cynosure by 120.7% in the second quarter. BNP Paribas Arbitrage SA now owns 7,366 shares of the company’s stock valued at $358,000 after buying an additional 4,028 shares during the period. Menta Capital LLC bought a new stake in shares of Cynosure during the first quarter valued at about $481,000. Finally, Louisiana State Employees Retirement System increased its stake in shares of Cynosure by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the company’s stock valued at $506,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 99.51% of the company’s stock.
Shares of Cynosure Inc. (NASDAQ:CYNO) traded down 0.38% on Thursday, reaching $52.02. 242,886 shares of the company were exchanged. The firm has a 50 day moving average price of $51.68 and a 200-day moving average price of $49.35. The stock has a market capitalization of $1.23 billion, a PE ratio of 61.42 and a beta of 1.65. Cynosure Inc. has a 12-month low of $31.44 and a 12-month high of $55.94.
Cynosure (NASDAQ:CYNO) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.07. The company had revenue of $110.30 million for the quarter, compared to analysts’ expectations of $101.31 million. Cynosure had a net margin of 5.09% and a return on equity of 6.57%. Cynosure’s revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. On average, analysts predict that Cynosure Inc. will post $1.34 EPS for the current fiscal year.
Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Cynosure from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Tuesday, September 27th. Brean Capital restated a “buy” rating and set a $60.00 price objective (up from $54.00) on shares of Cynosure in a research report on Thursday, July 28th. Northland Securities set a $60.00 price target on shares of Cynosure and gave the company a “buy” rating in a research report on Wednesday, July 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $62.00 price target (up from $57.00) on shares of Cynosure in a research report on Wednesday, July 27th. Finally, Maxim Group lifted their price target on shares of Cynosure from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Seven equities research analysts have rated the stock with a buy rating, Cynosure currently has an average rating of “Buy” and an average price target of $61.40.
In other Cynosure news, Chairman Michael R. Davin sold 4,222 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $53.18, for a total value of $224,525.96. Following the sale, the chairman now directly owns 4,222 shares in the company, valued at approximately $224,525.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian M. Barefoot sold 21,000 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $51.66, for a total transaction of $1,084,860.00. Following the completion of the sale, 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 company insiders.
Cynosure Company Profile
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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