Syneron Medical Ltd. (ELOS) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Syneron Medical Ltd. (NASDAQ:ELOS) issued its earnings results on Wednesday. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. The firm earned $71.50 million during the quarter, compared to analysts’ expectations of $68.08 million. Syneron Medical had a return on equity of 3.16% and a net margin of 1.04%. Syneron Medical’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business earned $0.03 earnings per share.
Syneron Medical (NASDAQ:ELOS) opened at 7.35 on Friday. Syneron Medical has a 1-year low of $6.11 and a 1-year high of $8.47. The firm’s 50-day moving average price is $7.35 and its 200 day moving average price is $7.11. The firm’s market capitalization is $259.27 million.
ELOS has been the subject of several research reports. Brean Capital reaffirmed a “buy” rating on shares of Syneron Medical in a research report on Monday, October 24th. Zacks Investment Research raised Syneron Medical from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Tuesday, October 11th. Finally, Leerink Swann cut Syneron Medical from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $9.40 to $7.80 in a research report on Friday, August 5th.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Brandes Investment Partners LP raised its position in Syneron Medical by 25.4% in the third quarter. Brandes Investment Partners LP now owns 3,414,913 shares of the company’s stock valued at $24,450,000 after buying an additional 691,378 shares during the period. Drill Craig A raised its position in Syneron Medical by 962.5% in the third quarter. Drill Craig A now owns 1,700,000 shares of the company’s stock valued at $12,172,000 after buying an additional 1,540,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in Syneron Medical during the second quarter valued at $6,755,000. Royce & Associates LP raised its position in Syneron Medical by 10.5% in the second quarter. Royce & Associates LP now owns 788,159 shares of the company’s stock valued at $6,061,000 after buying an additional 75,000 shares during the period. Finally, Menora Mivtachim Holdings LTD. bought a new position in Syneron Medical during the second quarter valued at $3,798,000. 72.25% of the stock is currently owned by hedge funds and other institutional investors.
About Syneron Medical
Syneron Medical Ltd. is engaged in the manufacture, research, development, marketing and sale of 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, which uses the synergy between electrical energy, including radiofrequency (RF) energy, and optical energy to provide aesthetic medical treatments.
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