Northcoast Research Reiterates “Buy” Rating for Cynosure Inc. (CYNO)
Cynosure Inc. (NASDAQ:CYNO)‘s stock had its “buy” rating reiterated by stock analysts at Northcoast Research in a research note issued to investors on Monday.
CYNO has been the topic of several other reports. Zacks Investment Research lowered Cynosure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 19th. Brean Capital reaffirmed a “buy” rating on shares of Cynosure in a research report on Monday, October 24th. Leerink Swann reaffirmed an “outperform” rating and issued a $60.00 target price (down from $63.00) on shares of Cynosure in a research report on Friday, October 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $58.00 target price (down from $62.00) on shares of Cynosure in a research report on Wednesday, October 26th. Finally, Maxim Group increased their target price on Cynosure from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $60.43.
Cynosure (NASDAQ:CYNO) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The business had revenue of $106.40 million for the quarter, compared to analyst estimates of $101.11 million. Cynosure had a return on equity of 6.82% and a net margin of 4.97%. The business’s revenue was up 35.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS.
In other news, Director Brian M. Barefoot sold 21,000 shares of the firm’s stock in a transaction dated 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 directly owns 5,000 shares of the company’s stock, valued at approximately $258,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.90% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Fund Advisors increased its position in shares of Cynosure by 7.1% in the third quarter. BlackRock Fund Advisors now owns 1,722,652 shares of the company’s stock worth $87,752,000 after buying an additional 114,653 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Cynosure by 22.2% in the second quarter. Vanguard Group Inc. now owns 1,244,754 shares of the company’s stock worth $60,551,000 after buying an additional 225,978 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cynosure by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,154,523 shares of the company’s stock worth $56,161,000 after buying an additional 22,073 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Cynosure by 12.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 708,708 shares of the company’s stock worth $36,102,000 after buying an additional 80,700 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Cynosure by 47.6% in the third quarter. Principal Financial Group Inc. now owns 577,910 shares of the company’s stock worth $29,438,000 after buying an additional 186,455 shares during the last quarter. 99.98% of the stock is owned by institutional investors.
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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