Cynosure Inc. (CYNO) Stock Rating Lowered by TheStreet
Cynosure Inc. (NASDAQ:CYNO) was downgraded by investment analysts at TheStreet from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
CYNO has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Cynosure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 19th. Brean Capital reaffirmed a “buy” rating on shares of Cynosure in a research note on Monday, October 24th. Leerink Swann reaffirmed an “outperform” rating and set a $60.00 price objective (down previously from $63.00) on shares of Cynosure in a research note on Friday, October 28th. Northcoast Research reaffirmed a “buy” rating on shares of Cynosure in a research note on Monday. Finally, Stifel Nicolaus reissued a “buy” rating and set a $58.00 target price (down previously from $62.00) on shares of Cynosure in a research report on Wednesday, October 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $60.43.
Shares of Cynosure (NASDAQ:CYNO) opened at 43.65 on Wednesday. The stock has a market capitalization of $1.04 billion, a PE ratio of 49.32 and a beta of 1.71. Cynosure has a 52-week low of $32.90 and a 52-week high of $55.94. The firm has a 50-day moving average of $46.63 and a 200 day moving average of $49.53.
Cynosure (NASDAQ:CYNO) last announced its earnings results on Tuesday, October 25th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Cynosure had a net margin of 4.97% and a return on equity of 6.82%. The firm earned $106.40 million during the quarter, compared to the consensus estimate of $101.11 million. During the same quarter in the previous year, the company posted $0.21 EPS. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. Equities research analysts forecast that Cynosure will post $1.28 EPS for the current fiscal year.
In other Cynosure news, Director Brian M. Barefoot sold 21,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $51.66, for a total value of $1,084,860.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $258,300. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CYNO. Suntrust Banks Inc. boosted its position in Cynosure by 0.8% in the third quarter. Suntrust Banks Inc. now owns 4,373 shares of the company’s stock worth $222,000 after buying an additional 36 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Cynosure by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,220 shares of the company’s stock worth $266,000 after buying an additional 90 shares in the last quarter. Texas Permanent School Fund boosted its position in Cynosure by 0.5% in the third quarter. Texas Permanent School Fund now owns 18,079 shares of the company’s stock worth $921,000 after buying an additional 93 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Cynosure by 1.0% in the third quarter. Louisiana State Employees Retirement System now owns 10,500 shares of the company’s stock worth $535,000 after buying an additional 100 shares in the last quarter. Finally, Comerica Bank boosted its position in Cynosure by 0.6% in the second quarter. Comerica Bank now owns 23,953 shares of the company’s stock worth $1,300,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 99.98% of the company’s stock.
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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