Cynosure Inc. (CYNO) Chairman Michael R. Davin Sells 16,284 Shares of Stock
Cynosure Inc. (NASDAQ:CYNO) Chairman Michael R. Davin sold 16,284 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $732,780.00. Following the completion of the transaction, the chairman now owns 4,222 shares of the company’s stock, valued at $189,990. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Cynosure Inc. (NASDAQ:CYNO) traded up 0.33% on Wednesday, hitting $45.40. 29,853 shares of the stock were exchanged. The company has a 50 day moving average of $46.12 and a 200 day moving average of $49.50. Cynosure Inc. has a one year low of $32.90 and a one year high of $55.94. The stock has a market capitalization of $1.08 billion, a P/E ratio of 51.30 and a beta of 1.71.
Cynosure (NASDAQ:CYNO) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. The firm earned $106.40 million during the quarter, compared to analysts’ expectations of $101.11 million. Cynosure had a net margin of 4.97% and a return on equity of 6.82%. The business’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 earnings per share. On average, equities research analysts forecast that Cynosure Inc. will post $1.28 earnings per share for the current fiscal year.
Several research firms have recently issued reports on CYNO. Northland Securities set a $60.00 price objective on shares of Cynosure and gave the company a “buy” rating in a report on Wednesday, July 27th. Stifel Nicolaus restated a “buy” rating and set a $62.00 target price (up from $57.00) on shares of Cynosure in a report on Wednesday, July 27th. Maxim Group raised their target price on shares of Cynosure from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Aegis started coverage on shares of Cynosure in a report on Wednesday, November 2nd. They set a “buy” rating and a $60.00 target price for the company. Finally, Brean Capital restated a “buy” rating and set a $60.00 target price (up from $54.00) on shares of Cynosure in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $60.43.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fortaleza Asset Management Inc. purchased a new position in shares of Cynosure during the second quarter worth about $117,000. Acrospire Investment Management LLC boosted its position in Cynosure by 57.4% in the second quarter. Acrospire Investment Management LLC now owns 2,739 shares of the company’s stock valued at $133,000 after buying an additional 999 shares during the period. Thompson Davis & CO. Inc. bought a new position in Cynosure during the second quarter valued at $137,000. Cubist Systematic Strategies LLC bought a new position in Cynosure during the second quarter valued at $141,000. Finally, PineBridge Investments L.P. boosted its position in Cynosure by 6.2% in the second quarter. PineBridge Investments L.P. now owns 2,983 shares of the company’s stock valued at $145,000 after buying an additional 174 shares during the period. Hedge funds and other institutional investors own 98.49% 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.
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