Cynosure, Inc. (NASDAQ:CYNO) released its quarterly earnings results on Tuesday. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. The firm had revenue of $122.10 million for the quarter, compared to analysts’ expectations of $119.97 million. Cynosure had a return on equity of 6.82% and a net margin of 4.97%. The company’s revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS.
Shares of Cynosure (NASDAQ:CYNO) opened at 52.20 on Thursday. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 58.98 and a beta of 1.65. The firm has a 50-day moving average price of $46.75 and a 200-day moving average price of $48.37. Cynosure has a 52 week low of $34.47 and a 52 week high of $55.94.
Several research firms have recently weighed in on CYNO. Aegis reissued a “buy” rating and set a $60.00 price target on shares of Cynosure in a report on Tuesday, January 24th. Northland Securities set a $60.00 price target on Cynosure and gave the company a “buy” rating in a report on Monday, January 23rd. Zacks Investment Research cut Cynosure from a “hold” rating to a “sell” rating in a report on Monday, January 9th. TheStreet raised Cynosure from a “hold” rating to a “buy” rating in a report on Wednesday, January 4th. Finally, Northcoast Research cut Cynosure from a “buy” rating to a “sell” rating and set a $40.00 price target on the stock. in a report on Friday, January 6th. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $57.88.
In other news, Chairman Michael R. Davin sold 16,284 shares of the business’s stock in a transaction 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 sale, the chairman now directly owns 4,222 shares of the company’s stock, valued at $189,990. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Douglas J. Delaney sold 7,875 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $354,375.00. Following the sale, the vice president now directly owns 5,833 shares in the company, valued at $262,485. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System increased its position in Cynosure by 0.4% in the second quarter. New York State Teachers Retirement System now owns 46,856 shares of the company’s stock worth $2,279,000 after buying an additional 200 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Cynosure by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the company’s stock worth $506,000 after buying an additional 200 shares in the last quarter. Capital Fund Management S.A. acquired a new position in Cynosure during the second quarter worth about $238,000. Supplemental Annuity Collective Trust of NJ acquired a new position in Cynosure during the second quarter worth about $486,000. Finally, Drill Craig A acquired a new position in Cynosure during the second quarter worth about $17,721,000.
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.