The Mason Street Advisors LLC Invests $224,000 in Cynosure Inc. (CYNO)

The Mason Street Advisors LLC Invests $224,000 in Cynosure Inc. (CYNO)

Mason Street Advisors LLC bought a new stake in shares of Cynosure Inc. (NASDAQ:CYNO) during the second quarter, Holdings Channel reports. The fund bought 4,599 shares of the company’s stock, valued at approximately $224,000.

Other institutional investors have also bought and sold shares of the company. Comerica Bank raised its stake in Cynosure by 0.6% in the second quarter. Comerica Bank now owns 23,953 shares of the company’s stock valued at $1,300,000 after buying an additional 140 shares in the last quarter. PineBridge Investments L.P. raised its stake 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 in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Cynosure by 1.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 17,125 shares of the company’s stock valued at $833,000 after buying an additional 179 shares in the last quarter. New York State Teachers Retirement System raised its stake 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 valued at $2,279,000 after buying an additional 200 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Cynosure by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the company’s stock valued at $506,000 after buying an additional 200 shares in the last quarter. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Cynosure Inc. (NASDAQ:CYNO) opened at 50.96 on Wednesday. The stock has a 50 day moving average price of $51.53 and a 200 day moving average price of $49.64. The stock has a market cap of $1.21 billion, a PE ratio of 60.17 and a beta of 1.65. Cynosure Inc. has a 1-year low of $31.46 and a 1-year high of $55.94.

Cynosure (NASDAQ:CYNO) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. Cynosure had a net margin of 5.09% and a return on equity of 6.57%. The business earned $110.30 million during the quarter, compared to analysts’ expectations of $101.31 million. During the same period last year, the company posted $0.30 EPS. The company’s revenue was up 31.8% on a year-over-year basis. On average, analysts predict that Cynosure Inc. will post $1.34 EPS for the current fiscal year.

Several research firms recently weighed in on CYNO. Northland Securities set a $60.00 price target on Cynosure and gave the company a “buy” rating in a research report on Wednesday, July 27th. Stifel Nicolaus restated a “buy” rating and set a $62.00 price target (up from $57.00) on shares of Cynosure in a research report on Wednesday, July 27th. Maxim Group lifted their price target on Cynosure from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Zacks Investment Research raised Cynosure from a “hold” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a report on Wednesday, July 27th. Finally, Brean Capital reissued a “buy” rating and issued a $60.00 target price (up from $54.00) on shares of Cynosure in a report on Thursday, July 28th. Seven investment analysts have rated the stock with a buy rating, Cynosure currently has an average rating of “Buy” and an average target price of $61.40.

In related news, CFO Timothy W. Baker sold 2,041 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $53.19, for a total transaction of $108,560.79. Following the sale, the chief financial officer now owns 2,041 shares in the company, valued at $108,560.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brian M. Barefoot sold 21,000 shares of the firm’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 transaction of $1,084,860.00. Following the sale, the director now owns 5,000 shares in the company, valued at approximately $258,300. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

About Cynosure

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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