Todays Report: The 4,044 Shares of Cynosure Inc. (CYNO) are sold by BNP Paribas Arbitrage SA

The 4,044 Shares of Cynosure Inc. (CYNO) are sold by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA cut its stake in Cynosure Inc. (NASDAQ:CYNO) by 54.9% during the third quarter, Holdings Channel reports. The firm owned 3,322 shares of the company’s stock after selling 4,044 shares during the period. BNP Paribas Arbitrage SA’s holdings in Cynosure were worth $169,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its stake in Cynosure by 5.9% in the second quarter. BlackRock Fund Advisors now owns 1,607,999 shares of the company’s stock valued at $78,221,000 after buying an additional 89,178 shares during the period. Vanguard Group Inc. raised its stake in Cynosure by 22.2% in the second quarter. Vanguard Group Inc. now owns 1,244,754 shares of the company’s stock valued at $60,551,000 after buying an additional 225,978 shares during the period. Dimensional Fund Advisors LP raised its stake in Cynosure by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,154,523 shares of the company’s stock valued at $56,161,000 after buying an additional 22,073 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Cynosure by 9.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 628,008 shares of the company’s stock valued at $30,549,000 after buying an additional 52,008 shares during the period. Finally, State Street Corp raised its stake in Cynosure by 13.5% in the second quarter. State Street Corp now owns 523,457 shares of the company’s stock valued at $25,464,000 after buying an additional 62,280 shares during the period. Hedge funds and other institutional investors own 99.51% of the company’s stock.

Shares of Cynosure Inc. (NASDAQ:CYNO) opened at 51.25 on Friday. The company’s 50-day moving average is $51.62 and its 200-day moving average is $49.44. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 60.51 and a beta of 1.65. Cynosure Inc. has a one year low of $31.46 and a one year high of $55.94.

Cynosure (NASDAQ:CYNO) last released its earnings results on Tuesday, July 26th. The company reported $0.36 earnings per share (EPS) 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 analyst estimates of $101.31 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, equities analysts predict that Cynosure Inc. will post $1.34 EPS for the current year.

CYNO has been the subject of several analyst reports. Zacks Investment Research lowered shares of Cynosure from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Brean Capital set a $60.00 target price on shares of Cynosure and gave the stock a “buy” rating in a report on Wednesday, September 14th. 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. Stifel Nicolaus restated a “buy” rating and issued a $62.00 target price (up previously from $57.00) on shares of Cynosure in a report on Wednesday, July 27th. Finally, Northland Securities set a $60.00 target price on shares of Cynosure and gave the stock a “buy” rating in a report on Wednesday, July 27th. Seven analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $61.40.

In other news, CFO Timothy W. Baker sold 2,041 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 2,041 shares of the company’s stock, valued at $108,560.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian M. Barefoot sold 21,000 shares of the company’s stock in a transaction 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 directly owns 5,000 shares of the company’s stock, valued at approximately $258,300. The disclosure for this sale can be found here. Insiders own 2.90% 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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