Today: Cynosure Inc. (CYNO) Stake Held by Strs Ohio

Today: Cynosure Inc. (CYNO) Stake Held by Strs Ohio

Strs Ohio held its stake in Cynosure Inc. (NASDAQ:CYNO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,400 shares of the company’s stock at the end of the second quarter. Strs Ohio’s holdings in Cynosure were worth $943,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new position in shares of Cynosure during the second quarter valued at approximately $170,000. BNP Paribas Arbitrage SA raised its position in shares of Cynosure by 120.7% in the second quarter. BNP Paribas Arbitrage SA now owns 7,366 shares of the company’s stock valued at $358,000 after buying an additional 4,028 shares during the period. Menta Capital LLC purchased a new position in shares of Cynosure during the first quarter valued at approximately $481,000. Louisiana State Employees Retirement System raised its position in shares of 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 during the period. Finally, Bank of Montreal Can purchased a new position in shares of Cynosure during the second quarter valued at approximately $530,000. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cynosure Inc. (NASDAQ:CYNO) traded down 0.08% during midday trading on Friday, hitting $51.70. The stock had a trading volume of 198,127 shares. The company’s 50 day moving average is $51.51 and its 200 day moving average is $49.73. The company has a market cap of $1.23 billion, a PE ratio of 61.04 and a beta of 1.65. Cynosure Inc. has a 52-week low of $31.81 and a 52-week high of $55.94.

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

Several research firms recently issued reports on CYNO. Zacks Investment Research lowered Cynosure from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th. Brean Capital set a $60.00 price target on Cynosure and gave the stock a “buy” rating in a research report on Wednesday, September 14th. Maxim Group raised their price target on Cynosure from $60.00 to $66.00 and gave the stock 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. Finally, Northland Securities set a $60.00 price target on Cynosure and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Seven analysts have rated the stock with a buy rating, Cynosure currently has an average rating of “Buy” and an average price target of $61.40.

In related news, Director Brian M. Barefoot sold 21,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 5,000 shares in the company, valued at $258,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Michael R. Davin sold 12,062 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $53.35, for a total value of $643,507.70. Following the completion of the sale, the chairman now owns 12,062 shares in the company, valued at $643,507.70. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

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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