Nationwide Fund Advisors increased its position in shares of Cynosure Inc. (NASDAQ:CYNO) by 38.5% during the second quarter, Holdings Channel reports. The firm owned 73,389 shares of the company’s stock after buying an additional 20,401 shares during the period. Nationwide Fund Advisors owned approximately 0.31% of Cynosure worth $3,570,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in CYNO. Drill Craig A purchased a new position in Cynosure during the second quarter valued at about $17,721,000. Mesirow Financial Investment Management Equity Management purchased a new position in Cynosure during the second quarter valued at about $17,333,000. Emerald Acquisition Ltd. purchased a new position in Cynosure during the second quarter valued at about $12,241,000. Credit Agricole S A boosted its position in Cynosure by 1,049.3% in the first quarter. Credit Agricole S A now owns 182,200 shares of the company’s stock valued at $8,039,000 after buying an additional 166,347 shares in the last quarter. Finally, Albion Financial Group UT boosted its position in Cynosure by 81.0% in the second quarter. Albion Financial Group UT now owns 197,162 shares of the company’s stock valued at $9,591,000 after buying an additional 88,237 shares in the last quarter. 99.51% of the stock is owned by hedge funds and other institutional investors.
Shares of Cynosure Inc. (NASDAQ:CYNO) traded up 1.23% on Thursday, reaching $52.86. 54,097 shares of the company’s stock traded hands. Cynosure Inc. has a 52 week low of $31.44 and a 52 week high of $55.94. The company has a 50 day moving average price of $51.68 and a 200 day moving average price of $49.35. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 62.41 and a beta of 1.65.
Cynosure (NASDAQ:CYNO) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ 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 period in the previous year, the business posted $0.30 EPS. The company’s quarterly revenue was up 31.8% on a year-over-year basis. On average, equities research analysts predict that Cynosure Inc. will post $1.34 earnings per share for the current fiscal year.
CYNO has been the subject of several analyst reports. Zacks Investment Research cut shares of Cynosure from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Maxim Group increased their price target 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 reissued a “buy” rating and set a $62.00 price target (up from $57.00) on shares of Cynosure in a report on Wednesday, July 27th. Northland Securities set a $60.00 price target on shares of Cynosure and gave the stock a “buy” rating in a report on Wednesday, July 27th. Finally, Brean Capital reissued a “buy” rating and set a $60.00 price target (up from $54.00) on shares of Cynosure in a report on Thursday, July 28th. Seven analysts have rated the stock with a buy rating, Cynosure presently has an average rating of “Buy” and an average price target of $61.40.
In other news, Director Brian M. Barefoot sold 21,000 shares of Cynosure stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $51.66, for a total value of $1,084,860.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $258,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy W. Baker sold 2,041 shares of Cynosure stock in a transaction dated 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 transaction, the chief financial officer now directly owns 2,041 shares of the company’s stock, valued at $108,560.79. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.
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.