Zacks Investment Research upgraded shares of Syneron Medical Ltd. (NASDAQ:ELOS) from a hold rating to a buy rating in a report published on Tuesday. They currently have $8.00 price objective on the stock.
According to Zacks, “Syneron Medical Ltd. manufactures and distributes medical aesthetic devices that are powered by the proprietary, patented ELOS combined-energy technology of Bi-Polar Radio Frequency and Light. The Company’s innovative ELOS technology provides the foundation for highly effective, safe and cost-effective systems that enable physicians to provide advanced solutions for a broad range of medical-aesthetic applications. “
Several other analysts have also commented on the company. Leerink Swann lowered Syneron Medical from an outperform rating to a market perform rating and decreased their price objective for the company from $9.40 to $7.80 in a report on Friday, August 5th. Brean Capital reiterated a buy rating on shares of Syneron Medical in a report on Thursday, June 16th.
Shares of Syneron Medical (NASDAQ:ELOS) opened at 7.38 on Tuesday. The firm’s 50-day moving average price is $6.86 and its 200 day moving average price is $7.06. Syneron Medical has a 12-month low of $6.10 and a 12-month high of $8.47. The company’s market cap is $260.33 million.
Syneron Medical (NASDAQ:ELOS) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. Syneron Medical had a positive return on equity of 2.88% and a negative net margin of 1.42%. The firm earned $75 million during the quarter, compared to analyst estimates of $75.72 million. During the same quarter in the prior year, the business posted $0.07 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts predict that Syneron Medical will post $0.27 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of ELOS. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Syneron Medical during the second quarter worth about $6,755,000. Menora Mivtachim Holdings LTD. purchased a new position in shares of Syneron Medical during the second quarter worth about $3,798,000. Brandes Investment Partners LP raised its position in shares of Syneron Medical by 8.5% in the second quarter. Brandes Investment Partners LP now owns 2,723,535 shares of the company’s stock worth $20,944,000 after buying an additional 214,089 shares during the period. Marshall Wace LLP purchased a new position in shares of Syneron Medical during the second quarter worth about $1,473,000. Finally, Drill Craig A raised its position in shares of Syneron Medical by 272.1% in the second quarter. Drill Craig A now owns 160,000 shares of the company’s stock worth $1,230,000 after buying an additional 117,000 shares during the period. Institutional investors own 72.44% of the company’s stock.
About Syneron Medical
Syneron Medical Ltd. is engaged in the manufacture, research, development, marketing and sale of equipment for the aesthetic medical industry and systems for dermatologists, plastic surgeons and other qualified practitioners. The Company designs, develops and markets aesthetic medical products based on its various technologies, including Electro-Optical Synergy (ELOS) technology, which uses the synergy between electrical energy, including radiofrequency (RF) energy, and optical energy to provide aesthetic medical treatments.