Trade Report: The Cynosure Inc. (CYNO) Coverage Initiated at Aegis

The Cynosure Inc. (CYNO) Coverage Initiated at Aegis

Investment analysts at Aegis assumed coverage on shares of Cynosure Inc. (NASDAQ:CYNO) in a research report issued on Wednesday. The brokerage set a “buy” rating and a $60.00 price target on the stock. Aegis’ price objective indicates a potential upside of 32.45% from the stock’s previous close.

A number of other analysts have also weighed in on CYNO. Northland Securities set a $60.00 price objective on Cynosure and gave the company a “buy” rating in a research note on Wednesday, July 27th. Stifel Nicolaus reissued a “buy” rating and set a $62.00 price objective (up previously from $57.00) on shares of Cynosure in a research note on Wednesday, July 27th. Maxim Group increased their price objective on Cynosure from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Brean Capital reissued a “buy” rating and set a $60.00 price objective (up previously from $54.00) on shares of Cynosure in a research note on Thursday, July 28th. Finally, Zacks Investment Research raised Cynosure from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a research note on Wednesday, July 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $60.43.

Cynosure (NASDAQ:CYNO) traded up 0.44% on Wednesday, reaching $45.30. 87,214 shares of the company traded hands. The stock has a 50 day moving average of $45.56 and a 200-day moving average of $49.41. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 51.19 and a beta of 1.71. Cynosure has a 1-year low of $32.90 and a 1-year high of $55.94.

Cynosure (NASDAQ:CYNO) last issued its earnings results on Tuesday, October 25th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The business earned $106.40 million during the quarter, compared to analyst estimates of $101.11 million. Cynosure had a return on equity of 6.82% and a net margin of 4.97%. Cynosure’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 earnings per share. On average, equities analysts anticipate that Cynosure will post $1.28 EPS for the current year.

In other Cynosure news, Director Brian M. Barefoot sold 21,000 shares of the stock in a transaction on 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 completion of the transaction, the director now owns 5,000 shares in the company, valued at $258,300. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Douglas J. Delaney sold 7,875 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $45.00, for a total value of $354,375.00. Following the completion of the transaction, the vice president now owns 5,833 shares of the company’s stock, valued at approximately $262,485. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the company. Fortaleza Asset Management Inc. purchased a new position in Cynosure during the second quarter worth about $117,000. Acrospire Investment Management LLC increased its position in Cynosure by 57.4% in the second quarter. Acrospire Investment Management LLC now owns 2,739 shares of the company’s stock worth $133,000 after buying an additional 999 shares during the period. Thompson Davis & CO. Inc. purchased a new position in Cynosure during the second quarter worth about $137,000. Cubist Systematic Strategies LLC purchased a new position in Cynosure during the second quarter worth about $141,000. Finally, PineBridge Investments L.P. increased its position in Cynosure by 6.2% in the second quarter. PineBridge Investments L.P. now owns 2,983 shares of the company’s stock worth $145,000 after buying an additional 174 shares during the period. Institutional investors and hedge funds own 98.49% of the company’s stock.

Cynosure Company Profile

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