BNP Paribas Arbitrage SA Purchases 4,028 Shares of Cynosure Inc. (CYNO)
BNP Paribas Arbitrage SA boosted its position in shares of Cynosure Inc. (NASDAQ:CYNO) by 120.7% during the second quarter, Holdings Channel reports. The fund owned 7,366 shares of the company’s stock after buying an additional 4,028 shares during the period. BNP Paribas Arbitrage SA’s holdings in Cynosure were worth $358,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the stock. Investment Centers of America Inc. raised its stake in shares of Cynosure by 7.2% in the first quarter. Investment Centers of America Inc. now owns 5,980 shares of the company’s stock worth $265,000 after buying an additional 400 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Cynosure by 4.5% in the first quarter. Arizona State Retirement System now owns 11,725 shares of the company’s stock worth $517,000 after buying an additional 500 shares during the last quarter. BlackRock Group LTD raised its stake in shares of Cynosure by 8.6% in the first quarter. BlackRock Group LTD now owns 23,874 shares of the company’s stock worth $1,053,000 after buying an additional 1,897 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Cynosure by 4.7% in the first quarter. Prudential Financial Inc. now owns 55,278 shares of the company’s stock worth $2,439,000 after buying an additional 2,500 shares during the last quarter. Finally, Aristotle Capital Boston LLC raised its stake in shares of Cynosure by 9.1% in the first quarter. Aristotle Capital Boston LLC now owns 73,789 shares of the company’s stock worth $3,256,000 after buying an additional 6,175 shares during the last quarter. 99.51% of the stock is currently owned by hedge funds and other institutional investors.
Cynosure Inc. (NASDAQ:CYNO) traded up 0.39% during trading on Friday, hitting $50.97. The company had a trading volume of 265,222 shares. The company’s 50 day moving average price is $52.26 and its 200-day moving average price is $48.15. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 60.18 and a beta of 1.54. Cynosure Inc. has a 1-year low of $29.60 and a 1-year high of $55.94.
Cynosure (NASDAQ:CYNO) last announced its earnings results on Tuesday, July 26th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $110.30 million for the quarter, compared to analyst estimates of $101.31 million. Cynosure had a return on equity of 6.57% and a net margin of 5.09%. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. On average, analysts expect that Cynosure Inc. will post $1.34 EPS for the current year.
A number of analysts have recently commented on the company. Northland Securities set a $60.00 price target 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 target (up from $57.00) on shares of Cynosure in a research note on Wednesday, July 27th. Maxim Group lifted their price target on Cynosure from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Zacks Investment Research raised Cynosure from a “hold” rating to a “strong-buy” rating and set a $62.00 price target on the stock in a research note on Wednesday, July 27th. Finally, Brean Capital set a $60.00 price target on Cynosure and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $62.00.
In other news, Chairman Michael R. Davin sold 4,222 shares of the stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $53.18, for a total transaction of $224,525.96. Following the transaction, the chairman now directly owns 4,222 shares in the company, valued at approximately $224,525.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian M. Barefoot sold 21,000 shares of the 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 transaction, the director now owns 5,000 shares in the company, valued at $258,300. The disclosure for this sale can be found here. 2.90% of the stock is owned by company insiders.
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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