Cynosure Inc. (NASDAQ:CYNO) gapped up before the market opened on Tuesday . The stock had previously closed at $51.86, but opened at $51.92. Cynosure shares last traded at $52.37, with a volume of 104,960 shares.

CYNO has been the topic of a number of recent research reports. Zacks Investment Research raised Cynosure from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Brean Capital set a $60.00 target price on Cynosure and gave the stock a “buy” rating in a research report on Wednesday, September 14th. Maxim Group lifted their target price 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 reissued a “buy” rating and set a $62.00 target price (up from $57.00) on shares of Cynosure in a research report on Wednesday, July 27th. Finally, Northland Securities set a $60.00 target price on Cynosure and gave the stock a “buy” rating in a research report on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Cynosure has an average rating of “Buy” and a consensus price target of $62.00.

The firm’s 50 day moving average price is $51.87 and its 200-day moving average price is $48.51. The company has a market cap of $1.24 billion, a P/E ratio of 61.78 and a beta of 1.54.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/cynosure-inc-cyno-shares-gap-up-to-51-92.html

Cynosure (NASDAQ:CYNO) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.36 earnings per share for the quarter, topping the 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 had revenue of $110.30 million for the quarter, compared to analysts’ expectations of $101.31 million. During the same period in the previous year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, analysts predict that Cynosure Inc. will post $1.34 EPS for the current fiscal year.

In related news, Director Brian M. Barefoot sold 21,000 shares of the business’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $51.66, for a total transaction of $1,084,860.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $258,300. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Timothy W. Baker sold 2,041 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $53.19, for a total transaction of $108,560.79. Following the transaction, the chief financial officer now owns 2,041 shares in the company, valued at $108,560.79. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CYNO. BlackRock Fund Advisors boosted its position in Cynosure by 5.9% in the second quarter. BlackRock Fund Advisors now owns 1,607,999 shares of the company’s stock worth $78,221,000 after buying an additional 89,178 shares during the last quarter. Vanguard Group Inc. boosted its position in Cynosure by 22.2% in the second quarter. Vanguard Group Inc. now owns 1,244,754 shares of the company’s stock worth $60,551,000 after buying an additional 225,978 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Cynosure by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,154,523 shares of the company’s stock worth $56,161,000 after buying an additional 22,073 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Cynosure by 9.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 628,008 shares of the company’s stock worth $30,549,000 after buying an additional 52,008 shares during the last quarter. Finally, State Street Corp boosted its position in Cynosure by 13.5% in the second quarter. State Street Corp now owns 523,457 shares of the company’s stock worth $25,464,000 after buying an additional 62,280 shares during the last quarter. Institutional investors and hedge funds own 99.51% of the company’s stock.

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.

5 Day Chart for NASDAQ:CYNO

Receive News & Ratings for Cynosure Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cynosure Inc. and related companies with MarketBeat.com's FREE daily email newsletter.