Syneron Medical Ltd. (ELOS) Sees Large Volume Increase
Shares of Syneron Medical Ltd. (NASDAQ:ELOS) saw strong trading volume on Wednesday . 129,133 shares traded hands during trading, an increase of 26% from the previous session’s volume of 102,421 shares.The stock last traded at $6.69 and had previously closed at $6.63.
Several analysts have issued reports on the company. Brean Capital reaffirmed a “buy” rating and set a $13.00 target price on shares of Syneron Medical in a research report on Tuesday, May 31st. Zacks Investment Research raised Syneron Medical from a “sell” rating to a “hold” rating in a research report on Friday, July 8th. Finally, Leerink Swann cut Syneron Medical from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $9.40 to $7.80 in a research report on Friday, August 5th.
The firm’s market capitalization is $247.63 million. The company’s 50 day moving average is $6.70 and its 200 day moving average is $7.11.
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Syneron Medical (NASDAQ:ELOS) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.03. The firm had revenue of $75 million for the quarter, compared to analyst estimates of $75.72 million. Syneron Medical had a negative net margin of 1.42% and a positive return on equity of 2.88%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. Equities research analysts expect that Syneron Medical Ltd. will post $0.27 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in ELOS. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Syneron Medical during the second quarter valued at approximately $6,755,000. Menora Mivtachim Holdings LTD. purchased a new stake in shares of Syneron Medical during the second quarter worth about $3,798,000. Brandes Investment Partners LP raised its stake 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 last quarter. Marshall Wace LLP purchased a new stake in shares of Syneron Medical during the second quarter worth about $1,473,000. Finally, Drill Craig A raised its stake 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 last quarter. 72.44% of the stock is currently owned by hedge funds and other institutional investors.
Syneron Medical Company Profile
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.
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