Syneron Medical Ltd. (ELOS) Upgraded by Zacks Investment Research to “Buy”
Syneron Medical Ltd. (NASDAQ:ELOS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $8.00 price target on the stock. Zacks Investment Research’s price target would indicate a potential upside of 12.04% from the company’s current price.
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. “
ELOS has been the subject of several other reports. Brean Capital restated a “buy” rating on shares of Syneron Medical in a research note on Thursday, June 16th. Leerink Swann cut shares of 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 research note on Friday, August 5th.
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Syneron Medical (NASDAQ:ELOS) traded down 2.46% during trading on Tuesday, reaching $7.14. 37,034 shares of the company traded hands. The firm has a 50-day moving average price of $6.81 and a 200-day moving average price of $7.06. The company’s market capitalization is $251.86 million. Syneron Medical has a 52 week low of $6.10 and a 52 week high of $8.47.
Syneron Medical (NASDAQ:ELOS) last announced 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 negative net margin of 1.42% and a positive return on equity of 2.88%. The business earned $75 million during the quarter, compared to analysts’ expectations of $75.72 million. During the same period in the previous year, the business posted $0.07 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts forecast that Syneron Medical will post $0.27 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new position in Syneron Medical during the second quarter valued at about $1,473,000. State Street Corp boosted its position in Syneron Medical by 112.1% in the second quarter. State Street Corp now owns 46,038 shares of the company’s stock valued at $354,000 after buying an additional 24,337 shares in the last quarter. Menora Mivtachim Holdings LTD. purchased a new position in Syneron Medical during the second quarter valued at about $3,798,000. Brandes Investment Partners LP boosted its position in Syneron Medical by 8.5% in the second quarter. Brandes Investment Partners LP now owns 2,723,535 shares of the company’s stock valued at $20,944,000 after buying an additional 214,089 shares in the last quarter. Finally, Royce & Associates LP boosted its position in Syneron Medical by 10.5% in the second quarter. Royce & Associates LP now owns 788,159 shares of the company’s stock valued at $6,061,000 after buying an additional 75,000 shares in the last quarter. Hedge funds and other institutional investors own 72.44% of the company’s stock.
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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