Zacks Investment Research Upgrades Syneron Medical Ltd. (ELOS) to “Buy”
Syneron Medical Ltd. (NASDAQ:ELOS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $8.00 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 12.04% from the stock’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 topic of several other research reports. Brean Capital reiterated 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 lowered their target price for the company from $9.40 to $7.80 in a report on Friday, August 5th.
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Syneron Medical (NASDAQ:ELOS) traded down 2.46% during midday trading on Tuesday, hitting $7.14. The company had a trading volume of 37,034 shares. The firm’s 50 day moving average is $6.81 and its 200-day moving average is $7.06. The firm’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 posted 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 positive return on equity of 2.88% and a negative net margin of 1.42%. The business had revenue of $75 million for the quarter, compared to the consensus estimate of $75.72 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. Syneron Medical’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts expect that Syneron Medical will post $0.27 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Syneron Medical by 5.8% in the first quarter. Geode Capital Management LLC now owns 21,010 shares of the company’s stock worth $152,000 after buying an additional 1,159 shares during the last quarter. Lapides Asset Management LLC boosted its position in Syneron Medical by 2.3% in the second quarter. Lapides Asset Management LLC now owns 290,400 shares of the company’s stock valued at $2,233,000 after buying an additional 6,400 shares during the last quarter. California Public Employees Retirement System boosted its position in Syneron Medical by 17.2% in the second quarter. California Public Employees Retirement System now owns 93,825 shares of the company’s stock valued at $722,000 after buying an additional 13,800 shares during the last quarter. 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 during the last quarter. Finally, Royce & Associates LP boosted its position in Syneron Medical by 7.5% in the first quarter. Royce & Associates LP now owns 713,159 shares of the company’s stock valued at $5,213,000 after buying an additional 50,000 shares during the last quarter. 72.44% of the stock is currently owned by institutional investors and hedge funds.
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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