The deal comes a day after botox maker Allergan Plc said it would buy Cynosure's rival Zeltiq Aesthetics Inc for about $2.48 billion. (NASDAQ:CYNO) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, The Fly reports.
CYNO has been the subject of several research reports. These analysts have also projected a Low Estimate of $0.21/share and a High Estimate of $0.32/share. Brean Capital restated a "buy" rating on shares of Cynosure in a research report on Monday, October 24th. (HOLX) for $66.00 per share in cash, or approximately $1.65 billion. Two investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the company.
1 analysts rated the stock of Noble Corporation plc (NYSE:NE) as "STRONG BUY", 6 rated as "BUY" and 18 issued a "HOLD" rating. (NASDAQ:CYNO) might hit $59.13, however, the High Price Target and Low price Target are $66 and $40, respectively.
Cynosure, Inc. (NASDAQ:CYNO): On Friday heightened volatility was witnessed in Cynosure, Inc. The current share price indicate that stock is 17.85% away from its one year high and is moving 91.25% ahead of its 52-week low. The company's 50 day moving average is $47.75 and its 200 day moving average is $48.34. The firm has a market capitalization of $1.56 billion, a P/E ratio of 101.423 and a beta of 1.65.
Cynosure (NASDAQ:CYNO) last released its quarterly earnings data on Tuesday, February 7th. (NYSE:CF) reported that its Board of Directors has declared a $0.30 per share dividend on its common stock. Cynosure had a return on equity of 6.86% and a net margin of 3.56%.
Average Revenue Estimate for the current quarter is $105.29 Million, according to consensus forecast of 8 analysts. During the same quarter previous year, the business earned $0.42 earnings per share. The firm's revenue was up 19.2% compared to the same quarter past year.
It gives Hologic a strong position in the fast-growing medical aesthetics market, which now exceeds $2 billion in global sales and is growing at a low-double-digit rate.
This report was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another site, it was illegally stolen and republished in violation of United States & worldwide trademark and copyright legislation. The original version of this report can be read at https://www.thecerbatgem.com/2017/02/14/cynosure-inc-cyno-lowered-to-hold-at-aegis.html. Looking at the past 52 week period, the stock price is up at 56.66%. The stock was sold at an average price of $45.00, for a total value of $732,780.00. The third largest holder is Dimensional Fund Advisors Lp, which now holds $62.63 million worth of this stock and that ownership represents almost 4.04% of its market capitalization. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
In other Cynosure news, Chairman Michael R. Davin sold 16,284 shares of Cynosure stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $45.00, for a total transaction of $354,375.00. The Chairman, President and CEO disposed these shares by way of transaction on November 22, 2016. Quantbot Technologies LP increased its position in shares of Cynosure by 223.1% in the third quarter.
Shares of Denbury Resources Inc. Teacher Retirement System of Texas increased its position in Cynosure by 27.8% in the second quarter. Hologic shares were down 3.5 percent, to $38.64. The disclosure for this sale can be found here.
Cynosure develops and manufactures products that enable plastic surgeons, dermatologists, and other medical professionals to remove hair and tattoos, reduce cellulite, reduce fat through laser lipolysis, treat vascular and pigmented lesions, revitalize the skin, clear nails infected by toe fungus, ablate sweat glands and improve women's health.