Cynosure Announces Record Third-Quarter Revenues; Revenues Increase 36 Percent from Prior Year to $106.4 Million
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Leerink Partners Cuts Price Target on Cynosure (CYNO) Following Solid 3Q
October 26, 2016 8:16 AM EDTLeerink Partners maintained an Outperform rating on Cynosure (NASDAQ: CYNO), and cut the price target to $60.00 (from $63.00), following the company's 3Q earnings report. 3Q Was Highlighted by Solid revenue outperformance and a Modest EPS Beat. Sales of $106.4M beat consensus' $101.9M mostly driven by upside from the OUS division. The sales upside drove a $0.01 EPS beat... More
Cynosure (CYNO) PT, Estimates Trimmed at Stifel Despite Solid Results
October 25, 2016 1:08 PM EDTStifel analyst Jonathan Block trimmed estimates and his price target on Cynosure (NASDAQ: CYNO) to $58.00 (from $62.00) but maintained a Buy rating following solid results.
Block commented, "Cynosure delivered another solid quarter with revenue and EPS ahead of our estimates. Product revenue upside... More
Cynosure (CYNO) Tops Q3 EPS by 3c
October 25, 2016 8:04 AM EDTCynosure (NASDAQ: CYNO) reported Q3 EPS of $0.29, $0.03 better than the analyst estimate of $0.26. Revenue for the quarter came in at $106.4 million versus the consensus estimate of $101.77 million.
Michael Davin, Cynosure President and CEO, said, "We delivered a solid operating and financial performance, generating record third-quarter revenue, profitable sales growth, expanded margins and positive operating cash flow. Product revenue in our North American and international sales channels saw double-digit percentage gains in the third quarter, which marked our 27th consecutive quarter of year-over-year top-line growth.
"SculpSure® has continued to... More
