Cynosure Announces Record Third-Quarter Revenues; Revenues Increase 36 Percent from Prior Year to $106.4 Million
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Go back to Cynosure Announces Record Third-Quarter Revenues; Revenues Increase 36 Percent from Prior Year to $106.4 Million
October 26, 2016 8:16 AM EDT
Leerink 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
October 25, 2016 1:08 PM EDT
Stifel 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
October 25, 2016 8:04 AM EDT
Cynosure (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
