BidaskClub Downgrades Syneron Medical Ltd. (ELOS) to Sell

Syneron Medical Ltd. (NASDAQ:ELOS) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.

Separately, Maxim Group cut shares of Syneron Medical from a “buy” rating to a “hold” rating and lowered their price target for the stock from $12.00 to $11.00 in a research report on Friday, May 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Syneron Medical currently has an average rating of “Hold” and a consensus target price of $9.95.

Shares of Syneron Medical (NASDAQ ELOS) remained flat at $10.95 during mid-day trading on Thursday. The stock had a trading volume of 144,434 shares. The firm’s market cap is $382.13 million. Syneron Medical has a 52 week low of $6.18 and a 52 week high of $11.43. The firm has a 50-day moving average price of $10.90 and a 200-day moving average price of $10.14.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC raised its position in shares of Syneron Medical by 117.9% in the first quarter. Jane Street Group LLC now owns 10,373 shares of the medical equipment provider’s stock worth $109,000 after buying an additional 68,405 shares during the last quarter. PEAK6 Investments L.P. bought a new position in shares of Syneron Medical during the first quarter worth about $111,000. Citadel Advisors LLC raised its position in shares of Syneron Medical by 2.1% in the first quarter. Citadel Advisors LLC now owns 11,835 shares of the medical equipment provider’s stock worth $125,000 after buying an additional 243 shares during the last quarter. Two Sigma Securities LLC bought a new position in shares of Syneron Medical during the first quarter worth about $164,000. Finally, GSA Capital Partners LLP raised its position in shares of Syneron Medical by 7.9% in the fourth quarter. GSA Capital Partners LLP now owns 22,552 shares of the medical equipment provider’s stock worth $189,000 after buying an additional 1,654 shares during the last quarter. Institutional investors and hedge funds own 69.17% 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’s aesthetic medical products are 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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