Steven Cohen (Trades, Portfolio) of Point72 Asset Management invested in a 731,500-share stake in Cynosure Inc. (CYNO, Financial), a Westford, Massachusetts-based company that manufactures aesthetic medical devices, for a price of $46.27 per share on April 25.
The acquisition had a 0.28% impact on Cohen’s portfolio.
According to the company’s website, Cynosure’s products “are used to provide a diverse range of treatment applications such as hair removal, skin revitalization and scar reduction, as well as the treatment of vascular lesions.”
With the purchase, Cohen, who reported a 5.2% passive stake in the company, became Cynosure’s leading shareholder among the gurus. His stake is 3.18% of Cynosure’s outstanding shares and 0.28% of Cohen’s total assets. Ken Fisher (Trades, Portfolio) is the company’s second-leading shareholder among the gurus with a stake of 114,213 shares. The stake is 0.5% of Cynosure’s outstanding shares and 0.01% of Fisher’s total assets.
Cynosure has a P/E of 71.9, a forward P/E of 25.5, a P/B of 2.8 and a P/S of 3.3. GuruFocus gives Cynosure a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.
Cynosure sold for $49.6 per share Tuesday.
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