At Insider Monkey, we pore over the filings of more than 700 top investment firms every quarter, a process we have now completed for the latest reporting period. The data we’ve gathered as a result gives us access to a wealth of collective knowledge based on these firms’ portfolio holdings as of September 30. In this article, we will use that wealth of knowledge to determine whether or not Cynosure, Inc. (NASDAQ:CYNO) makes for a good investment right now.
Cynosure, Inc. shareholders have witnessed an increase in hedge fund sentiment lately. At the end of this article we will also compare CYNO to other stocks including Affymetrix, Inc. (NASDAQ:AFFX), Yadkin Financial Corp (NASDAQ:YDKN), and Supernus Pharmaceuticals Inc (NASDAQ:SUPN) to get a better sense of its popularity.
At the moment there are several metrics stock traders employ to analyze publicly traded companies. A pair of the most under-the-radar metrics is composed of hedge fund and insider trading signals. We have shown that, historically, those who follow the top picks of the elite money managers can trounce the market by a healthy margin (see the details here).
With all of this in mind, let’s take a look at the fresh action regarding Cynosure, Inc. (NASDAQ:CYNO).
Hedge fund activity in Cynosure, Inc. (NASDAQ:CYNO)
At Q3’s end, a total of 18 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 20% from the second quarter. With hedgies’ capital changing hands, there exist a few key hedge fund managers who were increasing their holdings meaningfully (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Broadwood Capital, managed by Neal C. Bradsher, holds the number one position in Cynosure, Inc. (NASDAQ:CYNO). Broadwood Capital has a $26.9 million position in the stock, comprising 5.3% of its 13F portfolio. Sitting at the No. 2 spot is Clifford Fox of Columbus Circle Investors, with a $26.3 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Some other peers that hold long positions consist of Cliff Asness’s AQR Capital Management and Chuck Royce’s Royce & Associates.