In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Syneron Medical Ltd. (NASDAQ:ELOS) reported that Sand Grove Capital Partners has picked up 1,501,205 of common stock as of 2017-05-11.
The acquisition brings the aggregate amount owned by Sand Grove Capital Partners to a total of 1,501,205 representing less than 4.3% stake in the company.
For those not familiar with the company, 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. The Company’s products target a range of non-invasive aesthetic medical procedures, including hair removal, wrinkle reduction, tattoo removal, rejuvenation of the skin’s appearance through the treatment of superficial benign vascular and pigmented lesions, acne treatment, treatment of leg veins, treatment for the temporary reduction in the appearance of cellulite and thigh circumference, ablation and resurfacing of the skin, and laser-assisted lipolysis.
A glance at Syneron Medical Ltd. (NASDAQ:ELOS)’s key stats reveals a current market capitalization of 376.66 Million based on 35.03 Million shares outstanding and a price at last close of $10.85 per share.
Looking at insider activity, there are a few transactions worth noting.
On the sell side, the most recent transaction saw North unload 34,000 shares at a sale price of $10.30. This brings their total holding to 3,384,500.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Syneron Medical Ltd. (NASDAQ:ELOS) as things move forward to see if its progress aligns with these transactions.
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