Market Talk with Piranha is currently moving to its new home at chrisperruna.com. The new site is up and running but many of the posts need editing as the images and stock charts did not transfer successfully (thanks blogger). I will post all new entries to both blogs – Thank you for your patience while I make this change!

Friday, November 05, 2004

ELOS - Syneron Medical Ltd.

…I first listed the stock on October 2, 2004 at $17.76. The following week, ELOS was listed on my weekly screens at $17.00. ELOS closed today at $23.94, a 40% rise since October 10, 2004. Less than 1 month!

I bought the stock because of the IPO status, the 539% 3-year earnings rate and the 351% rise in sales figures for past 3 years. Return on equity is above 28% and the float is only 25% of the outstanding shares.

Today’s gain of 18.05% on the largest volume since the opening day of the IPO is very positive. The weekly volume is the largest ever! Results came out yesterday with a third quarter revenues increase of 80% to $15.1 million over Q3, 2003 while net income increases 217% to $7.3 million.

Syneron is an innovator in the development, marketing and sales of combined-energy medical aesthetic devices.

Background from Yahoo Finance:
Syneron Medical Ltd. designs, develops and markets aesthetic medical products based on electro-optical synergy (ELOS) technology that uses the synergy between electrical energy and optical energy to provide effective, safe and affordable aesthetic medical treatments. The ELOS technology combines optical energy, which is derived from light waves, with electrical energy, in particular radio frequency energy that results from the flow of electric charge through a conductor. This enhances the user's ability to target accurately the tissue to be treated and enables real-time measurement of skin temperature, resulting in increased patient safety and comfort and improved treatment results. The Company's products are sold primarily to physicians and other practitioners, target a wide array of non-invasive aesthetic medical procedures, including hair removal, wrinkle reduction and rejuvenating the skin's appearance through the treatment of superficial benign vascular and pigmented lesions.

Keep this stock on your watch list. Take a look at the weekly ELAB charts from it’s early days for a similar start to an IPO in the same sector.

Enjoy the weekend,
Piranha

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