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Syneron CFO's surprise departure no cause for alarm, analysts say

Fri, 08/24/2012 - 1:14pm
Mass Device

Syneron CFO Asaf Alperovitz announces a sudden departure to "pursue a new career opportunity," but the move isn't a reflection on the company's financial performance, according to Leerink Swann analysts.

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Investors shouldn't distress over the sudden departure of Syneron Medical (NSDQ:ELOS) chief financial officer Asaf Alperovitz, according to analysts.

The resignation of Alperovitz, who left the company "to pursue a new career opportunity," isn't a "major reason for concern" for the Israel-based aesthetic devices maker, Leerink Swann analysts Richard Newitter and Kathleen McGrath wrote in a note to investors.

"The news is likely to come as a surprise to investors – the timing of these types of  announcements almost always does," the analysts wrote. "We do not view the departure as a function of performance, especially given solid 2Q results (reported last week) which highlighted positive directional progress on the profitability improvement front."

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