TheStreet upgraded shares of Cutera, Inc. (NASDAQ:CUTR) from a c rating to a b rating in a research report report published on Friday.
A number of other research firms have also recently issued reports on CUTR. BidaskClub cut Cutera from a strong-buy rating to a buy rating in a research note on Wednesday, July 19th. Maxim Group reissued a buy rating and issued a $33.00 target price (up from $27.00) on shares of Cutera in a research note on Thursday, July 13th. Zacks Investment Research cut Cutera from a hold rating to a sell rating in a research note on Thursday, May 4th. Sidoti reissued a buy rating and issued a $32.00 target price (up from $30.00) on shares of Cutera in a research note on Friday, July 7th. Finally, Roth Capital began coverage on Cutera in a research note on Monday, June 26th. They issued a buy rating and a $32.00 target price for the company. Six analysts have rated the stock with a buy rating, Cutera currently has a consensus rating of Buy and a consensus price target of $33.25.
Shares of Cutera (CUTR) opened at 33.95 on Friday. The stock has a market capitalization of $475.47 million, a P/E ratio of 73.01 and a beta of 0.60. Cutera has a one year low of $10.54 and a one year high of $34.91. The stock’s 50 day moving average price is $28.55 and its 200 day moving average price is $23.13.
Cutera (NASDAQ:CUTR) last announced its quarterly earnings data on Monday, August 7th. The medical device company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. Cutera had a return on equity of 11.64% and a net margin of 5.07%. The business had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $32.08 million. During the same period in the previous year, the firm earned $0.07 earnings per share. The firm’s quarterly revenue was up 32.4% compared to the same quarter last year. On average, analysts forecast that Cutera will post $0.52 EPS for the current year.
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Cutera announced that its board has initiated a stock repurchase program on Monday, August 7th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the medical device company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
In related news, Director David A. Gollnick sold 39,204 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $22.31, for a total transaction of $874,641.24. Following the sale, the director now owns 34,136 shares in the company, valued at $761,574.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ronald J. Santilli sold 12,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $34.00, for a total value of $408,000.00. Following the sale, the chief financial officer now owns 75,253 shares in the company, valued at approximately $2,558,602. The disclosure for this sale can be found here. Insiders have sold 106,150 shares of company stock worth $2,898,749 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CUTR. California State Teachers Retirement System raised its stake in Cutera by 1.3% in the second quarter. California State Teachers Retirement System now owns 23,405 shares of the medical device company’s stock valued at $606,000 after buying an additional 300 shares during the last quarter. American International Group Inc. raised its stake in Cutera by 7.0% in the first quarter. American International Group Inc. now owns 7,221 shares of the medical device company’s stock valued at $149,000 after buying an additional 475 shares during the last quarter. Bank of America Corp DE raised its stake in Cutera by 0.4% in the first quarter. Bank of America Corp DE now owns 139,087 shares of the medical device company’s stock valued at $2,879,000 after buying an additional 500 shares during the last quarter. Nationwide Fund Advisors raised its stake in Cutera by 8.4% in the second quarter. Nationwide Fund Advisors now owns 7,216 shares of the medical device company’s stock valued at $187,000 after buying an additional 561 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Cutera by 12.0% in the second quarter. The Manufacturers Life Insurance Company now owns 11,479 shares of the medical device company’s stock valued at $297,000 after buying an additional 1,230 shares during the last quarter. Institutional investors and hedge funds own 84.44% of the company’s stock.
Cutera Company Profile
Cutera, Inc is a medical device company. The Company is engaged in the design, development, manufacture, marketing and servicing of laser and other energy-based aesthetics systems for practitioners across the world. The Company offers products based on product platforms, such as enlighten, excel HR, truSculpt, excel V and xeo, each of which enables physicians and other practitioners to perform aesthetic procedures for customers.
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