Cutera, Inc. (CUTR) Upgraded by TheStreet to B

TheStreet upgraded shares of Cutera, Inc. (NASDAQ:CUTR) from a c rating to a b rating in a report released on Friday.

CUTR has been the subject of several other research reports. Gabelli reissued a buy rating on shares of Cutera in a report on Wednesday, August 9th. BidaskClub raised Cutera from a hold rating to a buy rating in a report on Saturday, August 12th. Zacks Investment Research raised Cutera from a sell rating to a buy rating and set a $28.00 price target for the company in a report on Tuesday, June 20th. Roth Capital increased their target price on Cutera from $32.00 to $39.00 and gave the company a buy rating in a report on Tuesday, August 8th. Finally, Sidoti reissued a buy rating and set a $32.00 target price (up previously from $30.00) on shares of Cutera in a report on Friday, July 7th. Six equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and a consensus target price of $33.25.

Shares of Cutera (NASDAQ CUTR) opened at 33.95 on Friday. The company’s 50 day moving average price is $28.55 and its 200 day moving average price is $23.13. Cutera has a 52-week low of $10.54 and a 52-week high of $34.91. The stock has a market capitalization of $475.47 million, a PE ratio of 73.01 and a beta of 0.60.

Cutera (NASDAQ:CUTR) last posted its quarterly earnings results on Monday, August 7th. The medical device company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.10. The business had revenue of $36.40 million for the quarter, compared to the consensus estimate of $32.08 million. Cutera had a return on equity of 11.64% and a net margin of 5.07%. The company’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 EPS. On average, equities research analysts anticipate that Cutera will post $0.52 EPS for the current year.

Cutera announced that its board has initiated a share repurchase plan on Monday, August 7th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the medical device company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In other news, EVP Ronald J. Santilli sold 1,068 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $33.20, for a total value of $35,457.60. Following the completion of the sale, the executive vice president now directly owns 87,253 shares in the company, valued at $2,896,799.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ronald J. Santilli sold 3,857 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $22.95, for a total value of $88,518.15. Following the completion of the sale, the chief financial officer now owns 88,321 shares of the company’s stock, valued at $2,026,966.95. The disclosure for this sale can be found here. Insiders sold 106,150 shares of company stock valued at $2,898,749 over the last 90 days. Company insiders own 3.30% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. 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 worth $187,000 after buying an additional 561 shares during the period. 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 worth $149,000 after buying an additional 475 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Cutera during the second quarter worth about $225,000. PNC Financial Services Group Inc. bought a new stake in Cutera during the second quarter worth about $241,000. Finally, Citadel Advisors LLC bought a new stake in Cutera during the second quarter worth about $245,000. 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.