Cutera, Inc. (CUTR) Shares Down 6.3% Following Insider Selling

Shares of Cutera, Inc. (NASDAQ:CUTR) traded down 6.3% on Thursday after an insider sold shares in the company. The stock traded as low as $42.40 and last traded at $42.45. 866,497 shares traded hands during mid-day trading, an increase of 516% from the average session volume of 140,573 shares. The stock had previously closed at $45.30.

Specifically, EVP Larry Laber sold 1,250 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $44.30, for a total value of $55,375.00. Following the completion of the sale, the executive vice president now owns 70,463 shares in the company, valued at approximately $3,121,510.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David B. Apfelberg sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $39.90, for a total transaction of $39,900.00. Following the completion of the sale, the director now owns 10,259 shares of the company’s stock, valued at approximately $409,334.10. The disclosure for this sale can be found here. Insiders have sold a total of 27,672 shares of company stock valued at $1,080,901 in the last 90 days. 11.60% of the stock is currently owned by company insiders.

Several analysts have recently issued reports on the stock. Maxim Group reiterated a “hold” rating on shares of Cutera in a research note on Wednesday, November 8th. Zacks Investment Research lowered shares of Cutera from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Roth Capital increased their price target on shares of Cutera from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, September 12th. TheStreet upgraded shares of Cutera from a “c” rating to a “b” rating in a research report on Friday, August 18th. Finally, BidaskClub upgraded shares of Cutera from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $37.33.

The stock has a market cap of $627.63, a PE ratio of 58.08, a price-to-earnings-growth ratio of 1.96 and a beta of 0.49.

Cutera (NASDAQ:CUTR) last released its quarterly earnings data on Tuesday, November 7th. The medical device company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.34. The business had revenue of $38.17 million for the quarter, compared to the consensus estimate of $34.82 million. Cutera had a net margin of 7.99% and a return on equity of 18.73%. The company’s revenue was up 26.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. equities research analysts expect that Cutera, Inc. will post 0.55 EPS for the current year.

Cutera announced that its board has approved a stock buyback plan on Monday, August 7th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the medical device company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CUTR. Kennedy Capital Management Inc. purchased a new stake in Cutera during the second quarter valued at about $9,426,000. Stonepine Capital Management LLC purchased a new stake in shares of Cutera in the second quarter worth about $4,533,000. Ameriprise Financial Inc. purchased a new stake in shares of Cutera in the second quarter worth about $3,175,000. EAM Investors LLC lifted its holdings in shares of Cutera by 148.7% in the second quarter. EAM Investors LLC now owns 197,485 shares of the medical device company’s stock worth $5,115,000 after buying an additional 118,073 shares in the last quarter. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Cutera in the second quarter worth about $2,897,000. 89.72% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This news story was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://stocknewstimes.com/2017/11/17/cutera-inc-cutr-shares-down-6-3-following-insider-selling.html.

About Cutera

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.

Receive News & Ratings for Cutera Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cutera Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply