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.
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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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