Zacks Investment Research upgraded shares of Cutera (NASDAQ:CUTR) from a sell rating to a hold rating in a research note released on Tuesday morning.
According to Zacks, “Cutera Inc designs, develops, manufactures and markets the CoolGlide family of products for use in laser and other light-based aesthetic applications. The original CoolGlide CV provides permanent hair reduction on all skin types. The second generation CoolGlide Excel incorporated features that added the capability to treat a variety of vascular lesions, which include facial telangiectasia, spider and reticular leg veins. The CoolGlide Vantage added non-ablative skin therapy to the range of applications offered by the system. “
Several other research analysts have also issued reports on the stock. BidaskClub raised shares of Cutera from a hold rating to a buy rating in a research report on Tuesday, December 12th. Roth Capital increased their price target on shares of Cutera from $41.00 to $47.00 and gave the stock a buy rating in a research report on Tuesday, September 12th. Finally, Maxim Group reaffirmed a hold rating on shares of Cutera in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Cutera currently has a consensus rating of Buy and an average price target of $37.33.
Cutera (NASDAQ:CUTR) traded up $1.00 during trading hours on Tuesday, reaching $50.35. 273,894 shares of the company traded hands, compared to its average volume of 212,501. Cutera has a 52-week low of $18.00 and a 52-week high of $50.50. The firm has a market capitalization of $683.74, a price-to-earnings ratio of 64.55, a PEG ratio of 1.47 and a beta of 0.52.
Cutera (NASDAQ:CUTR) last posted its quarterly earnings results on Tuesday, November 7th. The medical device company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.34. Cutera had a net margin of 7.99% and a return on equity of 18.73%. The firm had revenue of $38.17 million during the quarter, compared to analyst estimates of $34.82 million. During the same quarter in the prior year, the business posted $0.12 earnings per share. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. research analysts forecast that Cutera will post 0.55 earnings per share for the current year.
In other Cutera news, Director David B. Apfelberg sold 1,000 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $39.90, for a total transaction of $39,900.00. Following the sale, the director now directly owns 10,259 shares of the company’s stock, valued at $409,334.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy J. Oshea sold 4,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $41.00, for a total transaction of $164,000.00. Following the sale, the director now directly owns 36,467 shares in the company, valued at $1,495,147. The disclosure for this sale can be found here. Insiders have sold 37,968 shares of company stock worth $1,676,086 over the last ninety days. Insiders own 11.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its stake in Cutera by 0.8% during the second quarter. Renaissance Technologies LLC now owns 1,214,500 shares of the medical device company’s stock worth $31,456,000 after buying an additional 9,100 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Cutera by 3.4% during the second quarter. Vanguard Group Inc. now owns 570,948 shares of the medical device company’s stock valued at $14,788,000 after purchasing an additional 18,549 shares during the last quarter. Northern Trust Corp grew its stake in shares of Cutera by 20.0% during the second quarter. Northern Trust Corp now owns 208,940 shares of the medical device company’s stock valued at $5,411,000 after purchasing an additional 34,854 shares during the last quarter. State Street Corp grew its stake in shares of Cutera by 12.6% during the second quarter. State Street Corp now owns 203,059 shares of the medical device company’s stock valued at $5,258,000 after purchasing an additional 22,700 shares during the last quarter. Finally, EAM Investors LLC grew its stake in shares of Cutera by 148.7% during the second quarter. EAM Investors LLC now owns 197,485 shares of the medical device company’s stock valued at $5,115,000 after purchasing an additional 118,073 shares during the last quarter. 87.64% of the stock is currently owned by hedge funds and other institutional investors.
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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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