Cubist Systematic Strategies LLC decreased its position in Cutera, Inc. (NASDAQ:CUTR) by 59.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,730 shares of the medical device company’s stock after selling 3,949 shares during the period. Cubist Systematic Strategies LLC’s holdings in Cutera were worth $110,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CUTR. Piedmont Investment Advisors LLC acquired a new position in Cutera in the second quarter valued at $128,000. SG Americas Securities LLC acquired a new position in Cutera in the second quarter valued at $154,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Cutera by 51.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,300 shares of the medical device company’s stock valued at $266,000 after buying an additional 1,800 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Cutera in the first quarter valued at $296,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in Cutera in the second quarter valued at $347,000. Institutional investors and hedge funds own 93.36% of the company’s stock.
In related news, insider James A. Reinstein purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was purchased at an average cost of $32.02 per share, with a total value of $32,020.00. Following the completion of the purchase, the insider now owns 139,907 shares in the company, valued at approximately $4,479,822.14. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.
CUTR opened at $21.65 on Friday. Cutera, Inc. has a 1-year low of $20.75 and a 1-year high of $56.05. The firm has a market capitalization of $450.39 million, a price-to-earnings ratio of 29.04 and a beta of 0.31.
Cutera (NASDAQ:CUTR) last posted its quarterly earnings results on Tuesday, August 7th. The medical device company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.06). Cutera had a net margin of 15.67% and a return on equity of 10.21%. The company had revenue of $42.55 million during the quarter, compared to the consensus estimate of $41.50 million. On average, equities research analysts predict that Cutera, Inc. will post -0.16 EPS for the current year.
Several equities analysts recently issued reports on CUTR shares. Sidoti set a $50.00 target price on shares of Cutera and gave the company a “buy” rating in a report on Friday, October 5th. ValuEngine lowered shares of Cutera from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. BidaskClub lowered shares of Cutera from a “strong-buy” rating to a “buy” rating in a report on Friday, July 27th. Zacks Investment Research upgraded shares of Cutera from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, Stifel Nicolaus decreased their price target on shares of Cutera from $45.00 to $29.00 and set a “hold” rating for the company in a research note on Friday, October 5th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $39.24.
Cutera, Inc, a medical device company, designs, develops, manufactures, markets, and services laser and other energy based aesthetics systems worldwide. The company offers enlighten platform, a laser system that is used for tattoo removal, as well as for the treatment of benign pigmented lesions; excel HR platform, a hair removal solution for various skin types; and truSculpt, a high-powered radio frequency platform designed for deep tissue heating.
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