Kennedy Capital Management Inc. bought a new stake in shares of Cutera, Inc. (NASDAQ:CUTR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 363,920 shares of the medical device company’s stock, valued at approximately $9,426,000. Kennedy Capital Management Inc. owned approximately 2.63% of Cutera as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. American International Group Inc. increased its stake in shares of Cutera by 7.0% during the first quarter. American International Group Inc. now owns 7,221 shares of the medical device company’s stock valued at $149,000 after purchasing an additional 475 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in shares of Cutera during the first quarter valued at approximately $202,000. Trexquant Investment LP bought a new stake in shares of Cutera during the first quarter valued at approximately $267,000. Driehaus Capital Management LLC bought a new stake in shares of Cutera during the first quarter valued at approximately $363,000. Finally, Bank of Montreal Can increased its position in shares of Cutera by 49.6% during the second quarter. Bank of Montreal Can now owns 15,957 shares of the medical device company’s stock valued at $413,000 after acquiring an additional 5,289 shares in the last quarter. 89.15% of the stock is owned by institutional investors and hedge funds.
In other news, Director David A. Gollnick sold 10,000 shares of Cutera stock in a transaction on Monday, June 26th. The shares were sold at an average price of $25.08, for a total value of $250,800.00. Following the transaction, the director now directly owns 26,641 shares of the company’s stock, valued at approximately $668,156.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ronald J. Santilli sold 5,775 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $40.43, for a total transaction of $233,483.25. Following the completion of the transaction, the chief financial officer now directly owns 50,012 shares in the company, valued at $2,021,985.16. The disclosure for this sale can be found here. Insiders sold a total of 66,809 shares of company stock worth $2,216,500 over the last ninety days. Corporate insiders own 11.60% of the company’s stock.
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Cutera, Inc. (NASDAQ:CUTR) opened at 38.55 on Friday. Cutera, Inc. has a 52 week low of $11.04 and a 52 week high of $41.15. The stock has a market cap of $539.89 million, a PE ratio of 82.90 and a beta of 0.52. The stock’s 50 day moving average is $34.07 and its 200 day moving average is $25.29.
Cutera (NASDAQ:CUTR) last announced its earnings results on Monday, August 7th. The medical device company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $36.40 million for the quarter, compared to analysts’ expectations of $32.08 million. Cutera had a net margin of 5.07% and a return on equity of 11.64%. The company’s quarterly revenue was up 32.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 EPS. Analysts predict that Cutera, Inc. will post $0.52 EPS for the current year.
Cutera declared that its Board of Directors has initiated a stock repurchase plan on Monday, August 7th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the medical device company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of research firms have commented on CUTR. Roth Capital lifted their target price 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. Maxim Group downgraded shares of Cutera from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub raised shares of Cutera from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. TheStreet upgraded shares of Cutera from a “c” rating to a “b” rating in a research note on Friday, August 18th. Finally, Gabelli reiterated a “buy” rating on shares of Cutera in a research note on Wednesday, August 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $35.25.
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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