Maxim Group downgraded shares of Cutera, Inc. (NASDAQ:CUTR) from a buy rating to a hold rating in a report published on Thursday, MarketBeat reports.
A number of other equities analysts have also commented on CUTR. Sidoti restated a buy rating and issued a $30.00 price target (up from $27.00) on shares of Cutera in a research report on Saturday, June 3rd. Zacks Investment Research upgraded shares of Cutera from a sell rating to a buy rating and set a $28.00 price target on the stock in a research report on Tuesday, June 20th. Roth Capital initiated coverage on shares of Cutera in a research note on Monday, June 26th. They issued a buy rating and a $32.00 target price for the company. BidaskClub raised shares of Cutera from a buy rating to a strong-buy rating in a research note on Wednesday, July 12th. Finally, Gabelli reaffirmed a buy rating on shares of Cutera in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $35.25.
Shares of Cutera (NASDAQ CUTR) opened at 38.55 on Thursday. The firm has a 50 day moving average of $34.07 and a 200 day moving average of $25.29. Cutera has a 52 week low of $11.04 and a 52 week high of $41.15. The firm has a market cap of $539.89 million, a price-to-earnings ratio of 82.90 and a beta of 0.52.
Cutera (NASDAQ:CUTR) last released its quarterly earnings results on Monday, August 7th. The medical device company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.10. The firm had revenue of $36.40 million for the quarter, compared to analyst estimates of $32.08 million. Cutera had a net margin of 5.07% and a return on equity of 11.64%. The company’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 earnings per share. Equities analysts predict that Cutera will post $0.52 earnings per share for the current fiscal year.
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Cutera declared that its Board of Directors has authorized a share buyback program on Monday, August 7th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the medical device company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other Cutera news, Director David A. Gollnick sold 10,000 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $25.08, for a total value of $250,800.00. Following the completion of the transaction, the director now directly owns 26,641 shares of the company’s stock, valued at $668,156.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ronald J. Santilli sold 28,519 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $34.01, for a total transaction of $969,931.19. Following the completion of the transaction, the executive vice president now directly owns 75,253 shares of the company’s stock, valued at $2,559,354.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,809 shares of company stock valued at $2,216,500. Insiders own 11.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System raised its stake in shares of Cutera by 1.3% in the second quarter. California State Teachers Retirement System now owns 23,405 shares of the medical device company’s stock worth $606,000 after acquiring an additional 300 shares during the last quarter. American International Group Inc. raised its stake in shares of Cutera by 7.0% in the first quarter. American International Group Inc. now owns 7,221 shares of the medical device company’s stock worth $149,000 after acquiring an additional 475 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Cutera by 0.4% in the first quarter. Bank of America Corp DE now owns 139,087 shares of the medical device company’s stock worth $2,879,000 after acquiring an additional 500 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Cutera by 8.4% in the second quarter. Nationwide Fund Advisors now owns 7,216 shares of the medical device company’s stock worth $187,000 after acquiring an additional 561 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Cutera by 12.0% in the second quarter. The Manufacturers Life Insurance Company now owns 11,479 shares of the medical device company’s stock worth $297,000 after acquiring an additional 1,230 shares during the last quarter. 89.15% of the stock is owned by institutional investors.
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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