Cutera, Inc. (NASDAQ:CUTR) – Stock analysts at Gabelli dropped their FY2018 earnings estimates for shares of Cutera in a research note issued on Thursday. Gabelli analyst J. Tsai now expects that the medical device company will post earnings of $0.80 per share for the year, down from their prior forecast of $0.85. Gabelli has a “Buy” rating on the stock. Gabelli also issued estimates for Cutera’s FY2019 earnings at $1.15 EPS, FY2020 earnings at $1.20 EPS and FY2021 earnings at $1.60 EPS.
Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of Cutera from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Maxim Group reaffirmed a “hold” rating on shares of Cutera in a research note on Wednesday, November 8th. Roth Capital lifted their price target on shares of Cutera from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. TheStreet raised shares of Cutera from a “c” rating to a “b” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research cut shares of Cutera from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. 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 target price of $37.33.
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Shares of Cutera (CUTR) opened at $42.45 on Monday. The stock has a market cap of $588.14, a price-to-earnings ratio of 54.42, a price-to-earnings-growth ratio of 1.84 and a beta of 0.49. Cutera has a fifty-two week low of $13.70 and a fifty-two week high of $44.40.
Cutera (NASDAQ:CUTR) last announced its quarterly earnings results on Tuesday, November 7th. The medical device company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.34. The company 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%. Cutera’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 EPS.
Cutera declared that its board has approved a stock repurchase program on Monday, August 7th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the medical device company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, EVP Ronald J. Santilli sold 1,068 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $33.20, for a total value of $35,457.60. Following the completion of the sale, the executive vice president now owns 87,253 shares of the company’s stock, valued at approximately $2,896,799.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald J. Santilli sold 28,519 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 75,253 shares of the company’s stock, valued at approximately $2,559,354.53. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,009 shares of company stock valued at $2,438,915. 3.30% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in shares of Cutera by 0.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,214,500 shares of the medical device company’s stock worth $31,456,000 after purchasing an additional 9,100 shares during the period. Gamco Investors INC. ET AL lifted its position in shares of Cutera by 3.7% in the 2nd quarter. Gamco Investors INC. ET AL now owns 576,363 shares of the medical device company’s stock worth $14,928,000 after purchasing an additional 20,363 shares during the period. Vanguard Group Inc. lifted its position in shares of Cutera by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 570,948 shares of the medical device company’s stock worth $14,788,000 after purchasing an additional 18,549 shares during the period. Kennedy Capital Management Inc. bought a new position in shares of Cutera during the 2nd quarter worth approximately $9,426,000. Finally, Teton Advisors Inc. raised its stake in shares of Cutera by 6.7% during the 2nd quarter. Teton Advisors Inc. now owns 319,000 shares of the medical device company’s stock worth $8,262,000 after acquiring an additional 20,000 shares in the last quarter. 89.72% of the stock is owned by hedge funds and other institutional investors.
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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