Zacks Investment Research upgraded shares of Cutera (NASDAQ:CUTR) from a sell rating to a hold rating in a report published on Tuesday.
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. “
A number of other analysts also recently commented on the stock. BidaskClub upgraded shares of Cutera from a hold rating to a buy rating in a research report on Tuesday, December 12th. Maxim Group reaffirmed a hold rating on shares of Cutera in a research note on Wednesday, November 8th. Finally, Roth Capital lifted their price objective on shares of Cutera from $41.00 to $47.00 and gave the stock a buy rating in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $37.33.
Cutera (NASDAQ CUTR) traded up $2.95 during mid-day trading on Tuesday, hitting $49.35. 401,800 shares of the company’s stock were exchanged, compared to its average volume of 211,387. Cutera has a one year low of $18.00 and a one year high of $49.45. The company has a market cap of $697.10, a P/E ratio of 65.80, a price-to-earnings-growth ratio of 1.32 and a beta of 0.52.
Cutera (NASDAQ:CUTR) last released its quarterly earnings results on Tuesday, November 7th. The medical device company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.34. Cutera had a net margin of 7.99% and a return on equity of 18.73%. The company had revenue of $38.17 million for the quarter, compared to the consensus estimate of $34.82 million. During the same period in the previous year, the firm earned $0.12 EPS. Cutera’s revenue was up 26.1% on a year-over-year basis. sell-side analysts predict that Cutera will post 0.55 EPS for the current fiscal year.
In other news, Director David B. Apfelberg sold 1,000 shares of Cutera stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $39.90, for a total value of $39,900.00. Following the transaction, the director now directly owns 10,259 shares of the company’s stock, valued at $409,334.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy J. Oshea sold 4,000 shares of Cutera stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $39.21, for a total transaction of $156,840.00. The disclosure for this sale can be found here. Insiders sold a total of 37,968 shares of company stock worth $1,676,086 in the last ninety days. Corporate insiders own 3.30% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC purchased a new position in shares of Cutera in the third quarter worth approximately $117,000. Argent Capital Management LLC purchased a new position in shares of Cutera in the third quarter worth approximately $1,320,000. Cornerstone Capital Management Holdings LLC. increased its position in shares of Cutera by 76.0% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 85,700 shares of the medical device company’s stock worth $3,542,000 after acquiring an additional 37,000 shares in the last quarter. PEAK6 Investments L.P. increased its position in shares of Cutera by 533.0% in the third quarter. PEAK6 Investments L.P. now owns 64,895 shares of the medical device company’s stock worth $2,683,000 after acquiring an additional 54,643 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Cutera in the third quarter worth approximately $277,000. 87.64% of the stock is currently owned by institutional investors and hedge funds.
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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