California Public Employees Retirement System boosted its stake in shares of Cutera, Inc. (NASDAQ:CUTR) by 36.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,939 shares of the medical device company’s stock after acquiring an additional 17,806 shares during the quarter. California Public Employees Retirement System owned about 0.48% of Cutera worth $3,036,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Teacher Retirement System of Texas bought a new stake in Cutera during the fourth quarter worth approximately $206,000. Crossmark Global Holdings Inc. bought a new stake in Cutera during the fourth quarter worth approximately $469,000. Comerica Bank bought a new stake in Cutera during the fourth quarter worth approximately $709,000. Alambic Investment Management L.P. bought a new stake in Cutera during the fourth quarter worth approximately $204,000. Finally, Texas Permanent School Fund bought a new stake in Cutera during the fourth quarter worth approximately $425,000. 95.29% of the stock is currently owned by institutional investors.
In other news, EVP Larry Laber sold 5,843 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $45.35, for a total transaction of $264,980.05. Following the transaction, the executive vice president now owns 79,463 shares of the company’s stock, valued at $3,603,647.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James A. Reinstein sold 7,175 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $45.35, for a total value of $325,386.25. Following the transaction, the insider now directly owns 132,284 shares in the company, valued at approximately $5,999,079.40. The disclosure for this sale can be found here. Corporate insiders own 11.60% of the company’s stock.
Several brokerages have weighed in on CUTR. Zacks Investment Research cut Cutera from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. BidaskClub raised Cutera from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Stephens began coverage on Cutera in a research note on Tuesday, March 13th. They set an “overweight” rating and a $60.00 price objective on the stock. Finally, Gabelli reissued a “buy” rating on shares of Cutera in a research note on Friday, February 16th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Cutera has a consensus rating of “Buy” and a consensus target price of $45.00.
Cutera stock opened at $54.60 on Monday. The company has a market capitalization of $756.48, a P/E ratio of 26.63, a PEG ratio of 1.18 and a beta of 0.51. Cutera, Inc. has a 52 week low of $18.50 and a 52 week high of $54.85.
Cutera (NASDAQ:CUTR) last released its earnings results on Wednesday, February 14th. The medical device company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. The firm had revenue of $47.60 million for the quarter, compared to analysts’ expectations of $43.96 million. Cutera had a return on equity of 18.31% and a net margin of 19.80%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. equities analysts predict that Cutera, Inc. will post 1.1 earnings per share for the current fiscal year.
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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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