Cutera, Inc. (NASDAQ:CUTR) Upgraded to “Strong-Buy” at BidaskClub
BidaskClub upgraded shares of Cutera, Inc. (NASDAQ:CUTR) from a buy rating to a strong-buy rating in a research note published on Wednesday morning.
A number of other brokerages have also recently weighed in on CUTR. Sidoti reissued a buy rating and set a $32.00 price target (up from $30.00) on shares of Cutera in a research report on Friday, July 7th. Zacks Investment Research cut shares of Cutera from a buy rating to a hold rating in a research report on Monday, June 26th. Roth Capital began coverage on shares of Cutera in a research report on Monday, June 26th. They set a buy rating and a $32.00 price target on the stock. Finally, TheStreet cut shares of Cutera from a b- rating to a c rating in a research report on Monday, May 1st. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $31.50.
Shares of Cutera (NASDAQ CUTR) opened at 27.00 on Wednesday. Cutera has a 12 month low of $10.43 and a 12 month high of $29.25. The firm has a market cap of $374.17 million, a P/E ratio of 103.45 and a beta of 0.60. The stock’s 50 day moving average price is $23.01 and its 200-day moving average price is $20.36.
Cutera (NASDAQ:CUTR) last announced its quarterly earnings results on Monday, May 1st. The medical device company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). The company had revenue of $29.30 million for the quarter, compared to analysts’ expectations of $29 million. Cutera had a net margin of 2.89% and a return on equity of 9.21%. The business’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.16) earnings per share. Equities research analysts anticipate that Cutera will post $0.46 earnings per share for the current fiscal year.
In related news, CFO Ronald J. Santilli sold 20,856 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $19.90, for a total value of $415,034.40. Following the sale, the chief financial officer now directly owns 92,178 shares of the company’s stock, valued at approximately $1,834,342.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ronald J. Santilli sold 60,991 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $19.99, for a total transaction of $1,219,210.09. Following the completion of the sale, the chief financial officer now directly owns 174,025 shares in the company, valued at $3,478,759.75. The disclosure for this sale can be found here. Insiders sold a total of 160,410 shares of company stock worth $3,410,284 over the last ninety days. 3.30% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. American International Group Inc. boosted its stake in Cutera by 7.0% in the first quarter. American International Group Inc. now owns 7,221 shares of the medical device company’s stock valued at $149,000 after buying an additional 475 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in Cutera during the first quarter valued at approximately $202,000. Federated Investors Inc. PA boosted its stake in Cutera by 143.7% in the fourth quarter. Federated Investors Inc. PA now owns 12,568 shares of the medical device company’s stock valued at $218,000 after buying an additional 7,410 shares in the last quarter. Trexquant Investment LP bought a new stake in Cutera during the first quarter valued at approximately $267,000. Finally, Russell Investments Group Ltd. bought a new stake in Cutera during the fourth quarter valued at approximately $321,000. 81.42% 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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