Cutera, Inc. (CUTR) CFO Ronald J. Santilli Sells 5,775 Shares
Cutera, Inc. (NASDAQ:CUTR) CFO Ronald J. Santilli sold 5,775 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $40.43, for a total value of $233,483.25. Following the transaction, the chief financial officer now directly owns 50,012 shares of the company’s stock, valued at approximately $2,021,985.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Cutera, Inc. (NASDAQ CUTR) traded down 2.59% during mid-day trading on Wednesday, hitting $39.45. The stock had a trading volume of 240,049 shares. The stock has a market cap of $552.50 million, a price-to-earnings ratio of 84.84 and a beta of 0.52. Cutera, Inc. has a 12 month low of $10.70 and a 12 month high of $41.15. The stock’s 50-day moving average price is $33.06 and its 200-day moving average price is $24.97.
Cutera (NASDAQ:CUTR) last announced its earnings results on Monday, August 7th. The medical device company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.10. The firm had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $32.08 million. Cutera had a return on equity of 11.64% and a net margin of 5.07%. The company’s quarterly revenue was up 32.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. On average, analysts predict that Cutera, Inc. will post $0.52 earnings per share for the current year.
Cutera declared that its board has initiated a share buyback plan on Monday, August 7th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the medical device company to buy up to 6.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley boosted its holdings in Cutera by 23.3% during the 1st quarter. Morgan Stanley now owns 67,345 shares of the medical device company’s stock valued at $1,395,000 after acquiring an additional 12,734 shares during the period. Scout Investments Inc. purchased a new position in Cutera during the 2nd quarter valued at $1,454,000. Kennedy Capital Management Inc. purchased a new position in Cutera during the 2nd quarter valued at $9,426,000. Driehaus Capital Management LLC purchased a new position in Cutera during the 1st quarter valued at $363,000. Finally, Insight Capital Research & Management Inc. purchased a new position in Cutera during the 2nd quarter valued at $797,000. Institutional investors own 89.15% of the company’s stock.
Several brokerages have issued reports on CUTR. Roth Capital upped their target price on Cutera from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday. TheStreet raised Cutera from a “c” rating to a “b” rating in a research note on Friday, August 18th. BidaskClub raised Cutera from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Gabelli reaffirmed a “buy” rating on shares of Cutera in a research note on Wednesday, August 9th. Finally, Maxim Group reissued a “buy” rating and set a $33.00 price objective (up previously from $27.00) on shares of Cutera in a research note on Thursday, July 13th. Six investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $35.25.
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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