Cutera, Inc. (CUTR) Shares Bought by Martingale Asset Management L P
Martingale Asset Management L P increased its position in Cutera, Inc. (NASDAQ:CUTR) by 9.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,905 shares of the medical device company’s stock after acquiring an additional 4,600 shares during the period. Martingale Asset Management L P owned approximately 0.40% of Cutera worth $1,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of CUTR. Teachers Advisors LLC raised its stake in Cutera by 56.0% in the 4th quarter. Teachers Advisors LLC now owns 38,794 shares of the medical device company’s stock worth $673,000 after acquiring an additional 13,923 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Cutera by 55.2% in the 1st quarter. Russell Investments Group Ltd. now owns 28,406 shares of the medical device company’s stock worth $589,000 after acquiring an additional 10,107 shares during the last quarter. American Century Companies Inc. purchased a new position in Cutera in the 1st quarter worth $525,000. Trexquant Investment LP acquired a new stake in Cutera during the 1st quarter worth about $267,000. Finally, Oxford Asset Management grew its position in Cutera by 98.4% during the 1st quarter. Oxford Asset Management now owns 52,100 shares of the medical device company’s stock worth $1,078,000 after purchasing an additional 25,839 shares during the period. Institutional investors own 89.15% of the company’s stock.
Several equities research analysts have weighed in on CUTR shares. TheStreet raised Cutera from a “c” rating to a “b” rating in a research report on Friday, August 18th. BidaskClub downgraded Cutera from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Maxim Group reaffirmed a “buy” rating and set a $33.00 price target (up from $27.00) on shares of Cutera in a research report on Thursday, July 13th. Roth Capital started coverage on Cutera in a research report on Monday, June 26th. They set a “buy” rating and a $32.00 price target on the stock. Finally, Zacks Investment Research raised Cutera from a “sell” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, June 20th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $35.25.
In other news, EVP Larry Laber sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $25.88, for a total transaction of $25,880.00. Following the transaction, the executive vice president now directly owns 73,140 shares in the company, valued at $1,892,863.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $233,483.25. Following the transaction, the chief financial officer now owns 50,012 shares in the company, valued at $2,021,985.16. The disclosure for this sale can be found here. Insiders sold 67,809 shares of company stock valued at $2,254,950 over the last ninety days. Corporate insiders own 11.60% of the company’s stock.
Shares of Cutera, Inc. (NASDAQ:CUTR) opened at 39.90 on Friday. The firm has a market capitalization of $558.80 million, a PE ratio of 85.81 and a beta of 0.52. Cutera, Inc. has a 52-week low of $11.50 and a 52-week high of $41.15. The stock’s 50 day moving average price is $34.87 and its 200-day moving average price is $25.64.
Cutera (NASDAQ:CUTR) last announced its earnings results on Monday, August 7th. The medical device company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. Cutera had a net margin of 5.07% and a return on equity of 11.64%. The business had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $32.08 million. During the same period in the prior year, the company earned $0.07 earnings per share. The business’s revenue was up 32.4% compared to the same quarter last year. Equities research analysts anticipate that Cutera, Inc. will post $0.52 EPS for the current fiscal year.
Cutera declared that its Board of Directors has initiated a share repurchase program on Monday, August 7th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the medical device company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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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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