EAM Investors LLC Purchases 118,073 Shares of Cutera, Inc. (CUTR)
EAM Investors LLC raised its position in shares of Cutera, Inc. (NASDAQ:CUTR) by 148.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,485 shares of the medical device company’s stock after buying an additional 118,073 shares during the period. Cutera comprises about 0.8% of EAM Investors LLC’s holdings, making the stock its 3rd largest holding. EAM Investors LLC owned about 1.43% of Cutera worth $5,115,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in Cutera by 13.4% in the first quarter. Renaissance Technologies LLC now owns 1,205,400 shares of the medical device company’s stock valued at $24,952,000 after purchasing an additional 142,140 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Cutera by 3.7% in the second quarter. Gamco Investors INC. ET AL now owns 576,363 shares of the medical device company’s stock valued at $14,928,000 after purchasing an additional 20,363 shares during the period. Vanguard Group Inc. boosted its holdings in Cutera by 3.4% in the second quarter. Vanguard Group Inc. now owns 570,948 shares of the medical device company’s stock valued at $14,788,000 after purchasing an additional 18,549 shares during the period. Kennedy Capital Management Inc. purchased a new position in Cutera in the second quarter valued at $9,426,000. Finally, Teton Advisors Inc. boosted its holdings in Cutera by 6.7% in the second quarter. Teton Advisors Inc. now owns 319,000 shares of the medical device company’s stock valued at $8,262,000 after purchasing an additional 20,000 shares during the period. Institutional investors and hedge funds own 89.15% of the company’s stock.
In related news, EVP Ronald J. Santilli sold 28,519 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $34.01, for a total transaction of $969,931.19. Following the completion of the sale, the executive vice president now directly owns 75,253 shares of the company’s stock, valued at $2,559,354.53. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David A. Gollnick sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $25.08, for a total transaction of $250,800.00. Following the sale, the director now directly owns 26,641 shares of the company’s stock, valued at $668,156.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,809 shares of company stock valued at $2,254,950. Insiders own 11.60% of the company’s stock.
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Shares of Cutera, Inc. (NASDAQ CUTR) traded down 0.13% during mid-day trading on Friday, reaching $39.85. The company’s stock had a trading volume of 78,153 shares. The firm has a market capitalization of $558.10 million, a PE ratio of 85.70 and a beta of 0.52. The firm has a 50-day moving average of $34.87 and a 200-day moving average of $25.64. Cutera, Inc. has a 52 week low of $11.50 and a 52 week high of $41.15.
Cutera (NASDAQ:CUTR) last announced its earnings results on Monday, August 7th. The medical device company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.10. Cutera had a net margin of 5.07% and a return on equity of 11.64%. The company had revenue of $36.40 million during the quarter, compared to the consensus estimate of $32.08 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The company’s revenue was up 32.4% on a year-over-year basis. Equities research analysts forecast that Cutera, Inc. will post $0.52 earnings per share for the current fiscal year.
Cutera announced that its board has authorized a share buyback program on Monday, August 7th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the medical device company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of research analysts recently issued reports on CUTR shares. TheStreet upgraded Cutera from a “c” rating to a “b” rating in a report on Friday, August 18th. BidaskClub lowered Cutera from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Maxim Group reiterated a “buy” rating and issued a $33.00 target price (up from $27.00) on shares of Cutera in a report on Thursday, July 13th. Roth Capital started coverage on Cutera in a report on Monday, June 26th. They issued a “buy” rating and a $32.00 target price for the company. Finally, Zacks Investment Research upgraded Cutera from a “sell” rating to a “buy” rating and set a $28.00 target price for the company in a report on Tuesday, June 20th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target 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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