Cutera, Inc. (CUTR) Receives Average Recommendation of “Buy” from Analysts
Cutera, Inc. (NASDAQ:CUTR) has received a consensus rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $39.50.
Several research analysts have commented on CUTR shares. BidaskClub lowered Cutera from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Roth Capital lifted their price target on Cutera from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, September 12th. Zacks Investment Research lowered Cutera from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Maxim Group lowered Cutera from a “buy” rating to a “hold” rating in a research report on Thursday, September 14th. Finally, Gabelli reiterated a “buy” rating on shares of Cutera in a research note on Wednesday, August 9th.
In related news, CFO Ronald J. Santilli sold 12,000 shares of Cutera stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $34.00, for a total value of $408,000.00. Following the sale, the chief financial officer now directly owns 75,253 shares in the company, valued at $2,558,602. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David B. Apfelberg sold 1,000 shares of Cutera stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $38.45, for a total value of $38,450.00. The disclosure for this sale can be found here. Insiders sold a total of 66,941 shares of company stock worth $2,403,457 over the last quarter. Company insiders own 3.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Morgan Stanley boosted its stake in shares of Cutera by 23.3% in the first quarter. Morgan Stanley now owns 67,345 shares of the medical device company’s stock valued at $1,395,000 after buying an additional 12,734 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Cutera by 50.7% in the second quarter. Teachers Advisors LLC now owns 62,702 shares of the medical device company’s stock valued at $1,624,000 after buying an additional 21,088 shares in the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of Cutera in the second quarter valued at approximately $9,426,000. Scout Investments Inc. purchased a new stake in shares of Cutera in the second quarter valued at approximately $1,454,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Cutera by 0.8% in the second quarter. Renaissance Technologies LLC now owns 1,214,500 shares of the medical device company’s stock valued at $31,456,000 after buying an additional 9,100 shares in the last quarter. Hedge funds and other institutional investors own 89.72% of the company’s stock.
Cutera (NASDAQ CUTR) opened at $42.65 on Tuesday. The company has a market capitalization of $588.14, a P/E ratio of 54.42, a price-to-earnings-growth ratio of 1.84 and a beta of 0.49. Cutera has a 12-month low of $13.70 and a 12-month high of $44.40.
Cutera (NASDAQ:CUTR) last released its quarterly earnings results on Tuesday, November 7th. The medical device company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.08 by $0.34. The company had revenue of $38.17 million for the quarter, compared to analyst estimates of $34.82 million. Cutera had a return on equity of 18.73% and a net margin of 7.99%. The firm’s revenue was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 earnings per share. research analysts predict that Cutera will post 0.55 earnings per share for the current fiscal year.
Cutera declared that its Board of Directors has authorized a stock repurchase plan on Monday, August 7th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the medical device company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
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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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