Cutera (CUTR) Lifted to “Hold” at Zacks Investment Research
Cutera (NASDAQ:CUTR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Cutera Inc designs, develops, manufactures and markets the CoolGlide family of products for use in laser and other light-based aesthetic applications. The original CoolGlide CV provides permanent hair reduction on all skin types. The second generation CoolGlide Excel incorporated features that added the capability to treat a variety of vascular lesions, which include facial telangiectasia, spider and reticular leg veins. The CoolGlide Vantage added non-ablative skin therapy to the range of applications offered by the system. “
Other analysts have also recently issued reports about the stock. Maxim Group reissued a “hold” rating on shares of Cutera in a research note on Wednesday, November 8th. Roth Capital boosted their price objective on shares of Cutera from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, September 12th. Finally, BidaskClub raised shares of Cutera from a “hold” rating to a “buy” rating in a research note on Tuesday, December 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Cutera has a consensus rating of “Buy” and an average price target of $37.33.
Shares of Cutera (CUTR) traded down $0.35 during midday trading on Tuesday, hitting $46.40. 80,600 shares of the stock traded hands, compared to its average volume of 184,186. Cutera has a one year low of $18.00 and a one year high of $48.95. The stock has a market cap of $654.74, a PE ratio of 61.87, a PEG ratio of 1.32 and a beta of 0.52.
Cutera (NASDAQ:CUTR) last announced its quarterly earnings data on Tuesday, November 7th. The medical device company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.34. Cutera had a net margin of 7.99% and a return on equity of 18.73%. The company had revenue of $38.17 million during the quarter, compared to analysts’ expectations of $34.82 million. During the same period in the previous year, the company earned $0.12 EPS. The business’s quarterly revenue was up 26.1% compared to the same quarter last year. analysts predict that Cutera will post 0.55 earnings per share for the current year.
In related news, insider James A. Reinstein sold 7,175 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $45.35, for a total transaction of $325,386.25. Following the completion of the sale, the insider now directly owns 132,284 shares of the company’s stock, valued at approximately $5,999,079.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David B. Apfelberg sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $39.90, for a total transaction of $39,900.00. Following the sale, the director now directly owns 10,259 shares of the company’s stock, valued at $409,334.10. The disclosure for this sale can be found here. Insiders have sold a total of 37,968 shares of company stock valued at $1,676,086 over the last three months. Corporate insiders own 3.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CUTR. Stonepine Capital Management LLC purchased a new stake in Cutera during the 2nd quarter worth $4,533,000. Ameriprise Financial Inc. purchased a new stake in Cutera during the 2nd quarter worth $3,175,000. EAM Investors LLC boosted its position in Cutera by 148.7% during the 2nd quarter. EAM Investors LLC now owns 197,485 shares of the medical device company’s stock worth $5,115,000 after purchasing an additional 118,073 shares during the period. Parametric Portfolio Associates LLC purchased a new stake in Cutera during the 2nd quarter worth $1,623,000. Finally, Russell Investments Group Ltd. boosted its position in Cutera by 55.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 171,515 shares of the medical device company’s stock worth $7,093,000 after purchasing an additional 60,986 shares during the period. 87.64% of the stock is owned by hedge funds and other institutional investors.
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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