Cutera, Inc. (NASDAQ:CUTR) Expected to Announce Quarterly Sales of $64.30 Million

Brokerages forecast that Cutera, Inc. (NASDAQ:CUTRGet Rating) will announce sales of $64.30 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Cutera’s earnings. The highest sales estimate is $64.60 million and the lowest is $64.00 million. Cutera posted sales of $58.59 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.7%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Cutera will report full year sales of $263.05 million for the current year, with estimates ranging from $259.40 million to $266.70 million. For the next year, analysts forecast that the company will post sales of $301.45 million, with estimates ranging from $288.30 million to $314.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Cutera.

Cutera (NASDAQ:CUTRGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The medical device company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.75). The business had revenue of $58.01 million for the quarter, compared to analysts’ expectations of $57.26 million. Cutera had a negative return on equity of 24.42% and a negative net margin of 5.31%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the company posted ($0.02) earnings per share.

A number of equities analysts have weighed in on CUTR shares. Maxim Group upped their price objective on shares of Cutera from $60.00 to $80.00 in a research report on Thursday, May 5th. Stephens upped their price objective on shares of Cutera from $68.00 to $78.00 in a research report on Monday, May 9th. StockNews.com cut shares of Cutera from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Stifel Nicolaus upped their price objective on shares of Cutera from $60.00 to $70.00 in a research report on Monday, March 28th. Finally, Zacks Investment Research cut shares of Cutera from a “buy” rating to a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.33.

In other Cutera news, CEO David H. Mowry acquired 996 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were purchased at an average price of $50.12 per share, for a total transaction of $49,919.52. Following the completion of the purchase, the chief executive officer now directly owns 131,779 shares in the company, valued at $6,604,763.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David H. Mowry acquired 2,453 shares of the company’s stock in a transaction that occurred on Friday, March 4th. The shares were acquired at an average price of $40.81 per share, for a total transaction of $100,106.93. The disclosure for this purchase can be found here. Corporate insiders own 2.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CUTR. Morgan Stanley increased its stake in shares of Cutera by 195.8% in the second quarter. Morgan Stanley now owns 131,373 shares of the medical device company’s stock valued at $6,442,000 after purchasing an additional 86,964 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Cutera in the third quarter valued at approximately $216,000. Russell Investments Group Ltd. increased its stake in shares of Cutera by 98.5% in the third quarter. Russell Investments Group Ltd. now owns 107,786 shares of the medical device company’s stock valued at $5,020,000 after purchasing an additional 53,475 shares during the period. Citigroup Inc. increased its stake in shares of Cutera by 40.8% in the third quarter. Citigroup Inc. now owns 13,403 shares of the medical device company’s stock valued at $625,000 after purchasing an additional 3,886 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Cutera by 33.3% in the third quarter. Goldman Sachs Group Inc. now owns 89,469 shares of the medical device company’s stock valued at $4,169,000 after purchasing an additional 22,335 shares during the period.

NASDAQ:CUTR traded down $2.53 on Monday, reaching $51.00. The stock had a trading volume of 530,649 shares, compared to its average volume of 464,429. The company has a current ratio of 3.20, a quick ratio of 2.50 and a debt-to-equity ratio of 3.12. The company has a 50-day moving average of $58.43 and a 200 day moving average of $45.37. The stock has a market cap of $926.16 million, a P/E ratio of -68.00 and a beta of 1.79. Cutera has a 12-month low of $31.62 and a 12-month high of $74.38.

About Cutera (Get Rating)

Cutera, Inc, a medical device company, researches, develops, manufactures, markets, and services laser and energy-based aesthetics systems for practitioners worldwide. The company offers Secret PRO, a device that utilizes fractional CO2 for skin resurfacing and radio frequency (RF) microneedling for deep dermal remodeling; truSculpt flex, a bio-electrical muscle stimulation device to treat patients at all fitness levels; excel V+, a vascular and benign pigmented lesion treatment platform; truSculpt iD, for the non-surgical body sculpting market; and Secret RF, a fractional RF microneedling system for tissue coagulation and hemostasis.

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