Cutera Inc. (CUTR) Lifted to “Buy” at Zacks Investment Research
Cutera Inc. (NASDAQ:CUTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $16.00 target price on the medical device company’s stock. Zacks Investment Research’s price objective would suggest a potential upside of 11.50% from the stock’s previous close.
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. “
Shares of Cutera (NASDAQ:CUTR) traded up 0.77% on Monday, reaching $14.35. The company’s stock had a trading volume of 20,284 shares. Cutera has a 1-year low of $9.83 and a 1-year high of $15.10. The stock’s market cap is $187.83 million. The company’s 50 day moving average is $11.91 and its 200-day moving average is $11.21.
Cutera (NASDAQ:CUTR) last posted its quarterly earnings results on Monday, August 1st. The medical device company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.08. Cutera had a negative return on equity of 0.38% and a negative net margin of 2.12%. The business had revenue of $27.50 million for the quarter, compared to analyst estimates of $26.20 million. During the same period last year, the company earned ($0.13) EPS. The firm’s revenue was up 21.8% on a year-over-year basis. On average, equities analysts predict that Cutera will post ($0.02) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of CUTR. BlackRock Investment Management LLC raised its position in Cutera by 1.3% in the second quarter. BlackRock Investment Management LLC now owns 52,138 shares of the medical device company’s stock valued at $584,000 after buying an additional 680 shares in the last quarter. Alambic Investment Management L.P. raised its position in Cutera by 2.2% in the second quarter. Alambic Investment Management L.P. now owns 33,507 shares of the medical device company’s stock valued at $376,000 after buying an additional 707 shares in the last quarter. BlackRock Advisors LLC raised its position in Cutera by 10.8% in the second quarter. BlackRock Advisors LLC now owns 11,095 shares of the medical device company’s stock valued at $124,000 after buying an additional 1,081 shares in the last quarter. Rhumbline Advisers raised its position in Cutera by 7.8% in the second quarter. Rhumbline Advisers now owns 17,006 shares of the medical device company’s stock valued at $191,000 after buying an additional 1,235 shares in the last quarter. Finally, State Street Corp raised its position in Cutera by 1.1% in the first quarter. State Street Corp now owns 163,819 shares of the medical device company’s stock valued at $1,843,000 after buying an additional 1,722 shares in the last quarter. Institutional investors and hedge funds own 79.17% of the company’s stock.
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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