Griffin Securities Research Analysts Increase Earnings Estimates for Cutera Inc. (CUTR)
Cutera Inc. (NASDAQ:CUTR) – Equities research analysts at Griffin Securities increased their FY2016 earnings per share (EPS) estimates for shares of Cutera in a research note issued to investors on Tuesday. Griffin Securities analyst Z. Ajzenman now anticipates that the firm will post earnings of $0.11 per share for the year, up from their prior estimate of ($0.02). Griffin Securities also issued estimates for Cutera’s Q1 2017 earnings at ($0.12) EPS, Q2 2017 earnings at $0.06 EPS, Q3 2017 earnings at $0.13 EPS and FY2017 earnings at $0.40 EPS.
Cutera (NASDAQ:CUTR) last issued its quarterly earnings results on Monday, November 7th. The medical device company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. Cutera had a net margin of 0.38% and a return on equity of 4.82%. The company earned $30.30 million during the quarter, compared to the consensus estimate of $28.84 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. The firm’s quarterly revenue was up 31.3% on a year-over-year basis.
Separately, Zacks Investment Research upgraded shares of Cutera from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Monday, October 17th.
Cutera (NASDAQ:CUTR) opened at 14.00 on Friday. The stock’s market cap is $183.25 million. Cutera has a 52 week low of $9.83 and a 52 week high of $14.95. The company has a 50-day moving average of $13.25 and a 200-day moving average of $11.50.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CUTR. Dalton Greiner Hartman Maher & Co. raised its position in Cutera by 77.7% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 227,992 shares of the medical device company’s stock worth $2,556,000 after buying an additional 99,667 shares during the period. Renaissance Technologies LLC raised its position in Cutera by 8.2% in the first quarter. Renaissance Technologies LLC now owns 1,074,900 shares of the medical device company’s stock worth $12,093,000 after buying an additional 81,069 shares during the period. Stonepine Capital Management LLC raised its position in Cutera by 17.6% in the second quarter. Stonepine Capital Management LLC now owns 438,000 shares of the medical device company’s stock worth $4,910,000 after buying an additional 65,700 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Cutera by 11.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 609,527 shares of the medical device company’s stock worth $6,833,000 after buying an additional 61,028 shares during the period. Finally, Drill Craig A purchased a new position in Cutera during the third quarter worth about $626,000. Institutional investors own 79.51% 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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