Cutera, Inc. (NASDAQ:CUTR) Given Buy Rating at Gabelli
Cutera, Inc. (NASDAQ:CUTR)‘s stock had its “buy” rating reaffirmed by analysts at Gabelli in a note issued to investors on Wednesday.
Other research analysts have also recently issued research reports about the company. BidaskClub cut Cutera from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Maxim Group reiterated a “buy” rating and issued a $33.00 target price (up previously from $27.00) on shares of Cutera in a report on Thursday, July 13th. Roth Capital initiated coverage on Cutera in a report on Monday, June 26th. They issued a “buy” rating and a $32.00 target price on the stock. Zacks Investment Research upgraded Cutera from a “sell” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Tuesday, June 20th. Finally, Sidoti reiterated a “buy” rating and issued a $30.00 target price (up previously from $27.00) on shares of Cutera in a report on Saturday, June 3rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $33.25.
Shares of Cutera (NASDAQ CUTR) traded down 0.233% during trading on Wednesday, hitting $32.175. The stock had a trading volume of 75,634 shares. The stock’s 50 day moving average is $26.06 and its 200-day moving average is $21.93. Cutera has a 12-month low of $10.54 and a 12-month high of $32.70. The company has a market cap of $445.88 million, a PE ratio of 123.276 and a beta of 0.60.
Cutera (NASDAQ:CUTR) last issued its earnings results on Monday, August 7th. The medical device company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.10. Cutera had a return on equity of 11.77% and a net margin of 5.07%. The firm had revenue of $36.40 million for the quarter, compared to analysts’ expectations of $32.08 million. During the same quarter last year, the firm earned $0.07 earnings per share. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. Analysts forecast that Cutera will post $0.47 earnings per share for the current year.
Cutera declared that its Board of Directors has approved a share buyback program on Monday, August 7th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the medical device company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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In related news, Director David A. Gollnick sold 10,000 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $25.08, for a total value of $250,800.00. Following the transaction, the director now owns 26,641 shares in the company, valued at $668,156.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ronald J. Santilli sold 3,857 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $22.95, for a total value of $88,518.15. Following the completion of the transaction, the chief financial officer now owns 88,321 shares in the company, valued at approximately $2,026,966.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,563 shares of company stock worth $1,485,360. 3.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Scout Investments Inc. acquired a new position in Cutera during the second quarter valued at approximately $1,454,000. Federated Investors Inc. PA boosted its position in Cutera by 2.5% in the second quarter. Federated Investors Inc. PA now owns 58,415 shares of the medical device company’s stock valued at $1,513,000 after buying an additional 1,427 shares during the period. Cadence Capital Management LLC acquired a new position in Cutera during the second quarter valued at approximately $1,249,000. DE Burlo Group Inc. acquired a new position in Cutera during the second quarter valued at approximately $1,212,000. Finally, Gamco Investors INC. ET AL boosted its position in Cutera by 3.7% in the second quarter. Gamco Investors INC. ET AL now owns 576,363 shares of the medical device company’s stock valued at $14,928,000 after buying an additional 20,363 shares during the period. Institutional investors and hedge funds own 82.87% of the company’s stock.
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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