Cutera, Inc. (CUTR) EVP Ronald J. Santilli Sells 1,068 Shares
Cutera, Inc. (NASDAQ:CUTR) EVP Ronald J. Santilli sold 1,068 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $33.20, for a total value of $35,457.60. Following the transaction, the executive vice president now owns 87,253 shares in the company, valued at $2,896,799.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Cutera, Inc. (NASDAQ CUTR) traded up 2.41% during trading on Wednesday, hitting $34.00. The stock had a trading volume of 215,897 shares. The company has a market capitalization of $476.17 million, a price-to-earnings ratio of 73.12 and a beta of 0.60. Cutera, Inc. has a 12-month low of $10.54 and a 12-month high of $34.91. The stock has a 50 day moving average price of $27.89 and a 200 day moving average price of $22.77.
Cutera (NASDAQ:CUTR) last issued its earnings results on Monday, August 7th. The medical device company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.10. The company had revenue of $36.40 million for the quarter, compared to analysts’ expectations of $32.08 million. Cutera had a net margin of 5.35% and a return on equity of 13.05%. Cutera’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 EPS. Equities research analysts forecast that Cutera, Inc. will post $0.52 earnings per share for the current year.
Cutera announced that its Board of Directors has initiated a share buyback plan on Monday, August 7th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the medical device company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
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Several equities analysts have weighed in on the company. BidaskClub upgraded Cutera from a “hold” rating to a “buy” rating in a report on Saturday. Gabelli restated a “buy” rating on shares of Cutera in a report on Wednesday, August 9th. Roth Capital raised their target price on Cutera from $32.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research lowered Cutera from a “buy” rating to a “hold” rating in a report on Monday, June 26th. Finally, Sidoti restated a “buy” rating and set a $30.00 target price (up from $27.00) on shares of Cutera in a report on Saturday, June 3rd. Six analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $33.25.
Several large investors have recently modified their holdings of CUTR. Kennedy Capital Management Inc. purchased a new stake in shares of Cutera during the second quarter worth about $9,426,000. Stonepine Capital Management LLC purchased a new stake in shares of Cutera during the second quarter worth about $4,533,000. Renaissance Technologies LLC boosted its stake in shares of Cutera by 13.4% in the first quarter. Renaissance Technologies LLC now owns 1,205,400 shares of the medical device company’s stock worth $24,952,000 after buying an additional 142,140 shares during the last quarter. Summit Creek Advisors LLC purchased a new stake in shares of Cutera during the second quarter worth about $3,380,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Cutera during the second quarter worth about $3,175,000. 84.44% of the stock is currently owned by institutional investors.
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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