Insider Selling: Cutera, Inc. (CUTR) CFO Sells $408,000.00 in Stock
Cutera, Inc. (NASDAQ:CUTR) CFO Ronald J. Santilli sold 12,000 shares of Cutera stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $34.00, for a total transaction of $408,000.00. Following the completion of the transaction, the chief financial officer now owns 75,253 shares of the company’s stock, valued at $2,558,602. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Cutera, Inc. (NASDAQ CUTR) opened at 33.75 on Monday. The firm has a 50-day moving average of $28.32 and a 200 day moving average of $22.96. Cutera, Inc. has a one year low of $10.54 and a one year high of $34.91. The company has a market capitalization of $472.67 million, a P/E ratio of 72.58 and a beta of 0.60.
Cutera (NASDAQ:CUTR) last announced its quarterly earnings data on Monday, August 7th. The medical device company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.10. The firm had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $32.08 million. Cutera had a net margin of 5.07% and a return on equity of 11.64%. The company’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 earnings per share. On average, equities analysts forecast that Cutera, Inc. will post $0.52 EPS for the current fiscal year.
Cutera declared that its board has authorized a stock buyback plan on Monday, August 7th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the medical device company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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CUTR has been the subject of a number of recent research reports. BidaskClub lowered shares of Cutera from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Gabelli reiterated a “buy” rating on shares of Cutera in a research note on Wednesday, August 9th. Maxim Group reissued a “buy” rating and issued a $33.00 price target (up from $27.00) on shares of Cutera in a report on Thursday, July 13th. Zacks Investment Research raised shares of Cutera from a “sell” rating to a “buy” rating and set a $28.00 price target for the company in a report on Tuesday, June 20th. Finally, Sidoti reissued a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of Cutera in a report on Friday, July 7th. Six investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $33.25.
A number of institutional investors have recently bought and sold shares of CUTR. Icon Advisers Inc. Co. bought a new position in Cutera during the first quarter valued at $571,000. Driehaus Capital Management LLC bought a new position in Cutera during the first quarter valued at $363,000. Insight Capital Research & Management Inc. bought a new position in Cutera during the second quarter valued at $797,000. Oxford Asset Management boosted its position in Cutera by 98.4% in the first quarter. Oxford Asset Management now owns 52,100 shares of the medical device company’s stock valued at $1,078,000 after buying an additional 25,839 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in Cutera by 56.0% in the fourth quarter. Teachers Advisors LLC now owns 38,794 shares of the medical device company’s stock valued at $673,000 after buying an additional 13,923 shares during the last quarter. 84.44% of the stock is 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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