Geode Capital Management LLC Has $2.12 Million Position in Cutera, Inc. (CUTR)
Geode Capital Management LLC decreased its position in shares of Cutera, Inc. (NASDAQ:CUTR) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,437 shares of the medical device company’s stock after selling 7,747 shares during the period. Geode Capital Management LLC owned approximately 0.74% of Cutera worth $2,120,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of CUTR. Systematic Financial Management LP bought a new position in shares of Cutera during the first quarter worth approximately $2,001,000. Paradigm Capital Management Inc. NY raised its position in shares of Cutera by 112.4% in the first quarter. Paradigm Capital Management Inc. NY now owns 128,400 shares of the medical device company’s stock worth $2,658,000 after buying an additional 67,953 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Cutera by 60.4% in the first quarter. JPMorgan Chase & Co. now owns 169,401 shares of the medical device company’s stock worth $3,506,000 after buying an additional 63,758 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Cutera by 57.0% in the first quarter. Acadian Asset Management LLC now owns 145,347 shares of the medical device company’s stock worth $3,009,000 after buying an additional 52,751 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Cutera during the first quarter worth approximately $989,000. 89.15% of the stock is currently owned by institutional investors and hedge funds.
Cutera, Inc. (NASDAQ CUTR) traded up 0.84% during mid-day trading on Monday, reaching $36.00. The company’s stock had a trading volume of 28,880 shares. Cutera, Inc. has a 52-week low of $10.54 and a 52-week high of $36.55. The stock has a market cap of $504.18 million, a PE ratio of 77.42 and a beta of 0.60. The company has a 50 day moving average of $29.52 and a 200-day moving average of $23.53.
Cutera (NASDAQ:CUTR) last posted its quarterly earnings results on Monday, August 7th. The medical device company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates 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 5.07% and a return on equity of 11.64%. Cutera’s revenue was up 32.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. Equities analysts forecast that Cutera, Inc. will post $0.52 earnings per share for the current year.
Cutera announced that its board has approved a share repurchase program on Monday, August 7th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the medical device company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
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CUTR has been the topic of a number of analyst reports. BidaskClub lowered Cutera from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research lowered Cutera from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. Maxim Group reaffirmed 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. Sidoti reaffirmed a “buy” rating and issued a $32.00 target price (up previously from $30.00) on shares of Cutera in a report on Friday, July 7th. Finally, TheStreet lowered Cutera from a “b-” rating to a “c” rating in a report on Monday, May 1st. Six equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of $33.25.
In related news, EVP Ronald J. Santilli sold 2,947 shares of Cutera stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $34.00, for a total value of $100,198.00. Following the sale, the executive vice president now owns 58,308 shares of the company’s stock, valued at approximately $1,982,472. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ronald J. Santilli sold 3,857 shares of Cutera stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $22.95, for a total transaction of $88,518.15. Following the completion of the sale, the chief financial officer now directly owns 88,321 shares in the company, valued at approximately $2,026,966.95. The disclosure for this sale can be found here. Insiders sold a total of 63,411 shares of company stock worth $1,975,933 in the last ninety days. 3.30% of the stock is currently owned by insiders.
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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