Russell Investments Group Ltd. Boosts Position in Cutera, Inc. (CUTR)
Russell Investments Group Ltd. increased its position in shares of Cutera, Inc. (NASDAQ:CUTR) by 289.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 110,529 shares of the medical device company’s stock after buying an additional 82,123 shares during the period. Russell Investments Group Ltd. owned 0.80% of Cutera worth $2,862,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. American International Group Inc. increased its stake in Cutera by 7.0% in the first quarter. American International Group Inc. now owns 7,221 shares of the medical device company’s stock worth $149,000 after buying an additional 475 shares during the last quarter. JPMorgan Chase & Co. increased its stake in 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 during the last quarter. Martingale Asset Management L P increased its stake in Cutera by 201.8% in the first quarter. Martingale Asset Management L P now owns 51,305 shares of the medical device company’s stock worth $1,063,000 after buying an additional 34,305 shares during the last quarter. Paradigm Capital Management Inc. NY increased its stake in 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 during the last quarter. Finally, Oxford Asset Management increased its stake in Cutera by 98.4% in the first quarter. Oxford Asset Management now owns 52,100 shares of the medical device company’s stock worth $1,078,000 after buying an additional 25,839 shares during the last quarter. Institutional investors own 89.15% of the company’s stock.
Shares of Cutera, Inc. (NASDAQ:CUTR) traded up 0.41% on Thursday, hitting $36.90. 76,588 shares of the stock were exchanged. The firm’s 50-day moving average is $29.52 and its 200-day moving average is $23.53. The company has a market cap of $516.78 million, a P/E ratio of 79.35 and a beta of 0.60. Cutera, Inc. has a one year low of $10.54 and a one year high of $37.35.
Cutera (NASDAQ:CUTR) last released its earnings results on Monday, August 7th. The medical device company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. Cutera had a net margin of 5.07% and a return on equity of 11.64%. The business had revenue of $36.40 million during the quarter, compared to analyst estimates of $32.08 million. During the same period in the prior year, the business earned $0.07 earnings per share. The business’s quarterly revenue was up 32.4% on a year-over-year basis. On average, equities analysts forecast that Cutera, Inc. will post $0.52 EPS for the current fiscal year.
Cutera announced that its board has approved a stock repurchase plan on Monday, August 7th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the medical device company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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A number of research firms have recently issued reports on CUTR. BidaskClub upgraded shares of Cutera from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. TheStreet upgraded shares of Cutera from a “c” rating to a “b” rating in a research report on Friday, August 18th. Gabelli reissued a “buy” rating on shares of Cutera in a research note on Wednesday, August 9th. Maxim Group reissued a “buy” rating and set a $33.00 price objective (up from $27.00) on shares of Cutera in a research note on Thursday, July 13th. Finally, Roth Capital raised their price objective on shares of Cutera from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Six analysts have rated the stock with a buy rating, Cutera currently has a consensus rating of “Buy” and an average price target of $33.25.
In related news, EVP Larry Laber sold 2,563 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $24.36, for a total transaction of $62,434.68. Following the completion of the sale, the executive vice president now directly owns 74,203 shares of the company’s stock, valued at $1,807,585.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ronald J. Santilli sold 2,947 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $34.00, for a total transaction of $100,198.00. Following the sale, the executive vice president now directly owns 58,308 shares of the company’s stock, valued at $1,982,472. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,597 shares of company stock valued at $1,865,451. Company insiders own 11.60% 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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