Cutera, Inc. (CUTR) PT Raised to $47.00 at Roth Capital
Cutera, Inc. (NASDAQ:CUTR) had its target price raised by analysts at Roth Capital from $41.00 to $47.00 in a research note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the medical device company’s stock. Roth Capital’s price objective would suggest a potential upside of 16.05% from the company’s previous close.
Several other equities research analysts have also recently commented on CUTR. BidaskClub raised shares of Cutera from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. TheStreet raised shares of Cutera from a “c” rating to a “b” rating in a research report on Friday, August 18th. Gabelli reaffirmed a “buy” rating on shares of Cutera in a research report on Wednesday, August 9th. Zacks Investment Research cut shares of Cutera from a “buy” rating to a “hold” rating in a research report on Monday, June 26th. Finally, Sidoti reaffirmed a “buy” rating and issued a $30.00 price objective (up from $27.00) on shares of Cutera in a research report on Saturday, June 3rd. Six analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $35.25.
Shares of Cutera (NASDAQ:CUTR) traded up 1.63% during trading on Tuesday, reaching $40.50. The company had a trading volume of 274,286 shares. Cutera has a 12-month low of $10.54 and a 12-month high of $41.15. The company has a market cap of $567.20 million, a P/E ratio of 87.10 and a beta of 0.52. The firm has a 50-day moving average of $32.67 and a 200-day moving average of $24.83.
Cutera (NASDAQ:CUTR) last posted its quarterly earnings data 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. The business 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%. The firm’s revenue was up 32.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. On average, equities research analysts anticipate that Cutera will post $0.52 EPS for the current year.
Cutera declared that its board has initiated a stock buyback 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 reacquire 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 shares are undervalued.
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In other news, EVP Miguel Pardos sold 5,000 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $36.00, for a total transaction of $180,000.00. Following the completion of the sale, the executive vice president now directly owns 39,698 shares in the company, valued at $1,429,128. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David A. Gollnick sold 10,000 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $25.08, for a total transaction of $250,800.00. Following the sale, the director now owns 26,641 shares of the company’s stock, valued at $668,156.28. The disclosure for this sale can be found here. Insiders have sold 61,034 shares of company stock valued at $1,983,017 in the last ninety days. Insiders own 3.30% of the company’s stock.
Large investors have recently bought and sold shares of the business. Morgan Stanley grew its holdings in Cutera by 23.3% in the first quarter. Morgan Stanley now owns 67,345 shares of the medical device company’s stock worth $1,395,000 after purchasing an additional 12,734 shares during the period. Scout Investments Inc. acquired a new position in shares of Cutera during the second quarter valued at about $1,454,000. Driehaus Capital Management LLC acquired a new position in shares of Cutera during the first quarter valued at about $363,000. Kennedy Capital Management Inc. acquired a new position in shares of Cutera during the second quarter valued at about $9,426,000. Finally, Insight Capital Research & Management Inc. acquired a new position in shares of Cutera during the second quarter valued at about $797,000. Institutional investors and hedge funds own 89.15% of the company’s stock.
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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