Cutera, Inc. (CUTR) Receives $36.00 Average Target Price from Analysts
Cutera, Inc. (NASDAQ:CUTR) has received an average recommendation of “Buy” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $36.00.
CUTR has been the topic of a number of research analyst reports. BidaskClub raised Cutera from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Gabelli reissued a “buy” rating on shares of Cutera in a research note on Wednesday, August 9th. Maxim Group lowered Cutera from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Zacks Investment Research raised Cutera from a “sell” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Tuesday, June 20th. Finally, TheStreet raised Cutera from a “c” rating to a “b” rating in a research note on Friday, August 18th.
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Cutera (CUTR) traded up 4.33% on Monday, reaching $42.20. 164,279 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $34.87 and a 200-day moving average price of $25.64. Cutera has a 1-year low of $11.68 and a 1-year high of $42.80. The company has a market capitalization of $591.01 million, a PE ratio of 90.75 and a beta of 0.52.
Cutera (NASDAQ:CUTR) last issued its quarterly earnings results on Monday, August 7th. The medical device company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. Cutera had a return on equity of 11.64% and a net margin of 5.07%. The firm had revenue of $36.40 million for the quarter, compared to analyst estimates of $32.08 million. During the same period last year, the company earned $0.07 EPS. The firm’s quarterly revenue was up 32.4% on a year-over-year basis. On average, equities research analysts anticipate that Cutera will post $0.52 earnings per share for the current year.
Cutera declared that its board has authorized a stock repurchase 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 repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, EVP Ronald J. Santilli sold 28,519 shares of Cutera stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $34.01, for a total value of $969,931.19. Following the transaction, the executive vice president now directly owns 75,253 shares of the company’s stock, valued at approximately $2,559,354.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Apfelberg sold 1,000 shares of Cutera stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $38.45, for a total value of $38,450.00. The disclosure for this sale can be found here. Insiders sold a total of 56,309 shares of company stock worth $1,965,520 over the last ninety days. Corporate insiders own 11.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CUTR. Teachers Advisors LLC lifted its stake in shares of Cutera by 56.0% in the 4th quarter. Teachers Advisors LLC now owns 38,794 shares of the medical device company’s stock valued at $673,000 after purchasing an additional 13,923 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Cutera by 55.2% in the 1st quarter. Russell Investments Group Ltd. now owns 28,406 shares of the medical device company’s stock valued at $589,000 after purchasing an additional 10,107 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Cutera in the 1st quarter valued at about $525,000. Trexquant Investment LP acquired a new position in shares of Cutera in the 1st quarter valued at about $267,000. Finally, Oxford Asset Management lifted its stake in shares of Cutera by 98.4% in the 1st quarter. Oxford Asset Management now owns 52,100 shares of the medical device company’s stock valued at $1,078,000 after purchasing an additional 25,839 shares in the last quarter. 89.15% of the stock is currently owned by institutional investors and hedge funds.
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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