Cutera, Inc. (CUTR) Holdings Lowered by Lyon Street Capital LLC
Lyon Street Capital LLC cut its holdings in shares of Cutera, Inc. (NASDAQ:CUTR) by 34.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 360,394 shares of the medical device company’s stock after selling 193,370 shares during the quarter. Cutera accounts for approximately 3.8% of Lyon Street Capital LLC’s holdings, making the stock its 6th biggest holding. Lyon Street Capital LLC owned approximately 2.57% of Cutera worth $9,334,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of CUTR. Teachers Advisors LLC raised its stake in shares of Cutera by 56.0% during the fourth quarter. Teachers Advisors LLC now owns 38,794 shares of the medical device company’s stock worth $673,000 after acquiring an additional 13,923 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Cutera by 55.2% during the first quarter. Russell Investments Group Ltd. now owns 28,406 shares of the medical device company’s stock worth $589,000 after acquiring an additional 10,107 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of Cutera during the first quarter worth approximately $525,000. Trexquant Investment LP purchased a new position in shares of Cutera during the first quarter worth approximately $267,000. Finally, Oxford Asset Management raised its stake in shares of Cutera by 98.4% during the first quarter. Oxford Asset Management now owns 52,100 shares of the medical device company’s stock worth $1,078,000 after acquiring an additional 25,839 shares in the last quarter. 89.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cutera, Inc. (NASDAQ CUTR) traded up 1.381% on Thursday, hitting $43.695. 28,707 shares of the company traded hands. The firm’s 50 day moving average price is $38.32 and its 200-day moving average price is $27.22. The stock has a market capitalization of $611.95 million, a price-to-earnings ratio of 93.968 and a beta of 0.53. Cutera, Inc. has a 1-year low of $12.45 and a 1-year high of $44.40.
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. The company had revenue of $36.40 million during the quarter, compared to the consensus estimate of $32.08 million. Cutera had a return on equity of 11.64% and a net margin of 5.07%. Cutera’s revenue was up 32.4% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. On average, equities research analysts expect that Cutera, Inc. will post $0.52 earnings per share for the current year.
Cutera announced that its Board of Directors has initiated a share repurchase program on Monday, August 7th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the medical device company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
Several research analysts have commented on CUTR shares. BidaskClub downgraded shares of Cutera from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Maxim Group reissued a “buy” rating and set a $33.00 price target (up from $27.00) on shares of Cutera in a research note on Thursday, July 13th. Sidoti reissued a “buy” rating and set a $32.00 price target (up from $30.00) on shares of Cutera in a research note on Friday, July 7th. Roth Capital started coverage on shares of Cutera in a research note on Monday, June 26th. They set a “buy” rating and a $32.00 price target on the stock. Finally, Gabelli reissued a “buy” rating on shares of Cutera in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Cutera has an average rating of “Buy” and an average target price of $37.33.
In related news, CFO Ronald J. Santilli sold 5,775 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $40.43, for a total value of $233,483.25. Following the completion of the sale, the chief financial officer now directly owns 50,012 shares in the company, valued at $2,021,985.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David B. Apfelberg sold 1,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was 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. Over the last 90 days, insiders sold 56,309 shares of company stock valued at $1,965,520. 11.60% of the stock is owned by corporate insiders.
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.
Want to see what other hedge funds are holding CUTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cutera, Inc. (NASDAQ:CUTR).
Receive News & Stock Ratings for Cutera Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cutera Inc. and related stocks with our FREE daily email newsletter.