Cutera, Inc. (CUTR) Lowered to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Cutera, Inc. (NASDAQ:CUTR) from a buy rating to a hold rating in a research note published on Tuesday morning.
According to Zacks, “Cutera Inc designs, develops, manufactures and markets the CoolGlide family of products for use in laser and other light-based aesthetic applications. The original CoolGlide CV provides permanent hair reduction on all skin types. The second generation CoolGlide Excel incorporated features that added the capability to treat a variety of vascular lesions, which include facial telangiectasia, spider and reticular leg veins. The CoolGlide Vantage added non-ablative skin therapy to the range of applications offered by the system. “
A number of other brokerages have also weighed in on CUTR. Roth Capital raised their price objective on Cutera from $41.00 to $47.00 and gave the company a buy rating in a research report on Tuesday, September 12th. Maxim Group lowered Cutera from a buy rating to a hold rating in a research report on Thursday, September 14th. BidaskClub upgraded Cutera from a hold rating to a buy rating in a research report on Saturday, August 12th. TheStreet upgraded Cutera from a c rating to a b rating in a research report on Friday, August 18th. Finally, Gabelli reiterated a buy rating on shares of Cutera in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $37.33.
Cutera (NASDAQ:CUTR) opened at 43.40 on Tuesday. The stock has a market capitalization of $607.82 million, a PE ratio of 93.33 and a beta of 0.53. The stock has a 50 day moving average price of $39.44 and a 200-day moving average price of $27.95. Cutera has a 12-month low of $12.45 and a 12-month high of $44.40.
Cutera (NASDAQ:CUTR) last issued its quarterly earnings data on Monday, August 7th. The medical device company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.10. The firm had revenue of $36.40 million during the quarter, compared to analyst estimates of $32.08 million. Cutera had a return on equity of 11.64% and a net margin of 5.07%. The business’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. On average, equities analysts anticipate that Cutera will post $0.52 earnings per share for the current fiscal year.
Cutera declared that its board has approved a stock buyback 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 buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other Cutera news, EVP Ronald J. Santilli sold 1,068 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $33.20, for a total transaction of $35,457.60. Following the completion of the transaction, the executive vice president now owns 87,253 shares in the company, valued at $2,896,799.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Apfelberg sold 1,000 shares of the business’s stock in a transaction that occurred on 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. In the last quarter, insiders sold 56,309 shares of company stock valued at $1,965,520. 3.30% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in CUTR. Kennedy Capital Management Inc. purchased a new position in shares of Cutera during the second quarter valued at approximately $9,426,000. Stonepine Capital Management LLC purchased a new position in shares of Cutera during the second quarter valued at approximately $4,533,000. Renaissance Technologies LLC boosted its position in shares of Cutera by 13.4% during the first quarter. Renaissance Technologies LLC now owns 1,205,400 shares of the medical device company’s stock valued at $24,952,000 after buying an additional 142,140 shares during the period. Summit Creek Advisors LLC purchased a new position in shares of Cutera during the second quarter valued at approximately $3,380,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of Cutera during the second quarter valued at approximately $3,175,000. Institutional investors and hedge funds own 89.15% 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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