Brokerages Set Cutera, Inc. (CUTR) Price Target at $39.50
Cutera, Inc. (NASDAQ:CUTR) has earned a consensus rating of “Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $39.50.
Several analysts recently commented on the stock. Maxim Group reaffirmed a “hold” rating on shares of Cutera in a report on Wednesday, November 8th. BidaskClub raised shares of Cutera from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. TheStreet raised shares of Cutera from a “c” rating to a “b” rating in a report on Friday, August 18th. Roth Capital boosted their price objective on shares of Cutera from $32.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Finally, Gabelli reissued a “buy” rating on shares of Cutera in a report on Wednesday, August 9th.
Shares of Cutera (NASDAQ CUTR) traded up $0.05 during mid-day trading on Tuesday, hitting $42.50. 340,134 shares of the company traded hands, compared to its average volume of 141,468. The company has a market cap of $594.51, a P/E ratio of 56.03, a price-to-earnings-growth ratio of 1.89 and a beta of 0.49. Cutera has a 1-year low of $14.45 and a 1-year high of $47.15.
Cutera (NASDAQ:CUTR) last announced its earnings results on Tuesday, November 7th. The medical device company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.08 by $0.34. The business had revenue of $38.17 million during the quarter, compared to the consensus estimate of $34.82 million. Cutera had a net margin of 7.99% and a return on equity of 18.73%. Cutera’s revenue was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 EPS. equities research analysts forecast that Cutera will post 0.55 EPS for the current year.
Cutera announced that its board has initiated a share buyback plan on Monday, August 7th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the medical device company to buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, EVP Larry Laber sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.30, for a total value of $55,375.00. Following the completion of the transaction, the executive vice president now directly owns 70,463 shares in the company, valued at approximately $3,121,510.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ronald J. Santilli sold 5,775 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $40.43, for a total transaction of $233,483.25. Following the completion of the transaction, the chief financial officer now owns 50,012 shares of the company’s stock, valued at $2,021,985.16. The disclosure for this sale can be found here. Insiders sold a total of 27,672 shares of company stock valued at $1,080,901 in the last three months. Insiders own 11.60% of the company’s stock.
Large investors have recently modified their holdings of the company. Kennedy Capital Management Inc. acquired a new position in Cutera during the 2nd quarter worth approximately $9,426,000. Stonepine Capital Management LLC acquired a new position in Cutera during the 2nd quarter worth approximately $4,533,000. Summit Creek Advisors LLC acquired a new position in Cutera during the 2nd quarter worth approximately $3,380,000. Ameriprise Financial Inc. acquired a new position in Cutera during the 2nd quarter worth approximately $3,175,000. Finally, EAM Investors LLC increased its position in Cutera by 148.7% during the 2nd quarter. EAM Investors LLC now owns 197,485 shares of the medical device company’s stock worth $5,115,000 after purchasing an additional 118,073 shares in the last quarter. Institutional investors own 89.72% 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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