Vanguard Group Inc. Boosts Position in Cutera, Inc. (CUTR)
Vanguard Group Inc. boosted its holdings in Cutera, Inc. (NASDAQ:CUTR) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 570,948 shares of the medical device company’s stock after purchasing an additional 18,549 shares during the quarter. Vanguard Group Inc. owned about 4.12% of Cutera worth $14,788,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of CUTR. Kennedy Capital Management Inc. acquired a new stake in Cutera in the 2nd quarter valued at $9,426,000. Ameriprise Financial Inc. acquired a new stake in Cutera in the 2nd quarter valued at $3,175,000. Rice Hall James & Associates LLC acquired a new stake in Cutera in the 2nd quarter valued at $2,897,000. Russell Investments Group Ltd. grew its position in Cutera by 289.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 110,529 shares of the medical device company’s stock valued at $2,862,000 after purchasing an additional 82,123 shares during the period. Finally, Scout Investments Inc. acquired a new stake in Cutera in the 2nd quarter valued at $1,454,000. 89.72% of the stock is owned by institutional investors and hedge funds.
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CUTR has been the topic of several recent analyst reports. Maxim Group restated a “hold” rating on shares of Cutera in a research note on Wednesday, November 8th. BidaskClub upgraded Cutera from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. TheStreet upgraded Cutera from a “c” rating to a “b” rating in a research note on Friday, August 18th. Roth Capital raised their price objective on Cutera from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. Finally, Gabelli restated a “buy” rating on shares of Cutera in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $37.33.
In other news, CFO Ronald J. Santilli sold 5,775 shares of Cutera stock in a transaction on Monday, September 11th. The stock was sold at an average price of $40.43, for a total transaction of $233,483.25. Following the sale, the chief financial officer now directly owns 50,012 shares in the company, valued at approximately $2,021,985.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Apfelberg sold 1,000 shares of Cutera 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 have sold 27,672 shares of company stock worth $1,080,901. Company insiders own 11.60% of the company’s stock.
Cutera, Inc. (CUTR) opened at $42.50 on Friday. Cutera, Inc. has a 52 week low of $14.45 and a 52 week high of $47.15. The firm has a market capitalization of $588.84, a price-to-earnings ratio of 54.49, a price-to-earnings-growth ratio of 1.84 and a beta of 0.49.
Cutera (NASDAQ:CUTR) last issued its quarterly earnings data on Tuesday, November 7th. The medical device company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.34. Cutera had a return on equity of 18.73% and a net margin of 7.99%. The business had revenue of $38.17 million for the quarter, compared to analysts’ expectations of $34.82 million. During the same period last year, the business earned $0.12 EPS. The business’s revenue was up 26.1% on a year-over-year basis. equities analysts forecast that Cutera, Inc. will post 0.55 EPS for the current year.
Cutera announced that its board has approved a share buyback program on Monday, August 7th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the medical device company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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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