Icon Advisers Inc. Co. Sells 30,093 Shares of Cutera, Inc. (CUTR)
Icon Advisers Inc. Co. lessened its position in shares of Cutera, Inc. (NASDAQ:CUTR) by 36.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,310 shares of the medical device company’s stock after selling 30,093 shares during the period. Icon Advisers Inc. Co. owned 0.37% of Cutera worth $2,163,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Greenwood Capital Associates LLC purchased a new position in shares of Cutera during the 3rd quarter valued at $210,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Cutera during the 3rd quarter valued at $264,000. Nationwide Fund Advisors lifted its position in shares of Cutera by 8.4% during the 2nd quarter. Nationwide Fund Advisors now owns 7,216 shares of the medical device company’s stock valued at $187,000 after buying an additional 561 shares during the last quarter. American International Group Inc. lifted its position in shares of Cutera by 7.0% during the 1st quarter. American International Group Inc. now owns 7,221 shares of the medical device company’s stock valued at $149,000 after buying an additional 475 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Cutera during the 2nd quarter valued at $225,000. 87.81% of the stock is currently owned by hedge funds and other institutional investors.
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In related news, Director David B. Apfelberg sold 1,000 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $38.45, for a total transaction of $38,450.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Larry Laber sold 1,250 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $44.30, for a total value of $55,375.00. Following the sale, the executive vice president now directly owns 70,463 shares in the company, valued at approximately $3,121,510.90. The disclosure for this sale can be found here. Insiders have sold a total of 25,725 shares of company stock worth $1,023,253 in the last three months. 11.60% of the stock is currently owned by insiders.
Shares of Cutera, Inc. (NASDAQ:CUTR) opened at $40.75 on Friday. The stock has a market capitalization of $564.59, a PE ratio of 52.24, a P/E/G ratio of 1.76 and a beta of 0.49. Cutera, Inc. has a 1-year low of $15.05 and a 1-year high of $47.15.
Cutera (NASDAQ:CUTR) last issued its quarterly earnings data on Tuesday, November 7th. The medical device company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.34. The business had revenue of $38.17 million for the quarter, compared to analysts’ expectations of $34.82 million. Cutera had a return on equity of 18.73% and a net margin of 7.99%. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 EPS. analysts anticipate that Cutera, Inc. will post 0.55 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 buyback $25.00 million in outstanding shares. This buyback authorization authorizes the medical device company to buy up to 6.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
A number of brokerages have recently commented on CUTR. Maxim Group reaffirmed a “hold” rating on shares of Cutera in a research report on Wednesday, November 8th. Zacks Investment Research cut Cutera from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Roth Capital upped their price target on Cutera from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, September 12th. TheStreet raised Cutera from a “c” rating to a “b” rating in a research report on Friday, August 18th. Finally, BidaskClub raised Cutera from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Cutera presently has an average rating of “Buy” and an average target price of $37.33.
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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