Cutera (CUTR) Lifted to “Buy” at BidaskClub
BidaskClub upgraded shares of Cutera (NASDAQ:CUTR) from a hold rating to a buy rating in a research report sent to investors on Tuesday.
CUTR has been the topic of several other reports. Maxim Group downgraded Cutera from a buy rating to a hold rating in a research note on Thursday, September 14th. Zacks Investment Research downgraded Cutera from a buy rating to a hold rating in a research note on Tuesday, October 10th. TheStreet upgraded Cutera from a c rating to a b rating in a research note on Friday, August 18th. Finally, Roth Capital boosted their target price on Cutera from $41.00 to $47.00 and gave the stock a buy rating in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Cutera has a consensus rating of Buy and an average price target of $37.33.
Shares of Cutera (CUTR) traded down $1.30 during mid-day trading on Tuesday, reaching $47.20. The company had a trading volume of 2,466,300 shares, compared to its average volume of 160,873. Cutera has a 1 year low of $16.55 and a 1 year high of $48.95. The stock has a market cap of $661.04, a P/E ratio of 62.18, a price-to-earnings-growth ratio of 2.10 and a beta of 0.53.
In other news, Director David B. Apfelberg sold 1,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $39.90, for a total value of $39,900.00. Following the completion of the transaction, the director now owns 10,259 shares of the company’s stock, valued at approximately $409,334.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy J. Oshea sold 4,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $39.21, for a total value of $156,840.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,950 shares of company stock worth $1,076,770. Company insiders own 11.60% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Morgan Stanley raised its holdings in Cutera by 23.3% in the 1st quarter. Morgan Stanley now owns 67,345 shares of the medical device company’s stock worth $1,395,000 after purchasing an additional 12,734 shares during the period. Teachers Advisors LLC raised its holdings in Cutera by 50.7% in the 2nd quarter. Teachers Advisors LLC now owns 62,702 shares of the medical device company’s stock worth $1,624,000 after purchasing an additional 21,088 shares during the period. Kennedy Capital Management Inc. acquired a new position in Cutera in the 2nd quarter worth about $9,426,000. Scout Investments Inc. acquired a new position in Cutera in the 2nd quarter worth about $1,454,000. Finally, Renaissance Technologies LLC raised its holdings in Cutera by 0.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,214,500 shares of the medical device company’s stock worth $31,456,000 after purchasing an additional 9,100 shares during the period. 87.64% of the stock is owned by institutional investors and hedge funds.
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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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