Assenagon Asset Management S.A. purchased a new position in shares of Cutera, Inc. (NASDAQ:CUTR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,074 shares of the medical device company’s stock, valued at approximately $263,000.

Several other hedge funds have also modified their holdings of CUTR. Millennium Management LLC raised its position in Cutera by 123.3% in the 1st quarter. Millennium Management LLC now owns 64,239 shares of the medical device company’s stock worth $3,228,000 after purchasing an additional 35,469 shares during the period. Principal Financial Group Inc. increased its position in shares of Cutera by 2.7% during the first quarter. Principal Financial Group Inc. now owns 110,252 shares of the medical device company’s stock worth $5,540,000 after acquiring an additional 2,896 shares during the period. Bank of Montreal Can increased its position in shares of Cutera by 255.6% during the second quarter. Bank of Montreal Can now owns 43,001 shares of the medical device company’s stock worth $1,733,000 after acquiring an additional 30,908 shares during the period. Scout Investments Inc. increased its position in shares of Cutera by 30.3% during the second quarter. Scout Investments Inc. now owns 89,473 shares of the medical device company’s stock worth $3,606,000 after acquiring an additional 20,796 shares during the period. Finally, Essex Investment Management Co. LLC increased its position in shares of Cutera by 27.2% during the second quarter. Essex Investment Management Co. LLC now owns 116,427 shares of the medical device company’s stock worth $4,692,000 after acquiring an additional 24,877 shares during the period. Institutional investors own 93.36% of the company’s stock.

Shares of NASDAQ:CUTR opened at $20.31 on Wednesday. The company has a market cap of $284.75 million, a PE ratio of 26.38 and a beta of 0.83. Cutera, Inc. has a one year low of $19.11 and a one year high of $56.05.

Cutera (NASDAQ:CUTR) last issued its earnings results on Tuesday, November 6th. The medical device company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.08. The business had revenue of $40.60 million for the quarter, compared to analyst estimates of $40.03 million. Cutera had a net margin of 11.16% and a negative return on equity of 0.50%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.42 earnings per share. As a group, research analysts anticipate that Cutera, Inc. will post -0.32 EPS for the current year.

In other Cutera news, insider James A. Reinstein acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were purchased at an average cost of $32.02 per share, for a total transaction of $32,020.00. Following the completion of the purchase, the insider now owns 139,907 shares in the company, valued at $4,479,822.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by company insiders.

A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of Cutera from a “buy” rating to a “hold” rating in a research report on Thursday, September 20th. ValuEngine lowered shares of Cutera from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 8th. Stifel Nicolaus reduced their target price on shares of Cutera from $55.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, August 8th. Stephens reduced their target price on shares of Cutera from $40.00 to $24.94 and set a “sell” rating on the stock in a research report on Friday, October 5th. Finally, Zacks Investment Research lowered shares of Cutera from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $39.24.

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About Cutera

Cutera, Inc, a medical device company, designs, develops, manufactures, markets, and services laser and other energy based aesthetics systems worldwide. The company offers enlighten platform, a laser system that is used for tattoo removal, as well as for the treatment of benign pigmented lesions; excel HR platform, a hair removal solution for various skin types; and truSculpt, a high-powered radio frequency platform designed for deep tissue heating.

Further Reading: What does RSI mean?

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Institutional Ownership by Quarter for Cutera (NASDAQ:CUTR)

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