Essex Investment Management Co. LLC Reduces Position in Cutera, Inc. (NASDAQ:CUTR)

Essex Investment Management Co. LLC cut its position in shares of Cutera, Inc. (NASDAQ:CUTR) by 29.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 155,302 shares of the medical device company’s stock after selling 64,889 shares during the period. Cutera makes up 0.9% of Essex Investment Management Co. LLC’s portfolio, making the stock its 15th largest holding. Essex Investment Management Co. LLC owned about 0.87% of Cutera worth $7,614,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its position in Cutera by 2.3% in the 1st quarter. Rhumbline Advisers now owns 51,244 shares of the medical device company’s stock valued at $1,540,000 after buying an additional 1,176 shares during the period. BlackRock Inc. boosted its position in Cutera by 3.8% in the 1st quarter. BlackRock Inc. now owns 2,759,771 shares of the medical device company’s stock valued at $82,932,000 after buying an additional 99,856 shares during the period. Russell Investments Group Ltd. boosted its position in Cutera by 61.4% in the 1st quarter. Russell Investments Group Ltd. now owns 96,061 shares of the medical device company’s stock valued at $2,883,000 after buying an additional 36,547 shares during the period. Monarch Partners Asset Management LLC purchased a new stake in Cutera in the 1st quarter valued at about $1,162,000. Finally, Panagora Asset Management Inc. boosted its position in Cutera by 23.9% in the 1st quarter. Panagora Asset Management Inc. now owns 22,036 shares of the medical device company’s stock valued at $662,000 after buying an additional 4,248 shares during the period.

Shares of NASDAQ CUTR traded down $0.38 during trading hours on Monday, hitting $48.48. 358 shares of the stock were exchanged, compared to its average volume of 213,988. The company has a quick ratio of 3.38, a current ratio of 3.95 and a debt-to-equity ratio of 2.51. The company has a market cap of $869.83 million, a PE ratio of 135.73 and a beta of 1.63. The firm has a fifty day moving average price of $49.74 and a 200-day moving average price of $41.68. Cutera, Inc. has a 12 month low of $17.80 and a 12 month high of $60.35.

Cutera (NASDAQ:CUTR) last posted its quarterly earnings data on Wednesday, August 4th. The medical device company reported $0.39 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.49. The firm had revenue of $58.59 million during the quarter, compared to analyst estimates of $50.15 million. Cutera had a net margin of 3.71% and a return on equity of 14.36%. As a group, equities analysts anticipate that Cutera, Inc. will post 0.17 earnings per share for the current fiscal year.

In other news, Director J Daniel Plants bought 1,000 shares of the stock in a transaction dated Monday, August 16th. The shares were acquired at an average cost of $47.99 per share, with a total value of $47,990.00. Following the purchase, the director now directly owns 28,105 shares in the company, valued at approximately $1,348,758.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joseph E. Whitters purchased 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 9th. The stock was bought at an average cost of $53.89 per share, for a total transaction of $80,835.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 3,500 shares of company stock worth $178,815. 2.10% of the stock is owned by insiders.

CUTR has been the subject of several research reports. Zacks Investment Research upped their price target on shares of Cutera to $64.25 in a research report on Thursday. Piper Sandler upped their price target on shares of Cutera from $42.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, August 5th. They noted that the move was a valuation call. Cantor Fitzgerald upped their price target on shares of Cutera from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 13th. Finally, TheStreet raised shares of Cutera from a “d” rating to a “c+” rating in a research report on Thursday, August 5th.

Cutera Company Profile

Cutera, Inc engages in the provision of laser and energy-based aesthetic systems for practitioners. It operates through the following segments: United States, Japan, Asia excluding Japan, Europe, and Rest of the World. Its products include enlighten, excel HR, excel V+, secret Pro, Juliet, secret RF, and xeo.

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Institutional Ownership by Quarter for Cutera (NASDAQ:CUTR)

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