Cutera, Inc. (NASDAQ:CUTR) had its target price lifted by Roth Capital from $32.00 to $39.00 in a research note released on Tuesday morning. They currently have a buy rating on the medical device company’s stock.
A number of other research analysts have also weighed in on CUTR. Sidoti started coverage on shares of Cutera in a research note on Tuesday, April 11th. They issued a buy rating and a $27.00 price objective for the company. TheStreet lowered shares of Cutera from a b- rating to a c rating in a research note on Monday, May 1st. Zacks Investment Research lowered shares of Cutera from a hold rating to a sell rating in a research note on Thursday, May 4th. BidaskClub upgraded shares of Cutera from a buy rating to a strong-buy rating in a research note on Wednesday, July 12th. Finally, Maxim Group reiterated a buy rating and issued a $33.00 price objective (up from $27.00) on shares of Cutera in a research note on Thursday, July 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Cutera presently has a consensus rating of Buy and an average price target of $33.25.
Cutera (NASDAQ:CUTR) opened at 34.10 on Tuesday. The firm has a market cap of $477.57 million, a P/E ratio of 73.33 and a beta of 0.60. Cutera has a 12 month low of $10.54 and a 12 month high of $34.91. The firm’s 50-day moving average price is $27.16 and its 200-day moving average price is $22.41.
Cutera (NASDAQ:CUTR) last released its quarterly earnings data on Monday, August 7th. The medical device company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. Cutera had a net margin of 5.07% and a return on equity of 11.64%. The business had revenue of $36.40 million during the quarter, compared to analyst estimates of $32.08 million. During the same period in the previous year, the business earned $0.07 EPS. Cutera’s revenue was up 32.4% compared to the same quarter last year. On average, equities research analysts expect that Cutera will post $0.55 EPS for the current fiscal year.
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Cutera declared that its Board of Directors has approved a stock buyback plan on Monday, August 7th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the medical device company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other Cutera news, EVP Larry Laber sold 6,482 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $22.89, for a total value of $148,372.98. Following the completion of the transaction, the executive vice president now directly owns 80,642 shares of the company’s stock, valued at approximately $1,845,895.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David A. Gollnick sold 39,204 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $22.31, for a total transaction of $874,641.24. Following the completion of the transaction, the director now directly owns 34,136 shares of the company’s stock, valued at $761,574.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,563 shares of company stock valued at $1,485,360. Insiders own 11.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Oxford Asset Management increased its stake in Cutera by 98.4% in the first quarter. Oxford Asset Management now owns 52,100 shares of the medical device company’s stock worth $1,078,000 after buying an additional 25,839 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in Cutera during the first quarter worth about $989,000. Trexquant Investment LP bought a new stake in Cutera during the first quarter worth about $267,000. Icon Advisers Inc. Co. bought a new stake in Cutera during the first quarter worth about $571,000. Finally, American Century Companies Inc. bought a new stake in Cutera during the first quarter worth about $525,000. 82.87% of the stock is owned by hedge funds and other institutional investors.
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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