Zacks Investment Research Lowers Cutera (NASDAQ:CUTR) to Hold

Zacks Investment Research downgraded shares of Cutera (NASDAQ:CUTR) from a buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Cutera Inc designs, develops, manufactures and markets the CoolGlide family of products for use in laser and other light-based aesthetic applications. The original CoolGlide CV provides permanent hair reduction on all skin types. The second generation CoolGlide Excel incorporated features that added the capability to treat a variety of vascular lesions, which include facial telangiectasia, spider and reticular leg veins. The CoolGlide Vantage added non-ablative skin therapy to the range of applications offered by the system. “

Several other research firms also recently commented on CUTR. Maxim Group reiterated a hold rating on shares of Cutera in a report on Friday, August 9th. ValuEngine downgraded Cutera from a buy rating to a hold rating in a report on Tuesday. BidaskClub upgraded Cutera from a buy rating to a strong-buy rating in a report on Saturday, July 13th. Finally, Sidoti downgraded Cutera from a buy rating to a neutral rating in a report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Cutera currently has a consensus rating of Buy and a consensus price target of $31.50.

Shares of NASDAQ:CUTR opened at $28.80 on Wednesday. Cutera has a 1-year low of $12.32 and a 1-year high of $35.85. The business has a fifty day moving average price of $29.38 and a 200-day moving average price of $22.82. The company has a market capitalization of $402.80 million, a PE ratio of -12.91 and a beta of 0.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.67 and a quick ratio of 1.16.

Cutera (NASDAQ:CUTR) last released its quarterly earnings data on Thursday, August 8th. The medical device company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.20. Cutera had a negative return on equity of 69.92% and a negative net margin of 20.49%. The company had revenue of $47.77 million during the quarter, compared to the consensus estimate of $42.08 million. During the same period last year, the company earned $0.12 EPS. Cutera’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that Cutera will post -0.55 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in shares of Cutera by 14.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,798 shares of the medical device company’s stock valued at $76,000 after purchasing an additional 483 shares during the period. Comerica Bank grew its stake in shares of Cutera by 4.3% during the 1st quarter. Comerica Bank now owns 13,833 shares of the medical device company’s stock valued at $249,000 after purchasing an additional 571 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Cutera by 6.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 12,310 shares of the medical device company’s stock valued at $256,000 after purchasing an additional 750 shares during the period. Northern Trust Corp grew its stake in shares of Cutera by 0.4% during the 2nd quarter. Northern Trust Corp now owns 218,955 shares of the medical device company’s stock valued at $4,549,000 after purchasing an additional 802 shares during the period. Finally, Bogle Investment Management L P DE grew its stake in shares of Cutera by 1.4% during the 2nd quarter. Bogle Investment Management L P DE now owns 84,718 shares of the medical device company’s stock valued at $1,760,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 90.68% of the company’s stock.

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.

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