Cutera (NASDAQ:CUTR) Stock Rating Reaffirmed by Piper Sandler

Cutera (NASDAQ:CUTR)‘s stock had its “neutral” rating restated by research analysts at Piper Sandler in a research note issued to investors on Friday, Benzinga reports. They currently have a $1.00 target price on the medical device company’s stock, down from their prior target price of $3.00. Piper Sandler’s price target points to a potential upside of 31.56% from the stock’s current price.

Several other equities research analysts have also recently issued reports on CUTR. StockNews.com upgraded shares of Cutera to a “sell” rating in a research report on Friday, May 10th. Stephens reiterated an “overweight” rating and set a $10.00 price objective on shares of Cutera in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Cutera currently has an average rating of “Hold” and an average price target of $5.33.

Cutera Stock Down 32.1 %

NASDAQ:CUTR traded down $0.36 during trading hours on Friday, hitting $0.76. 2,215,425 shares of the stock traded hands, compared to its average volume of 1,156,802. Cutera has a 1 year low of $0.73 and a 1 year high of $14.58. The company has a market cap of $15.28 million, a price-to-earnings ratio of -0.11 and a beta of 1.32. The stock has a 50 day moving average price of $1.52 and a 200 day moving average price of $1.98.

Cutera (NASDAQ:CUTR) last released its quarterly earnings data on Thursday, May 9th. The medical device company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.05). The firm had revenue of $38.79 million for the quarter, compared to analysts’ expectations of $37.17 million. During the same quarter in the prior year, the firm posted ($1.26) EPS. Equities analysts forecast that Cutera will post -5.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Karavitis sold 24,940 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $2.59, for a total value of $64,594.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Findell Capital Management LLC bought a new position in Cutera during the fourth quarter valued at $39,000. Opti Capital Management LP bought a new position in Cutera during the fourth quarter valued at $1,755,000,000. Federated Hermes Inc. increased its position in Cutera by 38.8% during the fourth quarter. Federated Hermes Inc. now owns 148,559 shares of the medical device company’s stock valued at $524,000 after acquiring an additional 41,500 shares during the last quarter. BNP Paribas Financial Markets increased its position in Cutera by 7.1% during the first quarter. BNP Paribas Financial Markets now owns 75,833 shares of the medical device company’s stock valued at $111,000 after acquiring an additional 5,017 shares during the last quarter. Finally, McAdam LLC bought a new position in Cutera during the first quarter valued at $45,000. Institutional investors own 90.70% of the company’s stock.

About Cutera

Cutera, Inc provides aesthetic and dermatology solutions for medical practitioners worldwide. It develops, manufactures, and markets energy-based product platforms for medical practitioners; and distributes third-party manufactured skincare products. The company provides AviClear for the treatment of mild, moderate, and severe inflammatory acne vulgaris; Secret PRO, a device that utilizes fractional CO2 for skin resurfacing and radio frequency (RF) microneedling for deep dermal remodeling; truFlex, a bio-electrical muscle stimulation device to treat patients at all fitness levels; and excel V+, a vascular and benign pigmented lesion treatment platform.