Cutera Inc. (CUTR) Raised to Buy at Zacks Investment Research
Cutera Inc. (NASDAQ:CUTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $16.00 price objective on the medical device company’s stock. Zacks Investment Research’s price objective would suggest a potential upside of 11.50% from the stock’s previous close.
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. “
Shares of Cutera (NASDAQ:CUTR) traded up 0.77% during mid-day trading on Monday, hitting $14.35. The stock had a trading volume of 20,284 shares. The company has a 50-day moving average of $11.91 and a 200 day moving average of $11.21. Cutera has a one year low of $9.83 and a one year high of $15.10. The firm’s market cap is $187.83 million.
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Cutera (NASDAQ:CUTR) last announced its earnings results on Monday, August 1st. The medical device company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.08. Cutera had a negative return on equity of 0.38% and a negative net margin of 2.12%. The business earned $27.50 million during the quarter, compared to analysts’ expectations of $26.20 million. During the same quarter last year, the business posted ($0.13) earnings per share. The company’s quarterly revenue was up 21.8% on a year-over-year basis. On average, equities research analysts forecast that Cutera will post ($0.02) earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Advisors LLC raised its position in Cutera by 10.8% in the second quarter. BlackRock Advisors LLC now owns 11,095 shares of the medical device company’s stock worth $124,000 after buying an additional 1,081 shares during the period. A.R.T. Advisors LLC bought a new position in Cutera during the second quarter worth $127,000. Globeflex Capital L P raised its position in Cutera by 265.6% in the second quarter. Globeflex Capital L P now owns 11,700 shares of the medical device company’s stock worth $131,000 after buying an additional 8,500 shares during the period. Panagora Asset Management Inc. raised its position in Cutera by 139.0% in the second quarter. Panagora Asset Management Inc. now owns 13,286 shares of the medical device company’s stock worth $149,000 after buying an additional 7,726 shares during the period. Finally, Rhumbline Advisers raised its position in Cutera by 7.8% in the second quarter. Rhumbline Advisers now owns 17,006 shares of the medical device company’s stock worth $191,000 after buying an additional 1,235 shares during the period. Institutional investors and hedge funds own 79.17% of the company’s stock.
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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