Maxim Group Reaffirms Buy Rating for Cutera, Inc. (CUTR)
Cutera, Inc. (NASDAQ:CUTR)‘s stock had its “buy” rating reaffirmed by investment analysts at Maxim Group in a report released on Thursday, MarketBeat reports. They currently have a $33.00 target price on the medical device company’s stock, up from their prior target price of $27.00. Maxim Group’s price target points to a potential upside of 22.45% from the stock’s previous close.
The analysts wrote, “At the Investor Day on 6/14/17, CUTR reiterated the 2Q17 and full-year 2017 guidance it originally introduced on May 1, 2017. During the Investor Day presentation, CUTR provided additional details on its five-year growth plan, highlighted by its projection of a tripling of its annual revenue to $360M in 2021, from $118M in 2016.””
A number of other brokerages also recently issued reports on CUTR. BidaskClub upgraded Cutera from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Sidoti restated a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Cutera in a research note on Friday, July 7th. Zacks Investment Research downgraded Cutera from a “buy” rating to a “hold” rating in a research note on Monday, June 26th. Roth Capital assumed coverage on Cutera in a research note on Monday, June 26th. They set a “buy” rating and a $32.00 target price on the stock. Finally, TheStreet downgraded Cutera from a “b-” rating to a “c” rating in a research note on Monday, May 1st. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $31.50.
Cutera (NASDAQ CUTR) traded down 0.37% during midday trading on Thursday, hitting $26.95. The stock had a trading volume of 136,737 shares. The stock has a market cap of $373.47 million, a PE ratio of 103.26 and a beta of 0.60. The company’s 50 day moving average price is $23.01 and its 200-day moving average price is $20.36. Cutera has a 52-week low of $10.43 and a 52-week high of $29.25.
Cutera (NASDAQ:CUTR) last announced its quarterly earnings results on Monday, May 1st. The medical device company reported ($0.07) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.07). Cutera had a return on equity of 9.21% and a net margin of 2.89%. The business had revenue of $29.30 million for the quarter, compared to the consensus estimate of $29 million. During the same period last year, the business posted ($0.16) EPS. The business’s revenue was up 30.8% compared to the same quarter last year. Analysts forecast that Cutera will post $0.46 EPS for the current fiscal year.
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In related news, CFO Ronald J. Santilli sold 60,991 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $19.99, for a total transaction of $1,219,210.09. Following the transaction, the chief financial officer now directly owns 174,025 shares in the company, valued at approximately $3,478,759.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Ronald J. Santilli sold 20,856 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $19.90, for a total value of $415,034.40. Following the transaction, the chief financial officer now owns 92,178 shares in the company, valued at $1,834,342.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,410 shares of company stock worth $3,410,284. 11.60% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. American International Group Inc. increased its position in shares of Cutera by 7.0% in the first quarter. American International Group Inc. now owns 7,221 shares of the medical device company’s stock valued at $149,000 after buying an additional 475 shares during the period. Metropolitan Life Insurance Co. NY acquired a new position in shares of Cutera during the first quarter valued at $202,000. Federated Investors Inc. PA increased its position in shares of Cutera by 143.7% in the fourth quarter. Federated Investors Inc. PA now owns 12,568 shares of the medical device company’s stock valued at $218,000 after buying an additional 7,410 shares during the period. Trexquant Investment LP acquired a new position in shares of Cutera during the first quarter valued at $267,000. Finally, Bank of Montreal Can increased its position in shares of Cutera by 49.6% in the second quarter. Bank of Montreal Can now owns 15,957 shares of the medical device company’s stock valued at $413,000 after buying an additional 5,289 shares during the period. Hedge funds and other institutional investors own 81.33% 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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