Cutera, Inc. (CUTR) EVP Sells $180,000.00 in Stock
Cutera, Inc. (NASDAQ:CUTR) EVP Miguel Pardos sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $36.00, for a total transaction of $180,000.00. Following the sale, the executive vice president now directly owns 39,698 shares of the company’s stock, valued at approximately $1,429,128. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Cutera, Inc. (NASDAQ CUTR) traded up 3.50% during midday trading on Friday, hitting $38.45. 150,149 shares of the stock were exchanged. The firm has a 50-day moving average price of $30.86 and a 200-day moving average price of $24.14. The stock has a market cap of $538.49 million, a P/E ratio of 82.69 and a beta of 0.60. Cutera, Inc. has a one year low of $10.54 and a one year high of $38.60.
Cutera (NASDAQ:CUTR) last posted its quarterly earnings data on Monday, August 7th. The medical device company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The firm had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $32.08 million. Cutera had a return on equity of 11.64% and a net margin of 5.07%. The firm’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. On average, equities research analysts anticipate that Cutera, Inc. will post $0.52 EPS for the current fiscal year.
Cutera announced that its board has approved a stock repurchase plan on Monday, August 7th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the medical device company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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A number of research firms have recently issued reports on CUTR. BidaskClub raised shares of Cutera from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. TheStreet raised shares of Cutera from a “c” rating to a “b” rating in a report on Friday, August 18th. Gabelli reaffirmed a “buy” rating on shares of Cutera in a report on Wednesday, August 9th. Maxim Group reaffirmed a “buy” rating and set a $33.00 target price (up previously from $27.00) on shares of Cutera in a report on Thursday, July 13th. Finally, Roth Capital upped their target price on shares of Cutera from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Six analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $33.25.
A number of hedge funds have recently bought and sold shares of the stock. Kennedy Capital Management Inc. acquired a new stake in Cutera during the second quarter valued at approximately $9,426,000. Stonepine Capital Management LLC purchased a new position in Cutera during the second quarter valued at $4,533,000. Renaissance Technologies LLC raised its position in Cutera by 13.4% in the first quarter. Renaissance Technologies LLC now owns 1,205,400 shares of the medical device company’s stock valued at $24,952,000 after buying an additional 142,140 shares in the last quarter. Summit Creek Advisors LLC purchased a new position in Cutera during the second quarter valued at $3,380,000. Finally, Ameriprise Financial Inc. purchased a new position in Cutera during the second quarter valued at $3,175,000. Institutional investors own 89.15% 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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