Maxim Group Lowers Cutera, Inc. (CUTR) to Hold
Cutera, Inc. (NASDAQ:CUTR) was downgraded by stock analysts at Maxim Group from a “buy” rating to a “hold” rating in a report released on Thursday, Marketbeat Ratings reports.
Several other research firms have also recently weighed in on CUTR. Roth Capital upped their price target on shares of Cutera from $41.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday. BidaskClub raised shares of Cutera from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. TheStreet raised shares of Cutera from a “c” rating to a “b” rating in a research report on Friday, August 18th. Gabelli reissued a “buy” rating on shares of Cutera in a research report on Wednesday, August 9th. Finally, Sidoti reissued a “buy” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Cutera in a research report on Friday, July 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $35.25.
Cutera (CUTR) traded down 0.38% on Thursday, hitting $39.30. 123,939 shares of the stock were exchanged. The stock has a market capitalization of $550.40 million, a P/E ratio of 84.52 and a beta of 0.52. The company has a 50 day moving average of $33.06 and a 200 day moving average of $24.97. Cutera has a one year low of $10.70 and a one year high of $41.15.
Cutera (NASDAQ:CUTR) last released its quarterly earnings results on Monday, August 7th. The medical device company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.10. The company had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $32.08 million. Cutera had a net margin of 5.07% and a return on equity of 11.64%. The business’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, equities research analysts forecast that Cutera will post $0.52 earnings per share for the current fiscal year.
Cutera announced that its Board of Directors has approved a share buyback program on Monday, August 7th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the medical device company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other Cutera news, CFO Ronald J. Santilli sold 5,775 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $40.43, for a total transaction of $233,483.25. Following the sale, the chief financial officer now directly owns 50,012 shares of the company’s stock, valued at $2,021,985.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Larry Laber sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $25.88, for a total transaction of $25,880.00. Following the sale, the executive vice president now directly owns 73,140 shares in the company, valued at $1,892,863.20. The disclosure for this sale can be found here. In the last three months, insiders sold 66,809 shares of company stock worth $2,216,500. 11.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CUTR. American International Group Inc. raised its position in Cutera by 7.0% during the first quarter. American International Group Inc. now owns 7,221 shares of the medical device company’s stock worth $149,000 after acquiring an additional 475 shares in the last quarter. Nationwide Fund Advisors raised its position in Cutera by 8.4% during the second quarter. Nationwide Fund Advisors now owns 7,216 shares of the medical device company’s stock worth $187,000 after acquiring an additional 561 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in Cutera during the first quarter worth $202,000. Cubist Systematic Strategies LLC bought a new stake in Cutera during the second quarter worth $225,000. Finally, PNC Financial Services Group Inc. bought a new stake in Cutera during the second quarter worth $241,000. 89.15% of the stock is currently owned by hedge funds and other institutional investors.
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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