Cutera, Inc. (NASDAQ:CUTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

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. “

A number of other analysts also recently issued reports on CUTR. Roth Capital initiated coverage on Cutera in a research report on Monday, June 26th. They issued a “buy” rating and a $32.00 price target for the company. Sidoti restated a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of Cutera in a research report on Friday, July 7th. BidaskClub upgraded Cutera from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Maxim Group restated a “buy” rating and issued a $33.00 price target (up from $27.00) on shares of Cutera in a research report on Thursday, July 13th. Finally, Gabelli restated a “buy” rating on shares of Cutera in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $37.33.

Shares of Cutera (CUTR) traded down 0.46% during midday trading on Tuesday, hitting $43.40. 109,842 shares of the stock were exchanged. Cutera has a 52-week low of $12.45 and a 52-week high of $44.40. The firm’s 50-day moving average is $39.44 and its 200 day moving average is $27.95. The firm has a market cap of $607.82 million, a PE ratio of 93.33 and a beta of 0.53.

Cutera (NASDAQ:CUTR) last issued its quarterly earnings results on Monday, August 7th. The medical device company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The company had revenue of $36.40 million during the quarter, compared to the consensus estimate of $32.08 million. Cutera had a return on equity of 11.64% and a net margin of 5.07%. Cutera’s revenue was up 32.4% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. On average, analysts forecast that Cutera will post $0.52 earnings per share for the current year.

Cutera announced that its board has authorized a stock repurchase program on Monday, August 7th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the medical device company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

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In other news, EVP Ronald J. Santilli sold 1,068 shares of Cutera stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $33.20, for a total transaction of $35,457.60. Following the completion of the sale, the executive vice president now directly owns 87,253 shares in the company, valued at $2,896,799.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David B. Apfelberg sold 1,000 shares of Cutera stock in a transaction on Monday, September 18th. The stock was sold at an average price of $38.45, for a total value of $38,450.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,309 shares of company stock valued at $1,965,520. Corporate insiders own 3.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position in shares of Cutera by 0.8% during the second quarter. Renaissance Technologies LLC now owns 1,214,500 shares of the medical device company’s stock worth $31,456,000 after purchasing an additional 9,100 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Cutera by 3.7% during the second quarter. Gamco Investors INC. ET AL now owns 576,363 shares of the medical device company’s stock worth $14,928,000 after purchasing an additional 20,363 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Cutera by 3.4% during the second quarter. Vanguard Group Inc. now owns 570,948 shares of the medical device company’s stock worth $14,788,000 after purchasing an additional 18,549 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of Cutera during the second quarter worth $9,426,000. Finally, Teton Advisors Inc. lifted its position in shares of Cutera by 6.7% during the second quarter. Teton Advisors Inc. now owns 319,000 shares of the medical device company’s stock worth $8,262,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors and hedge funds 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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